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EnLink Midstream (ENLC) Stock Sinks As Market Gains: What You Should Know

EnLink Midstream (ENLC) closed the most recent trading day at $10.38, moving -0.1% from the previous trading session. This change lagged the S&P 500's daily gain of 1.06%. Meanwhile, the Dow gained 0.71%, and the Nasdaq, a tech-heavy index, added 0.18%.

Prior to today's trading, shares of the natural gas company had gained 5.27% over the past month. This has outpaced the Oils-Energy sector's gain of 4.37% and the S&P 500's loss of 1.14% in that time.

EnLink Midstream will be looking to display strength as it nears its next earnings release. Our most recent consensus estimate is calling for quarterly revenue of $1.87 billion, up 4.39% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.41 per share and revenue of $8.75 billion, which would represent changes of +720% and +30.95%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for EnLink Midstream. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.07% higher within the past month. EnLink Midstream is currently sporting a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, EnLink Midstream is holding a Forward P/E ratio of 25.34. This represents a premium compared to its industry's average Forward P/E of 5.7.

The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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