Wall Street brokerages expect EnLink Midstream, LLC (NYSE:ENLC) to announce $1.24 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for EnLink Midstream’s earnings. The lowest sales estimate is $1.23 billion and the highest is $1.24 billion. EnLink Midstream posted sales of $1.10 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 12.7%. The company is expected to announce its next quarterly earnings report on Wednesday, November 1st.

According to Zacks, analysts expect that EnLink Midstream will report full-year sales of $1.24 billion for the current fiscal year, with estimates ranging from $5.01 billion to $5.61 billion. For the next fiscal year, analysts forecast that the company will post sales of $5.79 billion per share, with estimates ranging from $5.52 billion to $6.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover EnLink Midstream.

A number of analysts have commented on ENLC shares. Citigroup Inc. upgraded shares of EnLink Midstream to a “neutral” rating and set a $19.00 price target for the company in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of EnLink Midstream from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded shares of EnLink Midstream from a “strong sell” rating to a “hold” rating in a research note on Monday, August 7th. TheStreet upgraded shares of EnLink Midstream from a “d” rating to a “c-” rating in a research note on Friday, June 2nd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $21.00 price target on shares of EnLink Midstream in a research note on Monday, July 31st. Three investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.55.

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Several hedge funds have recently bought and sold shares of ENLC. Chickasaw Capital Management LLC raised its stake in EnLink Midstream by 0.6% in the second quarter. Chickasaw Capital Management LLC now owns 15,656,055 shares of the pipeline company’s stock valued at $275,547,000 after buying an additional 100,025 shares during the last quarter. Eagle Global Advisors LLC raised its position in EnLink Midstream by 5.9% in the second quarter. Eagle Global Advisors LLC now owns 3,741,870 shares of the pipeline company’s stock valued at $65,857,000 after buying an additional 206,991 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in EnLink Midstream by 3.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 3,461,842 shares of the pipeline company’s stock valued at $60,928,000 after buying an additional 113,842 shares during the last quarter. Dimensional Fund Advisors LP raised its position in EnLink Midstream by 12.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,153,393 shares of the pipeline company’s stock valued at $37,899,000 after buying an additional 245,455 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in EnLink Midstream by 33.2% in the second quarter. Principal Financial Group Inc. now owns 2,101,858 shares of the pipeline company’s stock valued at $36,993,000 after buying an additional 523,482 shares during the last quarter. Hedge funds and other institutional investors own 33.79% of the company’s stock.

Shares of EnLink Midstream (NYSE ENLC) traded up 0.93% during trading on Thursday, reaching $16.35. 277,306 shares of the company traded hands. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 4087.50 and a beta of 2.58. EnLink Midstream has a 12-month low of $14.70 and a 12-month high of $20.45. The company has a 50 day moving average price of $17.38 and a 200 day moving average price of $18.11.

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Tuesday, August 1st were paid a $0.255 dividend. The ex-dividend date was Friday, July 28th. This represents a $1.02 annualized dividend and a dividend yield of 6.24%.

About EnLink Midstream

EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.

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