EnLink Midstream, LLC (NYSE:ENLC) is reporting third quarter financial results on Wednesday 4th November 2020, after market close.
According to analysts surveyed by Thomson Reuters, ENLC is expected to report 3Q20 income of $ 0.03 per share from revenue of $ 1026.84 million.
For the full year, analysts anticipate top line of $ 4038.83 million, while looking forward to loss of $ 0.52 per share bottom line.
Previous Quarter Performance
EnLink Midstream, LLC communicated income for the second quarter of $ 0.01 per share, from the revenue of $ 744.90 million. The quarterly revenues shrunk 56.44 percent compared with the same quarter last year. Wall street analysts are predicting, ENLC to report 2Q20 income of $ 0.01 per share from revenue of $ 1252.42 million. The top line results fell short of analysts by $ 507.52 million or 40.52 percent.
Stock Performance
Shares of EnLink Midstream, LLC traded low $ -0.03 or -1.15 percent on Tuesday, reaching $ 2.59 with volume of 2.01 million shares. EnLink Midstream, LLC has traded high as $ 2.66 and has cracked $ 2.53 on the downward trend
According to the previous trading day, closing price of $ 2.59, representing a 197.73 % increase from the 52 week low of $ 0.88 and a 60.66 % decrease over the 52 week high of $ 6.66.
The company has a market capital of $ 1.27 billion and is part of the Energy sector and Oil & Gas Midstream industry.
Recent Analyst recommendations
- On 25th September 2020, initiated by Morgan Stanley at Underweight rating, with $ 2.00 target price.
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.
