Enlink Midstream LLC (NYSE: ENLC) has reported earnings for its first fiscal quarter (ending March 31) of $0.03 versus $0.12 for the same period a year ago — a decline of -75%. For the latest four quarters through March 31, E.P.S. were $0.35 versus $0.81 for the same period a year ago — a decline of -57%.
Recent Price Action
Enlink Midstream LLC (NYSE: ENLC) stock declined by -2.7% on 4/30/24. The shares closed at $13.72. Moreover, above average trading volume at 149% of normal accompanied the decline. The stock has risen 0.5% during the last week and has performed in line with the market over the last nine months.
Current PriceTarget Research Rating
ENLC is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Enlink Midstream has a current Value Trend Rating of D (Negative). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Enlink Midstream has a very low Appreciation Score of 7 but a slightly positive Power Rating of 62, resulting in the Negative Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
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