EnLink Midstream (NASDAQ: ENLC) Market Updates

EnLink Midstream day trading at USD 2.85 per share, then rallying to 2.93 and closing at USD 2.71 per share. A net loss of -4.91% for the day. Long term pricing analysis shows the stock trading at 72.82% lower than it’s 52week high and -206.81% higher than the 52week low. The share volume traded for the day was 2,274K which was 0 times the 50 Day Average Volume.

EnLink Midstream had a market cap of 1,325,894K as of 23rd June 2020. The Earnings Per Share (EPS) for Q4 2019 is $-2.52.

EnLink Midstream is an independent midstream energy services company that offers supply and marketing services to oil and gas producers and consumers. The Company is involved in natural gas gathering, treating, processing, transmission, distribution, supply and marketing, and crude oil marketing.

Financial Results

EnLink Midstream Reports First Quarter Of Fiscal 2020.

  • $260 million net loss reported for the first quarter of 2020, which includes non-cash impairment charges of $353 million. Net loss for full-year 2020 projected to range from $123 million to $222 million.
  • $260 million of adjusted EBITDA achieved for the first quarter of 2020, which includes approximately $6 million of severance expense. Full-year 2020 adjusted EBITDA projected to range from $950 million to $1.025 billion.
  • $182 million of net cash provided by operating activities reported for the first quarter of 2020.
  • $44 million of excess free cash flow generated for the first quarter of 2020. Excess free cash flow projected to range from $260 million to $280 million for full-year 2020.
  • 14% additional reduction in 2020 capital expenditures (midpoint) to bring 2020 capital expenditures down by approximately 40% relative to the original 2020 guidance range. Updated 2020 total capital expenditures guidance range, net to EnLink, is $190 million to $250 million.
  • ~67% reduction in common unit distribution payout, as previously announced, since the third quarter of 2019 distribution.
  • $50 million of incremental expense savings, announced on March 24, 2020, being targeted across cost structure during 2020. Full-year 2020 cost savings compared to 2019 are projected to be $100 million.

EnLink Midstream (23rd June 2020): The Institutional Ownership as of today stood at 39.93% and the Total Value of Holdings (millions) is $ 547

New Institutional Holders and other activity – As of today, the total number of shares held is, 195,368,513 by 210 institutional holders.


15-June-2020:- EnLink Midstream (NYSE: ENLC) Shares Up 13.7%

Shares of EnLink Midstream LLC (NYSE: ENLC) shot up 13.7% on Monday. The company traded as high as $3.42 and last traded at $3.33, 7,028,313 shares traded hands during trading. An increase of 21% from the average session volume of 5,799,395 shares.

13-June-2020:- JPMorgan Chase & Co. Acquires 611,800 Shares of EnLink Midstream LLC (NYSE: ENLC)

JPMorgan Chase & Co. raised its holdings in EnLink Midstream LLC (NYSE: ENLC) by 9.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,985,236 shares of the pipeline company’s stock after buying an additional 611,800 shares during the period.

1-June-2020:- Brokerages Anticipate EnLink Midstream LLC (NYSE: ENLC) Will Announce Quarterly Sales of $1.53 Billion

Wall Street brokerages expect EnLink Midstream LLC (NYSE: ENLC) to announce $1.53 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for EnLink Midstream’s earnings, with the highest sales estimate coming in at $1.68 billion and the lowest estimate coming in at $1.27 billion.

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