On Thursday EnLink Midstream, LLC (NYSE: ENLC) has shown downward move of -2.42% and ended the last trade at $14.10. The trading volume was recorded to 246,713 shares as compared to average traded volume of 388,175 shares.
The EnLink Midstream companies (EnLink), EnLink Midstream Partners, LP (ENLK) (the Joint Venture or ENLK) and EnLink Midstream, LLC (ENLC) (the General Partner or ENLC), recently stated results for the fourth quarter and full-year 2017, and provided an operational update.
- Met or exceeded guidance metrics for fourth quarter and full-year 2017 guidance
- Reaffirmed ENLC and ENLK 2018 financial and operational guidance released on February 6, 2018
- Achieved strong volume raises across core growth regions throughout 2017, including Central Oklahoma, the DelawareBasin, the Midland Basin and the Louisiana Gulf Coast
- Completed construction and placed into service planned development projects during 2017, including:
- Resumed distribution growth at ENLC starting with fourth quarter 2017 reported distribution; reported expectation for distribution growth of about five percent in reported distributions for full-year 2018 over full-year 2017
“Our fourth quarter performance caps off a very strong year for EnLink,” stated Michael J. Garberding, EnLink President and Chief Executive Officer. “Our team executed tremendously well throughout 2017, resulting in extensions of our footprint, further integration of our systems, improvements in our strong balance sheet position, and solid growth in cash flows. Our performance in 2017 sets the stage for a strong 2018.
“The industry has been through three years of a downturn, and EnLink’s planned actions have positioned us for continued growth. We’re in the right places with the right partners, and we are executing the right plan, all of which will drive strong results for 2018 and beyond.”
EnLink Midstream, LLC’s (ENLC) has price-to-cash ratio of 85.81 and price to sale ratio of 0.47. The company net profit margin is 3.70% and gross profit margin is 24.00%. A look on the firm performance, its monthly performance is -9.03% and a quarterly performance of -22.74%. The stock price is moving down from its 20 days moving average with -3.56% and isolated negatively from 50 days moving average with -10.05%.