EnLink Midstream Partners LP (ENLK) Releases Earnings Results, Misses Expectations By $-1.82 EPS

EnLink Midstream Partners LP (ENLK) reported quarterly earnings results on Tuesday, May-3-2016. The company reported $-1.74 earnings per share for the quarter, missing the analyst consensus estimate by $-1.82. Analysts had a consensus of $0.08. The company posted revenue of $889.70 million in the period, compared to analysts expectations of $1059.09 million. The company’s revenue was down -5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Many Wall Street Analysts have commented on EnLink Midstream Partners LP. EnLink Midstream Partners LP was Initiated by Drexel Hamilton to “Hold” on Apr 7, 2016. EnLink Midstream Partners LP was Initiated by Stifel to “Hold” on Mar 17, 2016. Shares were Reiterated by Barclays on Feb 18, 2016 to “Equal Weight” and Lowered the Price Target to $ 10 from a previous price target of $18 .

EnLink Midstream Partners LP closed down -0.43 points or -3.05% at $13.65 with 4,92,508 shares getting traded on Monday. Post opening the session at $13.99, the shares hit an intraday low of $13.14 and an intraday high of $14.205 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 10, 2015, Stan Golemon (Senior Vice President) sold 19,793 shares at $23.40 per share price. According to the SEC, on Jan 23, 2015, Barry E Davis (President & CEO) sold 14,008 shares at $29.59 per share price.

EnLink Midstream Partners LP formerly Crosstex Energy L.P. focuses on providing midstream energy services including gathering transmission processing fractionation and marketing to producers of natural gas natural gas liquids (NGL) crude oil and condensate. The Company also provides crude oil condensate and brine disposal services to producers. The Company owns and operates around 360 miles of gas gathering pipelines approximately 300 Million Cubic Feet per Day (MMcf/d) of processing capacity as well as crude trucking and logistics services extending through seven counties in the core of the Midland Basin. EnLink Midstream operates approximately 9100 miles of gathering and transportation pipelines 16 processing plants seven fractionators as well as barge and rail terminals product storage facilities brine disposal wells truck terminals and a fleet of approximately 100 trucks.

EnLink Midstream Partners LP

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