EnLink Midstream (ENLC - Free Report) shares ended the last trading session 6% higher at $6.74. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 21.8% gain over the past four weeks.
EnLink Midstream stock rose for the fourth time in five days, driven by optimism over rising commodity prices spurred by widespread COVID-19 vaccine rollouts, the ongoing government stimulus and an improving demand picture. The recovery in crude prices to over $70 a barrel and natural gas surging to seven-year highs has lifted the midstream space and contributed to the strength in this diversified energy infrastructure operator.
Price and Consensus
This natural gas company is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $1.53 billion, up 64.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For EnLink Midstream, the consensus EPS estimate for the quarter has been revised 15.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ENLC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
EnLink Midstream (ENLC - Free Report) shares ended the last trading session 6% higher at $6.74. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 21.8% gain over the past four weeks.
EnLink Midstream stock rose for the fourth time in five days, driven by optimism over rising commodity prices spurred by widespread COVID-19 vaccine rollouts, the ongoing government stimulus and an improving demand picture. The recovery in crude prices to over $70 a barrel and natural gas surging to seven-year highs has lifted the midstream space and contributed to the strength in this diversified energy infrastructure operator.
Price and Consensus
This natural gas company is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $1.53 billion, up 64.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For EnLink Midstream, the consensus EPS estimate for the quarter has been revised 15.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ENLC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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