EnLink Midstream LLC Stock Research

Market Summary

USD9.730.00

Market Closed

0.00%

ENLC Alerts

Big fall in Revenue (Y/Y)
Big jump in Earnings (Y/Y)

ENLC Stock Price

ENLC RSI Chart

ENLC Valuation

Market Cap

4.7B

Price/Earnings (Trailing)

12.19

Price/Sales (Trailing)

0.52

EV/EBITDA

5.47

Price/Free Cashflow

7.31

ENLC Price/Sales (Trailing)

ENLC Profitability

EBT Margin

4.25%

Return on Assets

4.18%

Free Cashflow Yield

13.68%

ENLC Fundamentals

ENLC Revenue

Revenue (TTM)

9.1B

Revenue Y/Y

-21.75%

Revenue Q/Q

-13.53%

ENLC Earnings

Earnings (TTM)

384.3M

Earnings Y/Y

65.34%

Earnings Q/Q

-63.63%

Price Action

52 Week Range

7.6113.58

(Low)(High)

Last 7 days

-2.0%

Last 30 days

-0.8%

Last 90 days

-13.0%

Trailing 12 Months

-12.6%

ENLC Financial Health

Current Ratio

1.12

ENLC Investor Care

Buy Backs (1Y)

2.94%

Diluted EPS (TTM)

0.79

Peers (Alternatives to EnLink Midstream)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
ET	40.6B	88.4B	-3.03%	14.51%	8.97	1.48	24.63%	33.29%
WMB	37.0B	11.5B	-5.62%	-22.88%	18.04	3.37	9.33%	76.48%
KMI	36.2B	18.8B	-5.83%	-16.45%	14.14	1.93	19.77%	145.68%
CQP	28.8B	16.8B	-2.04%	-14.17%	20.75	2.2	55.52%	196.39%
OKE	25.7B	21.5B	-12.29%	-11.71%	14.9	1.2	14.23%	14.84%
MID-CAP
DCP	8.2B	14.3B	0.27%	17.84%	9.89	0.59	21.93%	146.67%
NFE	5.4B	2.4B	-12.68%	-44.68%	55.39	2.22	45.18%	-74.31%
ENLC	4.7B	9.1B	-0.82%	-12.65%	12.19	0.52	18.88%	446.66%
ETRN	3.6B	1.4B	59.42%	5.87%	-13.01	2.56	8.81%	80.31%
DKL	2.0B	1.1B	18.80%	2.03%	13.01	1.9	42.53%	-6.64%
SMALL-CAP
NS	1.9B	226.0M	3.36%	9.22%	8.53	8.41	436.62%	482.73%
RTLR	582.1M	-	19.84%	54.87%	15.22	1.44	-	-
VTNR	486.1M	3.4B	-18.86%	-55.98%	8.56	0.14	294.67%	439.41%
SMLP	202.8M	369.6M	-2.15%	-21.67%	-1.71	0.51	-7.74%	-284.00%

Financials for EnLink Midstream

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	-5.1%	9,051	9,542	9,586	8,764	7,613
Gross Profit	8.9%	1,416	1,300	1,188	-	-
S&GA Expenses	0.4%	126	125	119	113	111
EBITDA	-2.6%	800	822	717	599	-
EBITDA Margin	-2.2%	0.08*	0.09*	0.08*	0.08*	-
Earnings Before Taxes	8.8%	442	406	425	330	224
EBT Margin	-4.1%	0.04*	0.04*	0.04*	0.03*	-
Interest Expenses	-6.7%	-245	-229	-229	-233	-
Net Income	6.4%	384	361	256	177	70.00
Net Income Margin	41.7%	0.04*	0.03*	0.02*	0.01*	-
Free Cahsflow	-9.4%	717	792	692	719	-

Balance Sheet
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-1.2%	8,546,400,000	8,651,000,000	8,813,300,000	8,678,800,000	8,640,200,000
Current Assets	-12.6%	859,100,000	982,800,000	1,198,800,000	1,288,200,000	1,177,800,000
Cash Equivalents	222.1%	72,800,000	22,600,000	-	18,100,000	68,700,000
Net PPE	-0.2%	6,543,400,000	6,556,000,000	6,497,700,000	6,259,000,000	6,321,800,000
Current Liabilities	-19.1%	708,400,000	875,400,000	1,157,300,000	1,219,600,000	1,184,300,000
LT Debt, Non Current	2.2%	4,828,000,000	4,723,500,000	4,537,400,000	4,320,000,000	4,315,000,000
Accumulated Depreciation	2.6%	4,898,800,000	4,774,500,000	4,694,200,000	4,570,400,000	4,450,600,000

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-3.4%	1,014	1,049	1,084	938	939
Share Based Compensation	-8.6%	28.00	30.00	30.00	25.00	25.00
Cashflow From Investing	-11.7%	-863	-773	-623	-268	-271
Cashflow From Financing	47.9%	-145	-279	-497	-683	-671
Buy Backs	19.7%	209	175	139	89.00	57.00

Risks for ENLC

What is the probability of a big loss on ENLC?

100%

Probability that EnLink Midstream stock will be more than 20% underwater in next one year

54.2%

Probability that EnLink Midstream stock will be more than 30% underwater in next one year.

44.6%

Probability that EnLink Midstream stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does ENLC drawdown profile look like?

Y-axis is the maximum loss one would have experienced if EnLink Midstream was unfortunately bought at previous high price.

Drawdowns

Returns for ENLC

Cumulative Returns on ENLC

0.0%

10-Year Cumulative Returns

1.3%

7-Year Cumulative Returns

-2.8%

5-Year Cumulative Returns

70.8%

3-Year Cumulative Returns

What are the long-term rolling returns for ENLC?

FIve years rolling returns for EnLink Midstream.

Annualized Returns

Which funds bought or sold ENLC recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-26	ProShare Advisors LLC	new	-	248,854	248,854	-%
2023-05-24	Old North State Trust, LLC	sold off	-100	-13,000	-	-%
2023-05-23	Brookfield Corp /ON/	reduced	-9.12	-2,623,730	10,557,900	0.04%
2023-05-22	AMERIPRISE FINANCIAL INC	added	6.44	-11,704	166,296	-%
2023-05-18	JPMORGAN CHASE & CO	added	147	37,062,000	68,487,000	0.01%
2023-05-17	VIRGINIA RETIREMENT SYSTEMS ET AL	added	22.52	567,989	1,384,980	0.01%
2023-05-17	B. Riley Wealth Advisors, Inc.	reduced	-2.1	-163,599	1,028,880	0.03%
2023-05-17	Advisory Services Network, LLC	unchanged	-	-5,194	38,569	-%
2023-05-17	Sunbelt Securities, Inc.	new	-	17,549	17,549	-%
2023-05-16	SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC	reduced	-18.07	-1,523,940	3,959,220	0.09%

Latest Funds Activity

Are funds buying ENLC calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own ENLC

No. of Funds

EnLink Midstream News

Schedule 13G FIlings of EnLink Midstream

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2023	alps advisors inc	10.11%	47,883,103	SC 13G/A
Feb 03, 2023	invesco ltd.	6.0%	28,229,975	SC 13G/A
Feb 09, 2022	invesco ltd.	8.0%	39,070,300	SC 13G/A
Feb 03, 2022	alps advisors inc	8.89%	43,392,248	SC 13G/A
Aug 06, 2021	goldman sachs group inc	0.14%	677,150	SC 13D/A
Aug 06, 2021	tpg advisors vii, inc.	0%	0	SC 13D/A
Aug 06, 2021	enfield holdings advisors, inc.	0%	0	SC 13D/A
Feb 12, 2021	tortoise capital advisors, l.l.c.	0.0%	134,338	SC 13G/A
Feb 09, 2021	alps advisors inc	6.03%	33,136,669	SC 13G/A
Feb 09, 2021	invesco ltd.	8.3%	45,729,797	SC 13G/A

ENLC Fair Value

Show Fair-Value

Recent SEC filings of EnLink Midstream

View All Filings

Date Filed	Form Type	Document
May 03, 2023	10-Q	Quarterly Report
May 02, 2023	8-K	Current Report
Apr 04, 2023	UPLOAD	UPLOAD
Apr 04, 2023	4	Insider Trading
Apr 03, 2023	8-K	Current Report
Mar 31, 2023	CORRESP	CORRESP
Mar 30, 2023	8-K	Current Report
Mar 29, 2023	3	Insider Trading
Mar 24, 2023	4	Insider Trading
Mar 24, 2023	4	Insider Trading

Latest Insider Trading transactions for ENLC

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-04-01	Rossbach Jan Philipp	sold (taxes)	-43,414	10.84	-4,005	vp & chief accounting officer
2023-03-22	Pinto Walter	acquired	-	-	47,553	evp and coo
2023-03-22	Rossbach Jan Philipp	acquired	-	-	14,774	vp & chief accounting officer
2023-03-22	CEPAK TIFFANY THOM	acquired	-	-	11,542	-
2023-03-22	Brooks Alaina K	acquired	-	-	53,093	evp, cl&ao, and secretary
2023-03-22	Arenivas Jesse	acquired	-	-	155,586	chief executive officer
2023-03-22	Lamb Benjamin D	acquired	-	-	85,411	evp and cfo
2023-03-22	Adams Deborah G	acquired	-	-	11,542	-
2023-03-22	ECHOLS LELDON E	acquired	-	-	11,542	-
2023-02-21	Lamb Benjamin D	sold	-2,389,800	11.38	-210,000	evp and cfo

About EnLink Midstream

Barry E. Davis

www.enlink.com

1070

EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services. Its midstream energy asset network includes approximately 12,100 miles of pipelines; 22 natural gas processing plants;7 fractionators with approximately 320,000 barrels per day; barge and rail terminals; product storage facilities; brine disposal wells; and a crude oil trucking fleet. The company was incorporated in 2013 and is based in Dallas, Texas.

ENLC Income Statement

2023-03-31

Consolidated Statements of Operations - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Revenues:

Revenue from contracts with customers

$ 1,755.6

$ 2,258.9

Gain (loss) on derivative activity

11.9

(31.2)

Total revenues

1,767.5

2,227.7

Operating costs and expenses:

Cost of sales, exclusive of operating expenses and depreciation and amortization

^[1]

1,271.9

1,794.5

Operating expenses

132.4

120.9

Depreciation and amortization

160.4

152.9

(Gain) loss on disposition of assets

(0.4)

5.1

General and administrative

29.5

29.0

Total operating costs and expenses

1,593.8

2,102.4

Operating income

173.7

125.3

Other income (expense):

Interest expense, net of interest income

(68.5)

(55.1)

Loss from unconsolidated affiliate investments

(0.1)

(1.1)

Other income

0.0

0.1

Total other expense

(68.6)

(56.1)

Income before non-controlling interest and income taxes

105.1

69.2

Income tax expense

(10.9)

(3.2)

Net income

94.2

66.0

Net income attributable to non-controlling interest

36.0

30.8

Net income attributable to ENLC

$ 58.2

$ 35.2

Net income attributable to ENLC per unit:

Basic common unit (in dollars per share)

$ 0.12

$ 0.07

Diluted common unit (in dollars per share)

$ 0.12

$ 0.07

Product sales

Revenues:

Revenue from contracts with customers

$ 1,476.3

$ 2,043.9

Midstream services

Revenues:

Revenue from contracts with customers

$ 279.3

$ 215.0

[1]	Includes related party cost of sales of $1.5 million and $10.6 million for the three months ended March 31, 2023 and 2022, respectively.

ENLC Balance Sheet

2023-03-31

Consolidated Balance Sheets - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

Current assets:

Cash and cash equivalents

$ 72.8

$ 22.6

Accounts receivable:

Trade receivables

^[1]

86.3

89.2

Accrued revenue and other

537.5

636.0

Fair value of derivative assets

68.5

68.4

Other current assets

94.0

166.6

Total current assets

859.1

982.8

Property and equipment, net of accumulated depreciation of $4,898.8 and $4,774.5, respectively

6,543.4

6,556.0

Intangible assets, net of accumulated amortization of $955.5 and $923.6, respectively

889.3

921.2

Investment in unconsolidated affiliates

140.4

90.2

Fair value of derivative assets

13.6

2.9

Other assets, net

100.6

97.9

Total assets

8,546.4

8,651.0

Current liabilities:

Accounts payable and drafts payable

111.4

126.9

Accrued gas, NGLs, condensate, and crude oil purchases

^[2]

360.0

476.0

Fair value of derivative liabilities

41.1

42.9

Other current liabilities

195.9

229.6

Total current liabilities

708.4

875.4

Long-term debt, net of unamortized issuance cost

4,828.0

4,723.5

Other long-term liabilities

96.6

94.0

Deferred tax liability, net

53.2

42.7

Fair value of derivative liabilities

18.3

2.7

Members’ equity:

Members’ equity (467,137,866 and 468,980,630 units issued and outstanding, respectively)

1,238.7

1,306.4

Accumulated other comprehensive loss

(1.2)

0.0

Non-controlling interest

1,604.4

1,606.3

Total members’ equity

2,841.9

2,912.7

Commitments and contingencies (Note 16)

Total liabilities and members’ equity

$ 8,546.4

$ 8,651.0

[1]	There was no allowance for bad debt at March 31, 2023. Includes allowance for bad debt of $0.1 million at December 31, 2022.
[2]	Includes related party accounts payable balances of $1.2 million and $2.5 million at March 31, 2023 and December 31, 2022, respectively.