Why EnLink Midstream's Shares Popped 14.1% on Thursday
Shares of energy stock EnLink Midstream (NYSE: ENLC) jumped as much as 14.1% in trading on Friday after the company announced an increase to 2021 guidance. Shares closed the day up 13%.
Management now expects full-year 2021 net income to be $125 million to $165 million, up from a previous guidance range of $45 million to $105 million. Adjusted EBITDA is expected to be $1.02 billion to $1.06 billion, up from $940 million to $1 billion. As a result of these improvements, debt-to-adjusted-EBITDA is expected to be between 4 times and 4.2 times at year-end.
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Source Fool.com
