EnLink Midstream, LLC (NYSE:ENLC) Short Interest Update

EnLink Midstream, LLC (NYSE:ENLC) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 8,500,000 shares, a decline of 6.4% from the December 15th total of 9,080,000 shares. Based on an average trading volume of 2,430,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 3.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

ENLC has been the topic of a number of research analyst reports. Mizuho restated a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a report on Thursday, October 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a research note on Thursday, November 21st. StockNews.com assumed coverage on EnLink Midstream in a report on Wednesday, January 15th. They set a “hold” rating on the stock. UBS Group lowered EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research note on Monday, September 30th. Finally, US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Stock Up 0.4 %

Shares of EnLink Midstream stock traded up $0.07 on Monday, reaching $15.37. The stock had a trading volume of 2,791,566 shares, compared to its average volume of 1,802,574. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The stock has a market capitalization of $7.02 billion, a P/E ratio of 73.17 and a beta of 2.43. The company has a 50 day moving average price of $14.91 and a 200 day moving average price of $14.38. EnLink Midstream has a 1 year low of $11.53 and a 1 year high of $16.40.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. EnLink Midstream’s revenue for the quarter was down 7.9% compared to the same quarter last year. As a group, equities research analysts forecast that EnLink Midstream will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of EnLink Midstream during the second quarter worth about $56,000. Wilmington Savings Fund Society FSB acquired a new stake in EnLink Midstream in the 3rd quarter worth approximately $98,000. Icon Wealth Advisors LLC purchased a new stake in EnLink Midstream during the 3rd quarter worth approximately $107,000. SG Americas Securities LLC acquired a new position in EnLink Midstream during the 4th quarter valued at approximately $114,000. Finally, Sunbelt Securities Inc. raised its holdings in shares of EnLink Midstream by 21.9% in the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after buying an additional 1,511 shares during the last quarter. 45.87% of the stock is owned by institutional investors and hedge funds.

EnLink Midstream Company Profile

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.