EnLink Midstream, LLC (NYSE:ENLC) Short Interest Up 12.0% in September

EnLink Midstream, LLC (NYSE:ENLC) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 9,080,000 shares, a growth of 12.0% from the September 15th total of 8,110,000 shares. Currently, 3.9% of the shares of the company are sold short. Based on an average trading volume of 2,400,000 shares, the days-to-cover ratio is currently 3.8 days.

Analyst Upgrades and Downgrades

ENLC has been the subject of a number of recent analyst reports. Stifel Nicolaus cut shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a report on Friday, August 30th. Wells Fargo & Company downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $16.00 to $15.00 in a research note on Friday, August 30th. JPMorgan Chase & Co. lifted their price target on EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. UBS Group cut EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research report on Monday, September 30th. Finally, Capital One Financial reaffirmed an “equal weight” rating and set a $16.00 target price on shares of EnLink Midstream in a research report on Tuesday, September 3rd. Seven analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, EnLink Midstream currently has an average rating of “Hold” and an average price target of $15.44.

Institutional Trading of EnLink Midstream

A number of large investors have recently bought and sold shares of ENLC. ORG Partners LLC bought a new position in shares of EnLink Midstream in the second quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. bought a new position in EnLink Midstream in the 2nd quarter valued at $56,000. Sunbelt Securities Inc. boosted its stake in EnLink Midstream by 24.2% in the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after purchasing an additional 1,343 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of EnLink Midstream during the first quarter worth $105,000. Finally, First Horizon Advisors Inc. increased its stake in shares of EnLink Midstream by 12.5% in the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after buying an additional 853 shares in the last quarter. 45.87% of the stock is currently owned by institutional investors.

EnLink Midstream Stock Performance

EnLink Midstream stock traded down $0.04 on Thursday, hitting $14.57. The company’s stock had a trading volume of 1,005,722 shares, compared to its average volume of 2,032,672. The company has a fifty day moving average price of $14.03 and a 200-day moving average price of $13.65. The firm has a market cap of $6.58 billion, a P/E ratio of 41.79 and a beta of 2.40. EnLink Midstream has a one year low of $11.53 and a one year high of $14.80. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.06). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS. On average, equities analysts anticipate that EnLink Midstream will post 0.59 earnings per share for the current year.

EnLink Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.1325 per share. The ex-dividend date is Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.64%. EnLink Midstream’s dividend payout ratio (DPR) is presently 151.43%.

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.