EnLink Midstream, LLC (NYSE:ENLC) Sees Significant Decrease in Short Interest

EnLink Midstream, LLC (NYSE:ENLC) was the recipient of a significant decline in short interest during 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. Approximately 3.4% of the shares of the company are sold short. Based on an average daily volume of 2,430,000 shares, the short-interest ratio is presently 3.5 days.

Institutional Trading of EnLink Midstream

Several large investors have recently added to or reduced their stakes in ENLC. Newbridge Financial Services Group Inc. acquired a new stake in shares of EnLink Midstream in the 2nd quarter valued at $56,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of EnLink Midstream in the third quarter worth about $98,000. Icon Wealth Advisors LLC bought a new stake in shares of EnLink Midstream during the 3rd quarter worth about $107,000. SG Americas Securities LLC bought a new position in shares of EnLink Midstream in the 4th quarter valued at approximately $114,000. Finally, Sunbelt Securities Inc. lifted its holdings in EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after purchasing an additional 1,511 shares during the last quarter. 45.87% of the stock is owned by institutional investors.

EnLink Midstream Stock Up 0.4 %

Shares of EnLink Midstream stock traded up $0.07 on Friday, hitting $15.37. 2,791,566 shares of the company traded hands, compared to its average volume of 1,802,574. EnLink Midstream has a 12-month low of $11.53 and a 12-month high of $16.40. 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 company has a market cap of $7.02 billion, a PE 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 (NYSE:ENLC) last issued its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. Sell-side analysts predict that EnLink Midstream will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Mizuho restated a “neutral” rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, October 31st. Finally, UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Monday, September 30th. Eleven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, EnLink Midstream presently has a consensus rating of “Hold” and an average price target of $15.40.

About EnLink Midstream

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.