Short Interest in EnLink Midstream, LLC (NYSE:ENLC) Increases By 40.9%

EnLink Midstream, LLC (NYSE:ENLC) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 11,570,000 shares, a growth of 40.9% from the October 15th total of 8,210,000 shares. Based on an average daily volume of 2,200,000 shares, the days-to-cover ratio is currently 5.3 days. Currently, 4.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

ENLC has been the subject of several analyst reports. Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. UBS Group downgraded EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research report on Monday, September 30th. Mizuho reiterated a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research report on Friday, August 30th. Nine research 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 MarketBeat, EnLink Midstream presently has an average rating of “Hold” and an average price target of $15.40.

EnLink Midstream Trading Up 1.0 %

NYSE:ENLC traded up $0.16 during midday trading on Friday, hitting $15.49. 1,766,869 shares of the company traded hands, compared to its average volume of 1,826,942. The company has a current ratio of 0.42, a quick ratio of 0.65 and a debt-to-equity ratio of 2.30. EnLink Midstream has a 12-month low of $11.53 and a 12-month high of $15.67. The firm has a market capitalization of $7.08 billion, a P/E ratio of 73.79 and a beta of 2.41. The firm’s fifty day moving average is $14.77 and its 200-day moving average is $13.85.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 EPS. On average, sell-side analysts predict that EnLink Midstream will post 0.55 EPS for the current year.

EnLink Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.1325 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.42%. EnLink Midstream’s dividend payout ratio (DPR) is currently 252.38%.

Insider Buying and Selling

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EnLink Midstream

Institutional investors and hedge funds have recently bought and sold shares of the company. ORG Partners LLC purchased a new position in EnLink Midstream during the second quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. bought a new stake in EnLink Midstream during the second quarter valued at about $56,000. SG Americas Securities LLC purchased a new position in EnLink Midstream in the first quarter valued at about $105,000. First Horizon Advisors Inc. lifted its position in shares of EnLink Midstream by 12.5% during 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 during the last quarter. Finally, Icon Wealth Advisors LLC purchased a new position in shares of EnLink Midstream in the 3rd quarter worth approximately $107,000. 45.87% of the stock is owned by institutional investors.

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.