Short Interest in EnLink Midstream, LLC (NYSE:ENLC) Decreases By 6.4%

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

Analyst Upgrades and Downgrades

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

EnLink Midstream Trading Up 0.4 %

Shares of NYSE:ENLC traded up $0.07 during mid-day trading on Friday, hitting $15.37. The stock had a trading volume of 2,791,566 shares, 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 debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market cap of $7.02 billion, a PE ratio of 73.17 and a beta of 2.43. The company’s 50 day moving average is $14.91 and its 200-day moving average is $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 analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the company earned $0.10 EPS. EnLink Midstream’s revenue for the quarter was down 7.9% on a year-over-year basis. On average, sell-side analysts predict that EnLink Midstream will post 0.46 EPS for the current year.

Institutional Trading of EnLink Midstream

A number of institutional investors and hedge funds have recently made changes to their positions in ENLC. Newbridge Financial Services Group Inc. acquired a new stake in shares of EnLink Midstream in the second quarter valued at about $56,000. Wilmington Savings Fund Society FSB bought a new position in EnLink Midstream in the 3rd quarter worth approximately $98,000. Icon Wealth Advisors LLC acquired a new position in shares of EnLink Midstream during the third quarter worth approximately $107,000. SG Americas Securities LLC acquired a new position in EnLink Midstream during the 4th quarter valued at $114,000. Finally, Sunbelt Securities Inc. lifted its stake 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 valued at $116,000 after buying an additional 1,511 shares during the period. Institutional investors and hedge funds own 45.87% of the company’s stock.

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.