In yesterday’s Wall Street session, EnLink Midstream LLC (NYSE:ENLC) shares traded at $10.90, up 1.68% from the previous session.
11 analysts cover EnLink Midstream LLC (NYSE:ENLC), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $17.00 and a low of $11.00, we find $13.00. Given the previous closing price of $10.72, this indicates a potential upside of 21.27 percent. ENLC stock price is now 10.73% away from the 50-day moving average and -1.08% away from the 200-day moving average. The market capitalization of the company currently stands at $5.00B.
The stock has received a hold rating from 5 analysts and a buy rating from 5. Brokers who have rated the stock have averaged $13.36 as their price target over the next twelve months.
With the price target of $14, UBS recently initiated with Buy rating for EnLink Midstream LLC (NYSE: ENLC).
In other news, Lamb Benjamin D, EVP and CFO sold 210,000 shares of the company’s stock on Feb 21. The stock was sold for $2,389,800 at an average price of $11.38. Upon completion of the transaction, the EVP and CFO now directly owns 497,107 shares in the company, valued at $5.42 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 17, EVP and CFO Lamb Benjamin D sold 180,000 shares of the business’s stock. A total of $2,115,000 was realized by selling the stock at an average price of $11.75. This leaves the insider owning 707,107 shares of the company worth $7.71 million. Insiders disposed of 1,183,852 shares of company stock worth roughly $12.9 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ENLC stock. A new stake in EnLink Midstream LLC shares was purchased by WESTWOOD HOLDINGS GROUP INC during the first quarter worth $50,212,000. POINT72 ASSET MANAGEMENT, L.P. invested $4,431,000 in shares of ENLC during the first quarter. In the first quarter, MARSHALL WACE, LLP acquired a new stake in EnLink Midstream LLC valued at approximately $4,109,000. WALLEYE CAPITAL LLC acquired a new stake in ENLC for approximately $3,165,000. TWINBEECH CAPITAL LP purchased a new stake in ENLC valued at around $2,581,000 in the second quarter. In total, there are 255 active investors with 92.50% ownership of the company’s stock.
On Friday morning EnLink Midstream LLC (NYSE: ENLC) stock kicked off with the opening price of $10.74. During the past 12 months, EnLink Midstream LLC has had a low of $7.86 and a high of $13.58. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.20, and a quick ratio of 1.10. The fifty day moving average price for ENLC is $9.87 and a two-hundred day moving average price translates $11.02 for the stock.
The latest earnings results from EnLink Midstream LLC (NYSE: ENLC) was released for Mar, 2023. According to the Oil & Gas Midstream Company, earnings per share came in at $0.12, inline with analysts’ expectations of $0.12. This compares to $0.07 EPS in the same period last year. The net profit margin was 4.20% and return on equity was 30.20% for ENLC. The company reported revenue of $1.77 billion for the quarter, compared to $2.23 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -20.66 percent. For the current quarter, analysts expect ENLC to generate $1.62B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/12/2023. Investors who held shares on 04/28/2023 were paid a $0.125 dividend. On an annualized basis, this represents a $0.50 dividend and a 4.59% percent yield. There was an ex-dividend date of 04/27/2023 for this dividend. In terms of dividend payout ratio, ENLC is presently at 57.10%.
EnLink Midstream LLC(ENLC) Company Profile
EnLink Midstream, LLC provides midstream energy services in the United States. It operates through five segments: Permian, Louisiana, Oklahoma, North Texas, and Corporate. The company 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. Its midstream energy asset network includes natural gas processing plants; fractionators; barge and rail terminals; product storage facilities; brine disposal wells; and a crude oil trucking fleet. The company was incorporated in 2013 and is based in Dallas, Texas.
