EnLink Midstream LLC (NYSE:ENLC) shares traded -0.31% lower at $12.70 on Wall Street last session.
In accordance with the data, 11 analysts cover EnLink Midstream LLC (NYSE:ENLC). 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 $12.00, we find $14.00. Given the previous closing price of $12.74, this indicates a potential upside of 9.89 percent. ENLC stock price is now 6.31% away from the 50-day moving average and 12.61% away from the 200-day moving average. The market capitalization of the company currently stands at $6.00B.
It has been rated a hold by 5 analysts and a buy by 5. Brokers who have rated the stock have averaged $13.91 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, Brooks Alaina K, EVP, CL&AO, and Secretary sold 35,023 shares of the company’s stock on Aug 11. The stock was sold for $420,276 at an average price of $12.00. Upon completion of the transaction, the EVP, CL&AO, and Secretary now directly owns 465,486 shares in the company, valued at $5.91 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 10, EVP, CL&AO, and Secretary Brooks Alaina K sold 40,210 shares of the business’s stock. A total of $484,530 was realized by selling the stock at an average price of $12.05. This leaves the insider owning 500,509 shares of the company worth $6.36 million. Insiders disposed of 1,086,754 shares of company stock worth roughly $13.8 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 $58,504,000. HRT FINANCIAL LP invested $15,554,000 in shares of ENLC during the first quarter. In the first quarter, MACQUARIE GROUP LTD acquired a new stake in EnLink Midstream LLC valued at approximately $12,892,000. KAYNE ANDERSON CAPITAL ADVISORS LP acquired a new stake in ENLC for approximately $12,400,000. EXCHANGE TRADED CONCEPTS, LLC purchased a new stake in ENLC valued at around $5,993,000 in the second quarter. In total, there are 243 active investors with 92.50% ownership of the company’s stock.
EnLink Midstream LLC (NYSE: ENLC) opened at $12.64 on Wednesday. During the past 12 months, EnLink Midstream LLC has had a low of $8.04 and a high of $13.58. As of last week, the company has a debt-to-equity ratio of 4.08, a current ratio of 1.00, and a quick ratio of 0.90. The fifty day moving average price for ENLC is $11.98 and a two-hundred day moving average price translates $11.28 for the stock.
The latest earnings results from EnLink Midstream LLC (NYSE: ENLC) was released for Jun, 2023. According to the Oil & Gas Midstream Company, earnings per share came in at $0.12, beating analysts’ expectations of $0.11 by 0.01. This compares to $0.17 EPS in the same period last year. The net profit margin was 4.40% and return on equity was 28.50% for ENLC. The company reported revenue of $1.53 billion for the quarter, compared to $2.6 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -41.16 percent. For the current quarter, analysts expect ENLC to generate $2.04B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/11/2023. Investors who held shares on 07/28/2023 were paid a $0.125 dividend. On an annualized basis, this represents a $0.50 dividend and a 3.94% percent yield. There was an ex-dividend date of 07/27/2023 for this dividend. In terms of dividend payout ratio, ENLC is presently at 63.30%.
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.
