Short Interest in EnLink Midstream, LLC (NYSE:ENLC) Decreases By 20.1%

EnLink Midstream, LLC (NYSE:ENLC) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 9,240,000 shares, a decline of 20.1% from the October 31st total of 11,570,000 shares. Currently, 3.6% of the company’s stock are sold short. Based on an average daily volume of 2,450,000 shares, the short-interest ratio is presently 3.8 days.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Capital One Financial reissued an “equal weight” rating and set a $16.00 target price on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday, August 16th. Morgan Stanley lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a research report on Monday, September 16th. Stifel Nicolaus downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research note on Friday, August 30th. Finally, Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Ten investment 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.40.

Insider Buying and Selling at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is owned by insiders.

Hedge Funds Weigh In On EnLink Midstream

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in EnLink Midstream by 9.7% in the 3rd quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock valued at $266,000 after buying an additional 1,623 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of EnLink Midstream in the 3rd quarter valued at $98,000. Sanctuary Advisors LLC grew its holdings in shares of EnLink Midstream by 8.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,031 shares of the pipeline company’s stock worth $473,000 after purchasing an additional 2,362 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of EnLink Midstream during the 3rd quarter worth about $363,000. Finally, Brookfield Corp ON lifted its holdings in EnLink Midstream by 97.1% during the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after purchasing an additional 1,775,203 shares during the last quarter. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Up 1.0 %

NYSE ENLC traded up $0.16 during trading on Friday, reaching $16.01. 1,240,045 shares of the company’s stock were exchanged, compared to its average volume of 3,268,678. The company’s fifty day simple moving average is $15.02 and its 200-day simple moving average is $14.03. The firm has a market capitalization of $7.32 billion, a PE ratio of 76.24 and a beta of 2.41. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $16.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. EnLink Midstream’s revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. Sell-side analysts predict that EnLink Midstream will post 0.51 EPS for the current year.

EnLink Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a $0.1325 dividend. This represents a $0.53 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream’s dividend payout ratio is currently 252.38%.

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.