EnLink Midstream LLC (NYSE:ENLC) Short Interest Up 11.3% in December
EnLink Midstream LLC (NYSE:ENLC) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 15,220,000 shares, a growth of 11.3% from the December 15th total of 13,670,000 shares. Approximately 6.0% of the shares of the company are short sold. Based on an average trading volume of 4,890,000 shares, the short-interest ratio is presently 3.1 days.
ENLC traded up $0.30 on Thursday, hitting $6.04. The company’s stock had a trading volume of 242,342 shares, compared to its average volume of 6,249,789. The company’s 50 day simple moving average is $5.53 and its 200-day simple moving average is $7.34. The firm has a market cap of $2.80 billion, a P/E ratio of -84.86, a price-to-earnings-growth ratio of 6.92 and a beta of 2.02. EnLink Midstream has a 12 month low of $4.33 and a 12 month high of $13.10. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.96.
EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.05). The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.77 billion. EnLink Midstream had a negative return on equity of 0.09% and a negative net margin of 3.48%. The firm’s quarterly revenue was down 33.4% on a year-over-year basis. During the same period last year, the business posted $0.04 earnings per share. Equities analysts predict that EnLink Midstream will post 0.19 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in EnLink Midstream by 21,575.0% in the 2nd quarter. Invesco Ltd. now owns 13,994,487 shares of the pipeline company’s stock valued at $141,204,000 after purchasing an additional 13,929,922 shares during the period. Alps Advisors Inc. raised its position in shares of EnLink Midstream by 37.7% during the 3rd quarter. Alps Advisors Inc. now owns 31,335,519 shares of the pipeline company’s stock valued at $266,352,000 after buying an additional 8,578,208 shares in the last quarter. Chickasaw Capital Management LLC raised its position in shares of EnLink Midstream by 19.1% during the 4th quarter. Chickasaw Capital Management LLC now owns 27,081,976 shares of the pipeline company’s stock valued at $166,013,000 after buying an additional 4,338,825 shares in the last quarter. Brookfield Asset Management Inc. raised its position in shares of EnLink Midstream by 20.4% during the 2nd quarter. Brookfield Asset Management Inc. now owns 17,233,683 shares of the pipeline company’s stock valued at $173,887,000 after buying an additional 2,919,413 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of EnLink Midstream by 935.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,615,498 shares of the pipeline company’s stock valued at $26,391,000 after buying an additional 2,362,809 shares in the last quarter. 46.82% of the stock is owned by institutional investors.
ENLC has been the subject of a number of research reports. TheStreet downgraded shares of EnLink Midstream from a “c-” rating to a “d+” rating in a research report on Friday, November 15th. Robert W. Baird raised shares of EnLink Midstream from a “neutral” rating to an “outperform” rating and set a $6.00 target price for the company in a research report on Thursday, December 5th. Wells Fargo & Co downgraded shares of EnLink Midstream from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research report on Tuesday, January 7th. Zacks Investment Research raised shares of EnLink Midstream from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Barclays reaffirmed a “neutral” rating on shares of EnLink Midstream in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.88.
EnLink Midstream Company Profile
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. 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.
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