The stock of EnLink Midstream LLC (NYSE:ENLC) increased by $0.25 on Wednesday to $11.86, up 2.20 percent. The last five days have seen an average of 1,216,223 shares of common stock traded. 6 times new highs were reached in the current year, with a fall of -$0.43. The average number of shares traded over the last 20 days was 2,277,191, while the average volume over the last 50 days totaled 2,586,030.
ENLC stock appreciated 3.90% since last month. On 08/02/23, the company’s shares reached a one-month low of $10.91. The stock touched a high of $13.58 on 01/17/23, after rallying from a low of $8.04 in 52 weeks. The price of ENLC stock has declined by -3.54% or -$0.43 this year, reaching a new high 6 times. Still, the stock price is down -12.63% from the 52-week high.
Insider Transactions
ENLC stock investors should be aware that EnLink Midstream LLC (ENLC) stock had its last reported insider trading activity 5 days ago on Aug 11. On Aug 11, EVP, CL&AO, and Secretary Brooks Alaina K sold 35,023 shares at $12.00 each. This transaction resulted in the insider making $420,276. On Aug 10, Brooks Alaina K sold 40,210 shares at a price of US$12.05. After the transaction, the insider now owns 500,509 shares. EVP, CL&AO, and Secretary Brooks Alaina K had earlier sold 131,586 shares on Aug 09 for $12.13 a share. The transaction was completed for $1,596,138.
Valuation Metrics
EnLink Midstream LLC (ENLC) has a trailing price-to-earnings (P/E) ratio of 16.01. Beta for the stock is 2.44. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.68, the price-to-book (PB) ratio of 4.73, and the price-to-cash flow ratio of 7.37.
Company paid $0.1250 per share in dividends, remained unchanged from $0.1250 last year. A $0.0125 dividend increase was reported on Wednesday January 18 2023.
Financial Health
For the three months ended June 29, EnLink Midstream LLC’s quick ratio was 0.90, while its current ratio was 1.00, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 4.00, and the total debt to equity ratio is 4.08. As far as profitability goes, gross margin for the trailing twelve months is 25.60% percent. EnLink Midstream LLC’s EBITDA margin for the year ended June 29 was 13.70%, whereas its operating margin stood at 8.80% for the same period. Based on annual data, it had gross profit of $661.8 million and revenue of $9.54 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ENLC’s return on assets (ROA) during the last 12 months has been 4.10%. There was a 12.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 28.50%.
Earnings Surprise
According to EnLink Midstream LLC’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.53 billion, while revenues fell by -69.96% to $1.77 billion. It was predicted that EnLink Midstream LLC’s quarterly earnings would be $0.12, but it ended up being $0.11, beating the consensus by 9.10%. EBITDA was $349.0 million for the quarter. At the end of EnLink Midstream LLC’s most recent quarter ended June 29, its liabilities totaled 5.63 billion, while its total debt was $4.77 billion. Equity owned by shareholders amounts to $461.5 million.
Technical Picture
Here’s a quick look at EnLink Midstream LLC’s (ENLC) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 55.88%, suggesting the stock is Neutral, with a 29.01% historical volatility rate.
The stochastic %K and %D were 55.30% and 59.79% respectively, while the average true range (ATR) was 0.31. Based on the 14-day stochastic reading of 63.91%, the RSI (14) reading is 58.14%. On the 9-day MACD Oscillator, the stock is at -0.18, and the 14-day reading is at -0.05.
Analyst Ratings
In its analyst report released on June 26, 2023, UBS began covering EnLink Midstream LLC (NYSE: ENLC). The stock was rated as a Buy by the brokerage firm. Analysts have assigned EnLink Midstream LLC (ENLC) an Overweight rating. ENLC is a stock that is recommended for selling by 0 brokerage firms, while 5 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 5 others recommend it as a buy.
What is ENLC’s price target for the next 12 months?
The current consensus forecast for the stock is between $12.00 and $17.00, with a median target price of $13.00. In analyzing these forecasts, the average price target given by analysts for EnLink Midstream LLC (ENLC) is $13.64.
