As of Thursday close, EnLink Midstream LLC’s (NYSE:ENLC) stock was down -$0.05, moving down -0.40 percent to $12.44. The average number of shares traded per day over the past five days has been 1,358,660 shares. 5 times new highs have been achieved over the past 5 days, with a $0.28 gain in that time frame. In the last twenty days, the average volume was 1,974,650, while in the previous 50 days, it was 2,026,444.
Since last month, ENLC stock rose 8.17%. Shares of the company fell to $10.91 on 08/02/23, the lowest level in the past month. A 52-week high of $13.58 was reached on 01/17/23 after having rallying from a 52-week low of $8.04. Since the beginning of this year, ENLC’s stock price has risen by 1.14% or $0.14, and marked a new high 6 times. However, the stock has declined by -8.39% since its 52-week high.
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ENLC stock investors should be aware that EnLink Midstream LLC (ENLC) stock had its last reported insider trading activity 21 days ago on Aug 11. Brooks Alaina K, the EVP, CL&AO, and Secretary of the company, disposed of 35,023 shares for $12.00 on Aug 11. It resulted in a $420,276 divestment by the insider. Brooks Alaina K sold 40,210 shares at an average price of $12.05 on Aug 10. The insider now owns 500,509 shares following the transaction. On Aug 09, EVP, CL&AO, and Secretary Brooks Alaina K sold 131,586 shares at $12.13 apiece. The transaction was valued at $1,596,138.
Valuation Metrics
Right now, EnLink Midstream LLC (ENLC) has a P/E ratio of about 16.79. The stock’s beta is 2.45. Besides these, the trailing price-to-sales (P/S) ratio of 0.71, the price-to-book (PB) ratio of 4.96, and the price-to-cash flow ratio of 7.63 may also be considered.
The latest dividend of $0.1250 per share was paid out, remained unchanged from last year’s $0.1250. On Wednesday January 18 2023, a $0.0125 dividend increase was announced.
Financial Health
In the three months ended June 29, EnLink Midstream LLC’s quick ratio stood at 0.90, while its current ratio was 1.00, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 4.00, and the total debt-to-equity ratio was 4.08. On the profitability front, the trailing twelve-month gross margin is 25.60% percent. In the year ended June 29, EBITDA margin amounted to 13.70%, whereas operating margins totaled 8.80%. Based on annual data, ENLC earned $661.8 million in gross profit and brought in $9.54 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 12.40%. Return on equity (ROE) for the past 12 months was 28.50%.
In EnLink Midstream LLC’s quarter-end financial report for June 29, it reported total debt of $4.64 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. ENLC’s revenue fell -69.96% to $1.77 billion during the quarter, while net income inched up to $1.53 billion. While analysts expected EnLink Midstream LLC to report $0.11 quarterly earnings, the actual figure was $0.12 per share, beating the consensus estimate by 9.10%. During the quarter, the company generated $349.0 million in EBITDA. The liabilities of EnLink Midstream LLC were 5.63 billion at the end of its most recent quarter ended June 29, and its total debt was $4.77 billion. The value of shareholders’ equity is $461.5 million.
Technical Picture
This quick technical analysis looks at EnLink Midstream LLC’s (ENLC) price momentum. With a historical volatility rate of 9.48%, the RSI 9-day stood at 67.66% on 31 August.
With respect to its five-day moving average, the current EnLink Midstream LLC price is up by +2.30% percent or $0.28. At present, ENLC shares trade +5.25% above its 20-day simple moving average and +17.69% percent above its 100-day simple moving average. However, the stock is currently trading approximately +23.41% above its SMA50 and +3.49% above its SMA200.
Stochastic coefficient K was 87.49% and Stochastic coefficient D was 91.24%, while ATR was 0.26. Given the Stochastic reading of 79.28% for the 14-day period, the RSI (14) reading has been calculated as 66.33%. As of today, the MACD Oscillator reading stands at 0.19, while the 14-day reading stands at 0.37.
Analyst Ratings
UBS launched its rating on EnLink Midstream LLC (NYSE: ENLC) to a Buy in a note to investors on June 26, 2023. EnLink Midstream LLC (ENLC) has been rated Overweight by analysts. According to 0 brokerage firms, ENLC is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate EnLink Midstream LLC stock as buy, with 5 recommending it as overweight.
With a median target price of $13.00, the current consensus forecast for the stock is $12.00 – $17.00. Based on these forecasts, analysts predict EnLink Midstream LLC (ENLC) will achieve an average price target of $13.64.
