Enlink Midstream LLC (NYSE:ENLC) finished Wednesday with an addition of $0.17 to close at $12.49, an upside of 1.38 percent. An average of 5,331,060 shares of common stock have been traded in the last five days. There was a fall of -$0.21 in the past week, and it reached a new high 22 times over the past 12 months. The last 20 days have seen an average of 3,264,120 shares traded, while the 50-day average volume stands at 2,553,130.
ENLC stock has increased by 0.40% in the last month. The company shares reached their 1-month lowest point of $12.12 on 09/11/23. With the stock rallying to its 52-week high on 01/17/23, shares of the company touched a low of $8.31 and a high of $13.58 in 52 weeks. It has reached a new high 6 times so far this year and achieved 1.54% or $0.19 in price. In spite of this, the price is down -8.03% from the 52-week high.
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Insider Transactions
ENLC stock investors should be aware that Enlink Midstream LLC (ENLC) stock had its last reported insider trading activity 48 days ago on Aug 11. In this transaction, the insider spent $420,276. EVP, CL&AO, and Secretary, Brooks Alaina K, disposed of 40,210 shares at a price of $12.05 on Aug 10. The insider now owns more than $484,530 worth of shares. Prior to that, EVP, CL&AO, and Secretary Brooks Alaina K went on to Sale 131,586 shares at $12.13 each on Aug 09. An amount of $1,596,138 was transacted.
Valuation Metrics
Enlink Midstream LLC (ENLC) has a trailing price-to-earnings (P/E) ratio of 16.85. The stock’s beta is 2.41. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.73, the price-to-book (PB) ratio at 4.97, and the price-to-cash flow ratio at 7.76.
The company has a payout ratio of 60.44%. The company’s most recent quarterly dividend payment was $0.1250 a share, without any change from last year. Its latest increase dividend $0.0125 reported on Wednesday January 18 2023.
Financial Health
The quick ratio of Enlink Midstream LLC for the recent quarter was 0.88, and the current ratio was 0.98, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 4.00 and a total debt to equity ratio of 4.11 for the recent quarter. Enlink Midstream LLC’s EBITDA margin is 13.70%, while its operating margin for the same period stands at 8.31%. Its gross profit as reported stood at $661.8 million compared to revenue of $9.54 billion.
Earnings Surprise
For the recent quarter, Enlink Midstream LLC had $4.64 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $54.3 million in the quarter, while revenues of $58.2 million were shrunk -57.09%. Shareholders own equity worth $461.5 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Enlink Midstream LLC (ENLC) price momentum. RSI 9-day as of the close on 27 September was 51.13%, suggesting the stock is Neutral, with historical volatility in this time frame at 31.81%.
As of today, ENLC’s price is $12.44 -1.65% or -$0.21 from its 5-day moving average. ENLC is currently trading -0.64% lower than its 20-day SMA and +47.46% higher than its 100-day SMA. However, the stock’s current price level is +9.37% above the SMA50 and +5.31% above the SMA200.
The stochastic %K and %D were 42.67% and 39.24%, respectively, and the average true range (ATR) was 0.39. With the 14-day stochastic at 42.29% and the average true range at 0.37, the RSI (14) stands at 52.74%. The stock has reached 0.00 on the 9-day MACD Oscillator while the 14-day reading was at 0.00.
Analyst Ratings
UBS launched coverage on Enlink Midstream LLC (NYSE: ENLC) in its analyst report released on June 26, 2023. The firm assigned the stock a Buy rating. The consensus rating for Enlink Midstream LLC (ENLC) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ENLC, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 5 others rate it as a “buy”.
What is ENLC’s price target for the next 12 months?
Analysts predict a range of price targets between $12.00 and $17.00, with a median target of $14.00. Taking a look at these predictions, the average price target given by analysts for Enlink Midstream LLC (ENLC) stock is $13.91.
