EnLink Midstream, LLC (NYSE:ENLC) Sees Large Increase in Short Interest

EnLink Midstream, LLC (NYSE:ENLC) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 9,080,000 shares, an increase of 12.0% from the September 15th total of 8,110,000 shares. Based on an average trading volume of 2,400,000 shares, the short-interest ratio is presently 3.8 days. Currently, 3.9% of the company’s shares are sold short.

Analysts Set New Price Targets

ENLC has been the subject of several analyst reports. Wells Fargo & Company cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $16.00 to $15.00 in a research report on Friday, August 30th. JPMorgan Chase & Co. increased their price target on EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Capital One Financial reaffirmed an “equal weight” rating and set a $16.00 price objective on shares of EnLink Midstream in a research note on Tuesday, September 3rd. StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, UBS Group lowered EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EnLink Midstream currently has a consensus rating of “Hold” and an average target price of $15.44.

Institutional Investors Weigh In On EnLink Midstream

Institutional investors have recently bought and sold shares of the company. ORG Partners LLC bought a new position in EnLink Midstream in the second quarter valued at $28,000. Newbridge Financial Services Group Inc. bought a new stake in EnLink Midstream during the second quarter worth about $56,000. Sunbelt Securities Inc. boosted its position in EnLink Midstream by 24.2% during the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after purchasing an additional 1,343 shares during the last quarter. SG Americas Securities LLC bought a new position in EnLink Midstream in the first quarter valued at approximately $105,000. Finally, First Horizon Advisors Inc. increased its position in shares of EnLink Midstream by 12.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 853 shares during the last quarter. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Down 0.3 %

Shares of ENLC traded down $0.04 on Thursday, hitting $14.57. The company’s stock had a trading volume of 1,005,722 shares, compared to its average volume of 2,032,672. The firm’s fifty day moving average price is $14.03 and its 200-day moving average price is $13.65. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $14.80. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 41.79 and a beta of 2.40.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the company earned $0.12 EPS. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts expect that EnLink Midstream will post 0.59 EPS for the current year.

EnLink Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Friday, November 1st. EnLink Midstream’s dividend payout ratio is 151.43%.

About EnLink Midstream

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.