EnLink Midstream LLC [NYSE: ENLC] loss -3.39% or -0.15 points to close at $4.28 with a heavy trading volume of 3778518 shares. The company report on March 12, 2021 that Cushing® Asset Management and Swank Capital Announce Rebalancing of The Cushing® MLP Market Cap Index.
Cushing® Asset Management, LP, and Swank Capital, LLC, announce the upcoming rebalancing of The Cushing® MLP Market Cap Index (the “Index”) as part of normal index operations. After the markets close on March 19, 2021, the 30 constituents of the Index will be rebalanced, and the following changes will be effective on March 22, 2021:.
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Constituents added:EnLink Midstream, LLC (NYSE: ENLC)Tellurian Inc. (NASDAQ: TELL).
It opened the trading session at $4.43, the shares rose to $4.44 and dropped to $4.28, the range by which the price of stock traded the whole day. The daily chart for ENLC points out that the company has recorded 56.78% gains over the past six months. However, it is still -311.54% lower than its most recent low trading price.
If we look at the average trading volume of 2.64M shares, ENLC reached to a volume of 3778518 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about EnLink Midstream LLC [ENLC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ENLC shares is $4.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ENLC stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for EnLink Midstream LLC shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 16, 2021. The new note on the price target was released on November 30, 2020, representing the official price target for EnLink Midstream LLC stock. Previously, the target price had yet another drop from $2.50 to $1, while Credit Suisse kept a Underperform rating on ENLC stock.
The Average True Range (ATR) for EnLink Midstream LLC is set at 0.19, with the Price to Sales ratio for ENLC stock in the period of the last 12 months amounting to 0.56. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 0.08. Price to Free Cash Flow for ENLC in the course of the last twelve months was 11.06.
Trading performance analysis for ENLC stock
EnLink Midstream LLC [ENLC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.70. With this latest performance, ENLC shares dropped by -11.02% in over the last four-week period, additionally plugging by 56.78% over the last 6 months – not to mention a rise of 303.77% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ENLC stock in for the last two-week period is set at 45.43, with the RSI for the last a single of trading hit 42.76, and the three-weeks RSI is set at 47.44 for EnLink Midstream LLC [ENLC]. The present Moving Average for the last 50 days of trading for this stock 4.45, while it was recorded at 4.35 for the last single week of trading, and 3.45 for the last 200 days.
EnLink Midstream LLC [ENLC]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and EnLink Midstream LLC [ENLC] shares currently have an operating margin of +10.51 and a Gross Margin at +13.15. EnLink Midstream LLC’s Net Margin is presently recorded at -10.76.
Return on Total Capital for ENLC is now 4.97, given the latest momentum, and Return on Invested Capital for the company is -6.60. Return on Equity for this stock declined to -23.30, with Return on Assets sitting at -4.52. When it comes to the capital structure of this company, EnLink Midstream LLC [ENLC] has a Total Debt to Total Equity ratio set at 313.45. Additionally, ENLC Total Debt to Total Capital is recorded at 75.81, with Total Debt to Total Assets ending up at 52.32. Long-Term Debt to Equity for the company is recorded at 288.94, with the Long-Term Debt to Total Capital now at 69.88.
Reflecting on the efficiency of the workforce at the company, EnLink Midstream LLC [ENLC] managed to generate an average of -$394,294 per employee. Receivables Turnover for the company is 7.65 with a Total Asset Turnover recorded at a value of 0.42.EnLink Midstream LLC’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.70.
EnLink Midstream LLC [ENLC]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, EnLink Midstream LLC posted -0.59/share EPS, while the average EPS was predicted by analysts to be reported at 0.05/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1,280.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ENLC.
An analysis of insider ownership at EnLink Midstream LLC [ENLC]
There are presently around $756 million, or 82.60% of ENLC stock, in the hands of institutional investors. The top three institutional holders of ENLC stocks are: INVESCO LTD. with ownership of 45,729,797, which is approximately -0.865% of the company’s market cap and around 1.00% of the total institutional ownership; ALPS ADVISORS INC, holding 33,136,669 shares of the stock with an approximate value of $141.82 million in ENLC stocks shares; and CHICKASAW CAPITAL MANAGEMENT LLC, currently with $86.09 million in ENLC stock with ownership of nearly 9.625% of the company’s market capitalization.
Positions in EnLink Midstream LLC stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 67 institutional holders increased their position in EnLink Midstream LLC [NYSE:ENLC] by around 20,819,056 shares. Additionally, 78 investors decreased positions by around 15,846,891 shares, while 26 investors held positions by with 139,958,642 shares. The mentioned changes placed institutional holdings at 176,624,589 shares, according to the latest SEC report filing. ENLC stock had 21 new institutional investments in for a total of 1,843,131 shares, while 26 institutional investors sold positions of 5,860,456 shares during the same period.