Morgan Stanley slashes price target on EnLink Midstream LLC [ENLC] – find out why.

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EnLink Midstream LLC [NYSE: ENLC] price surged by 6.79 percent to reach at $0.71. The company report on May 3, 2022 that EnLink Midstream Issues Fourth Annual Sustainability Report.

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Digital report includes environmental, social, and governance progress, including on emissions reduction targets.

EnLink Midstream, LLC (NYSE: ENLC) (EnLink) today issued its 2021 Sustainability Report at http://sustainability.enlink.com. The digital report showcases EnLink’s sustainability achievements during 2021, including progress on the company’s 2024 and 2030 emissions intensity reduction goals.

A sum of 3876100 shares traded at recent session while its average daily volume was at 2.94M shares. EnLink Midstream LLC shares reached a high of $11.20 and dropped to a low of $10.44 until finishing in the latest session at $11.17.

The one-year ENLC stock forecast points to a potential downside of -13.06. The average equity rating for ENLC stock is currently 3.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $9.88 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 3.00. 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.

Morgan Stanley have made an estimate for EnLink Midstream LLC shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on January 07, 2022. The new note on the price target was released on June 14, 2021, representing the official price target for EnLink Midstream LLC stock. Previously, the target price had yet another raise to $5, while RBC Capital Mkts analysts kept a Sector Perform rating on ENLC stock. On April 23, 2021, analysts increased their price target for ENLC shares from 4.50 to 6.

The Average True Range (ATR) for EnLink Midstream LLC is set at 0.49, with the Price to Sales ratio for ENLC stock in the period of the last 12 months amounting to 0.84. The Price to Book ratio for the last quarter was 4.11, with the Price to Cash per share for the same quarter was set at 0.05. Price to Free Cash Flow for ENLC in the course of the last twelve months was 11.53 with Quick ratio for the last quarter at 1.00.

ENLC Stock Performance Analysis:

EnLink Midstream LLC [ENLC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.03. With this latest performance, ENLC shares gained by 14.33% in over the last four-week period, additionally plugging by 41.39% over the last 6 months – not to mention a rise of 149.89% 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 66.51, with the RSI for the last a single of trading hit 70.41, and the three-weeks RSI is set at 64.35 for EnLink Midstream LLC [ENLC]. The present Moving Average for the last 50 days of trading for this stock 9.60, while it was recorded at 10.32 for the last single week of trading, and 7.59 for the last 200 days.

Insight into EnLink Midstream LLC Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and EnLink Midstream LLC [ENLC] shares currently have an operating margin of +8.43 and a Gross Margin at +10.00. EnLink Midstream LLC’s Net Margin is presently recorded at +0.33.

Return on Equity for this stock inclined to 1.59, with Return on Assets sitting at 0.25.

EnLink Midstream LLC’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

EnLink Midstream LLC [ENLC] Insider Position Details

There are presently around $2,046 million, or 87.90% of ENLC stock, in the hands of institutional investors. The top three institutional holders of ENLC stocks are: ALPS ADVISORS INC with ownership of 43,392,248, which is approximately 3.845% of the company’s market cap and around 1.20% of the total institutional ownership; INVESCO LTD., holding 39,070,300 shares of the stock with an approximate value of $408.68 million in ENLC stocks shares; and CHICKASAW CAPITAL MANAGEMENT LLC, currently with $191.82 million in ENLC stock with ownership of nearly -2.499% 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 91 institutional holders increased their position in EnLink Midstream LLC [NYSE:ENLC] by around 16,821,536 shares. Additionally, 88 investors decreased positions by around 12,584,183 shares, while 23 investors held positions by with 166,180,958 shares. The mentioned changes placed institutional holdings at 195,586,677 shares, according to the latest SEC report filing. ENLC stock had 30 new institutional investments in for a total of 2,373,229 shares, while 24 institutional investors sold positions of 1,377,809 shares during the same period.