Wall Street Analyst Upgrade EnLink Midstream LLC [ENLC]. What else is Wall St. saying

EnLink Midstream LLC [NYSE: ENLC] traded at a low on 09/12/22, posting a -0.10 loss after which it closed the day’ session at $10.38. The company report on August 29, 2022 that EnLink Midstream Announces Early Tender Results and Increase of its Previously Announced Cash Tender Offers.

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EnLink Midstream, LLC (NYSE: ENLC) (EnLink) today announced the early tender results of the previously announced cash tender offers by EnLink’s subsidiary, EnLink Midstream Partners, LP (ENLK), to purchase ENLK’s 4.40% senior notes due 2024 (the 2024 Notes), 4.15% senior notes due 2025 (the 2025 Notes), and 4.85% senior notes due 2026 (the 2026 Notes and, together with the 2024 Notes and the 2025 Notes, the Tender Notes).  In addition, EnLink announced that ENLK has (i) increased the maximum aggregate principal amount that may be purchased pursuant to the Tender Offers from $500.0 million to $700.0 million (the Aggregate Maximum Tender Amount) and (ii) the maximum aggregate principal amount of the 2025 Notes that may be purchased in the Tender Offers from $150.0 million to a total principal amount equal to the Aggregate Maximum Tender Amount less the amount of the 2024 Notes that were validly tendered and not validly withdrawn prior to 5:00 p.m., New York City time, on August 29, 2022 (such date and time, the Early Tender Date).  All other terms of the Tender Offers set forth in the Offer to Purchase dated August 16, 2022 (as amended and supplemented to date, the Offer to Purchase), remain unchanged.

The following table sets forth certain information regarding the Tender Offers and the Tender Notes that were validly tendered and not validly withdrawn at or prior to the Early Tender Date, as reported by D.F. King & Co., Inc., the Tender Agent and Information Agent for the Tender Offers.  Withdrawal rights for the Tender Notes expired at 5:00 p.m., New York City time, on August 29, 2022.

The results of the trading session contributed to over 5248887 shares changing hands. Over the past one week, the price volatility of EnLink Midstream LLC stands at 3.61% while the volatility over the past one month is 3.71%.

The market cap for ENLC stock reached $4.84 billion, with 482.00 million shares outstanding and 248.67 million shares in the current float. Compared to the average trading volume of 2.53M shares, ENLC reached a trading volume of 5248887 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $12.06 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 2.70. 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 0.42, with the Price to Sales ratio for ENLC stock in the period of the last 12 months amounting to 0.55. The Price to Book ratio for the last quarter was 3.87, with the Price to Cash per share for the same quarter was set at 0.04. Price to Free Cash Flow for ENLC in the course of the last twelve months was 9.92 with Quick ratio for the last quarter at 1.00.

How has ENLC stock performed recently?

EnLink Midstream LLC [ENLC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.24. With this latest performance, ENLC shares gained by 5.60% in over the last four-week period, additionally plugging by 9.84% over the last 6 months – not to mention a rise of 71.57% 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 53.65, with the RSI for the last a single of trading hit 52.35, and the three-weeks RSI is set at 53.96 for EnLink Midstream LLC [ENLC]. The present Moving Average for the last 50 days of trading for this stock 9.66, while it was recorded at 10.26 for the last single week of trading, and 9.03 for the last 200 days.

EnLink Midstream LLC [ENLC]: Deeper insight into the 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 1.10.

Insider trade positions for EnLink Midstream LLC [ENLC]

There are presently around $2,110 million, or 90.40% of ENLC stock, in the hands of institutional investors. The top three institutional holders of ENLC stocks are: ALPS ADVISORS INC with ownership of 47,705,457, which is approximately -3.383% of the company’s market cap and around 1.20% of the total institutional ownership; INVESCO LTD., holding 29,405,124 shares of the stock with an approximate value of $305.23 million in ENLC stocks shares; and CHICKASAW CAPITAL MANAGEMENT LLC, currently with $178.45 million in ENLC stock with ownership of nearly -6.255% of the company’s market capitalization.

Positions in EnLink Midstream LLC stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 83 institutional holders increased their position in EnLink Midstream LLC [NYSE:ENLC] by around 16,773,945 shares. Additionally, 85 investors decreased positions by around 17,961,171 shares, while 41 investors held positions by with 168,507,030 shares. The mentioned changes placed institutional holdings at 203,242,146 shares, according to the latest SEC report filing. ENLC stock had 21 new institutional investments in for a total of 1,828,187 shares, while 21 institutional investors sold positions of 786,870 shares during the same period.


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