Market cap of EnLink Midstream LLC [ENLC] reaches 4.98B – now what?

EnLink Midstream LLC [NYSE: ENLC] price surged by 0.58 percent to reach at $0.06. The company report on March 15, 2023 that EnLink Midstream Announces Changes to Its Board of Directors.

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EnLink Midstream, LLC (NYSE: ENLC) today announced that Matthew C. Harris, a Founding Partner of Global Infrastructure Partners (GIP), will be appointed as Chairman of its Board of Directors (Board). Harris previously served on the Board as a director from July 2018 until January 2019. Leldon E. Echols will serve as Lead Independent Director. The appointment will be effective as of March 24, 2023.

“We are pleased to welcome back Matt to the EnLink Board,” EnLink Chief Executive Officer Jesse Arenivas said. “Matt brings vast investment, capital formation, and strategy experience, including within the energy industry and energy transition. His leadership will greatly help EnLink as we continue to build momentum with our traditional midstream and growing carbon transportation businesses. As a founding partner of GIP, his return to the Board demonstrates GIP’s deep commitment to EnLink.”.

A sum of 3557058 shares traded at recent session while its average daily volume was at 2.43M shares. EnLink Midstream LLC shares reached a high of $10.52 and dropped to a low of $9.78 until finishing in the latest session at $10.46.

The one-year ENLC stock forecast points to a potential upside of 24.96. The average equity rating for ENLC stock is currently 2.50, 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 $13.94 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 2.50. 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.

Citigroup have made an estimate for EnLink Midstream LLC shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 09, 2023. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on December 09, 2022, representing the official price target for EnLink Midstream LLC stock. Previously, the target price had yet another raise to $12.50, while Stifel analysts kept a Buy rating on ENLC stock. On January 07, 2022, analysts increased their price target for ENLC shares from 7 to 9.

The Average True Range (ATR) for EnLink Midstream LLC is set at 0.47, with the Price to Sales ratio for ENLC stock in the period of the last 12 months amounting to 0.52. The Price to Book ratio for the last quarter was 3.78, 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 10.04 with Quick ratio for the last quarter at 1.00.

ENLC Stock Performance Analysis:

EnLink Midstream LLC [ENLC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.43. With this latest performance, ENLC shares dropped by -18.47% in over the last four-week period, additionally plugging by 1.45% over the last 6 months – not to mention a rise of 21.21% 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 31.48, with the RSI for the last a single of trading hit 28.42, and the three-weeks RSI is set at 34.69 for EnLink Midstream LLC [ENLC]. The present Moving Average for the last 50 days of trading for this stock 12.16, while it was recorded at 10.79 for the last single week of trading, and 10.89 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 +6.98 and a Gross Margin at +8.30. EnLink Midstream LLC’s Net Margin is presently recorded at +3.79.

Return on Equity for this stock inclined to 27.47, with Return on Assets sitting at 3.94.

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.

EnLink Midstream LLC [ENLC] Insider Position Details

There are presently around $2,200 million, or 92.50% of ENLC stock, in the hands of institutional investors. The top three institutional holders of ENLC stocks are: ALPS ADVISORS INC with ownership of 47,883,103, which is approximately 3.388% of the company’s market cap and around 0.30% of the total institutional ownership; INVESCO LTD., holding 28,229,975 shares of the stock with an approximate value of $295.29 million in ENLC stocks shares; and CHICKASAW CAPITAL MANAGEMENT LLC, currently with $152.86 million in ENLC stock with ownership of nearly -13.528% of the company’s market capitalization.

Positions in EnLink Midstream LLC stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 101 institutional holders increased their position in EnLink Midstream LLC [NYSE:ENLC] by around 17,860,742 shares. Additionally, 97 investors decreased positions by around 18,479,483 shares, while 30 investors held positions by with 173,981,324 shares. The mentioned changes placed institutional holdings at 210,321,549 shares, according to the latest SEC report filing. ENLC stock had 28 new institutional investments in for a total of 6,829,627 shares, while 23 institutional investors sold positions of 1,226,963 shares during the same period.


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