Enlink Midstream LLC [NYSE: ENLC] jumped around 0.1 points on Thursday, while shares priced at $11.95 at the close of the session, up 0.84%. The company report on January 16, 2024 at 5:03 PM that EnLink Midstream Expands Common Unit Repurchase Authorization, Increases Quarterly Distribution, and Updates Financial Policy.
The company also schedules webcast and call to discuss quarterly and year-end earnings and 2024 guidance.
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EnLink Midstream, LLC (NYSE: ENLC) (EnLink) announced today that the EnLink Board of Directors (Board) completed its expanded 2023 common unit repurchase authorization of $250 million, authorized a 2024 common unit repurchase plan, increased its quarterly distribution for the fourth quarter of 2023 by approximately 6%, and updated EnLink’s financial policy to reflect a long-term leverage target of 3.5x debt-to-EBITDA.
Compared to the average trading volume of 2.05M shares, ENLC reached a trading volume of 2451866 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 $14.27 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 2.09. 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.
Pickering Energy Partners have made an estimate for Enlink Midstream LLC shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 03, 2023.
The Average True Range (ATR) for Enlink Midstream LLC is set at 0.29, with the Price to Sales ratio for ENLC stock in the period of the last 12 months amounting to 0.77. The Price to Book ratio for the last quarter was 5.03, with the Price to Cash per share for the same quarter was set at 0.11. Price to Free Cash Flow for ENLC in the course of the last twelve months was 8.46 with Quick ratio for the last quarter at 0.86.
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 -0.50. With this latest performance, ENLC shares dropped by -1.40% in over the last four-week period, additionally sinking by -1.16% over the last 6 months – not to mention a drop of -5.38% 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 45.98, with the RSI for the last a single of trading hit 47.30, and the three-weeks RSI is set at 45.92 for Enlink Midstream LLC [ENLC]. The present Moving Average for the last 50 days of trading for this stock 12.37, while it was recorded at 11.81 for the last single week of trading, and 11.64 for the last 200 days.
Enlink Midstream LLC [ENLC]: Deeper insight into the fundamentals
Enlink Midstream LLC’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.86 and a Current Ratio set at 0.95.
Earnings analysis for Enlink Midstream LLC [ENLC]
With the latest financial reports released by the company, Enlink Midstream LLC posted 0.33/share EPS, while the average EPS was predicted by analysts to be reported at 0.18/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 83.30%. 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.
Insider trade positions for Enlink Midstream LLC [ENLC]
The top three institutional holders of ENLC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ENLC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ENLC stock with ownership which is approximately 5.8325%.
