Technical and Fundamental Insights on EnLink Midstream LLC (NYSE:ENLC)

EnLink Midstream LLC (NYSE:ENLC) (Trend Analysis) shares were traded with thin volume. The stock closed last trading session at $13.64, up by 2.94%, with a volume of 286,373 shares against an average amount for the last three months of 741,729.

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EnLink Midstream LLC (NYSE:ENLC) stock is currently trading 60.16% below its 52-week-high, 112.79% above its 52-week-low. The 1-year stock price history is in the range of $6.41 – $34.24. EnLink Midstream LLC (ENLC) has a price to book ratio of 0.95 versus Basic Materials sector average of 2.75. ENLC stock price has underperformed the S&P 500 by 8.9%. The Pipelines company is currently valued at $2.45 billion, and its share price closed the last trading session at $13.64. The stock has a 50-day moving average of $12.41 and a 200-day moving average of $13.19.

EnLink Midstream LLC (ENLC) current short interest stands at 7.04 million shares. It has increased by 20% from the same period of last month. Around 7% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.49 million shares, the number of days required to cover the short positions stand at 14.3 days.

ENLC is forecasted to report earnings per share of $0.11 and a revenue of $1.03 billion for the 2nd Quarter of the fiscal year 2016. EnLink Midstream LLC (ENLC) declared last quarter earnings on May 03. The Pipelines company announced last quarter earnings per share of $0.01 against a consensus Street estimate of $0.11, missing estimate by $0.1. The company posted a revenue of $889.7 million compared to an estimation of $1.05 billion.

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There are currently sixteen analysts that cover EnLink Midstream LLC stock. Of those sixteen, four have a Buy rating, ten have a Hold rating and two have a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $12.57.

A recent analyst activity consisted of Barclays reiterating their Overweight stance on May 9. Barclays increased their price target on ENLC from $9 to $15. This corresponds to a 9.97% upside from the last closing price. On the date of report, the stock closed at $13.25.

Credit Suisse reiterated their Neutral stance on May 5, and increased their price target on ENLC stock from $12 to $16. This corresponds to a 17.3% upside from the last closing price. On the date of report, the stock closed at $13.5.

Another research firm was Morgan Stanley who initiated their coverage on the stock with Equal-weight rating on April 12. Morgan Stanley fixed their price target at $13. This translates to a 4.69% downside from the last closing price. On the date of report, the stock closed at $12.1.

Company snapshot

Enlink Midstream LLC is an independent midstream energy services company that offers supply and marketing services to oil and gas producers and consumers. The Company is involved in natural gas gathering, treating, processing, transmission, distribution, supply and marketing, and crude oil marketing. Enlink Midsteam owns pipelines and plant facilities in the United States.

Technical and Fundamental Insights on EnLink Midstream LLC (NYSE:ENLC) was last modified: May 11th, 2016 by Steven Finley