EnLink Midstream, LLC (NYSE:ENLC) Short Interest Down 6.4% in December

EnLink Midstream, LLC (NYSE:ENLC) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 8,500,000 shares, a decline of 6.4% from the December 15th total of 9,080,000 shares. Approximately 3.4% of the company’s stock are sold short. Based on an average trading volume of 2,430,000 shares, the short-interest ratio is currently 3.5 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ENLC shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, November 21st. UBS Group downgraded EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Monday, September 30th. StockNews.com began coverage on shares of EnLink Midstream in a report on Wednesday. They set a “hold” rating on the stock. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Mizuho reiterated a “neutral” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, EnLink Midstream has a consensus rating of “Hold” and an average target price of $15.40.

EnLink Midstream Trading Up 0.4 %

Shares of ENLC stock traded up $0.07 during trading hours on Friday, hitting $15.37. 2,791,566 shares of the company were exchanged, compared to its average volume of 1,802,574. EnLink Midstream has a 1 year low of $11.53 and a 1 year high of $16.40. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The firm has a fifty day moving average of $14.91 and a 200 day moving average of $14.38. The firm has a market cap of $7.02 billion, a PE ratio of 73.17 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm posted $0.10 EPS. EnLink Midstream’s revenue was down 7.9% on a year-over-year basis. Analysts expect that EnLink Midstream will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On EnLink Midstream

Hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in shares of EnLink Midstream by 100.8% during the third quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock valued at $1,883,000 after purchasing an additional 63,997 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of EnLink Midstream by 4.7% in the second quarter. Westwood Holdings Group Inc. now owns 2,351,996 shares of the pipeline company’s stock worth $32,363,000 after acquiring an additional 106,467 shares in the last quarter. Walleye Capital LLC grew its stake in EnLink Midstream by 1,829.6% during the 3rd quarter. Walleye Capital LLC now owns 282,246 shares of the pipeline company’s stock valued at $4,095,000 after purchasing an additional 267,619 shares in the last quarter. Wellington Management Group LLP raised its position in shares of EnLink Midstream by 268.0% in the 3rd quarter. Wellington Management Group LLP now owns 402,099 shares of the pipeline company’s stock valued at $5,834,000 after purchasing an additional 292,833 shares in the last quarter. Finally, Catalyst Capital Advisors LLC grew its position in shares of EnLink Midstream by 120.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock worth $30,348,000 after buying an additional 1,141,254 shares in the last quarter. Hedge funds and other institutional investors own 45.87% of the company’s stock.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.