EnLink Midstream, LLC (NYSE:ENLC) Short Interest Up 6.8% in February

EnLink Midstream, LLC (NYSE:ENLC – Get Rating) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 12,390,000 shares, an increase of 6.8% from the February 13th total of 11,600,000 shares. Approximately 5.1% of the company’s shares are short sold. Based on an average daily volume of 2,350,000 shares, the days-to-cover ratio is currently 5.3 days.

Insider Buying and Selling

In other news, CFO Benjamin D. Lamb sold 180,000 shares of the business’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $11.75, for a total transaction of $2,115,000.00. Following the completion of the transaction, the chief financial officer now directly owns 707,107 shares in the company, valued at approximately $8,308,507.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Benjamin D. Lamb sold 180,000 shares of the business’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $11.75, for a total transaction of $2,115,000.00. Following the completion of the transaction, the chief financial officer now directly owns 707,107 shares in the company, valued at approximately $8,308,507.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Benjamin D. Lamb sold 210,000 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $11.38, for a total value of $2,389,800.00. Following the transaction, the chief financial officer now owns 497,107 shares of the company’s stock, valued at $5,657,077.66. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. MADDEN SECURITIES Corp acquired a new position in shares of EnLink Midstream during the 4th quarter worth approximately $28,000. Newbridge Financial Services Group Inc. acquired a new position in shares of EnLink Midstream during the 4th quarter worth approximately $38,000. CWM LLC increased its position in shares of EnLink Midstream by 45.2% during the 3rd quarter. CWM LLC now owns 3,291 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 1,025 shares during the last quarter. CNB Bank acquired a new position in shares of EnLink Midstream during the 2nd quarter worth approximately $43,000. Finally, Marshall Wace LLP acquired a new position in shares of EnLink Midstream during the 3rd quarter worth approximately $96,000. Institutional investors and hedge funds own 44.37% of the company’s stock.

Analysts Set New Price Targets

ENLC has been the topic of several recent analyst reports. Citigroup upgraded EnLink Midstream from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Thursday, March 9th. Morgan Stanley lifted their price objective on EnLink Midstream from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, January 9th. StockNews.com initiated coverage on EnLink Midstream in a report on Thursday. They set a “hold” rating on the stock. Finally, Raymond James cut their price objective on EnLink Midstream from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, EnLink Midstream has a consensus rating of “Hold” and a consensus price target of $13.50.

EnLink Midstream Trading Down 1.2 %

NYSE ENLC opened at $10.33 on Friday. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 13.96 and a beta of 2.56. The stock’s 50 day moving average price is $12.15 and its two-hundred day moving average price is $11.49. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.12 and a current ratio of 1.12. EnLink Midstream has a 52 week low of $7.77 and a 52 week high of $13.58.

EnLink Midstream (NYSE:ENLC – Get Rating) last released its earnings results on Tuesday, February 14th. The pipeline company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.19 by $0.14. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.83 billion. EnLink Midstream had a return on equity of 12.62% and a net margin of 3.79%. As a group, analysts anticipate that EnLink Midstream will post 0.72 earnings per share for the current fiscal year.

EnLink Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 13th. Shareholders of record on Monday, January 30th were given a dividend of $0.125 per share. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, January 27th. This represents a $0.50 annualized dividend and a dividend yield of 4.84%. EnLink Midstream’s payout ratio is 67.57%.

EnLink Midstream Company Profile

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EnLink Midstream LLC engages in transmission, processing and marketing of natural gas and crude oil. It operates through the following segments: Permian, Louisiana, Oklahoma, North Texas, and Corporate. The Permian segment includes natural gas gathering, processing, and transmission activities and crude oil operations in the Midland and Delaware Basins in West Texas and Eastern New Mexico and crude operations in South Texas.