EnLink Midstream LLC (NYSE:ENLC) Short Interest Update

EnLink Midstream LLC (NYSE:ENLC) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 9,630,000 shares, an increase of 28.1% from the June 30th total of 7,520,000 shares. Based on an average trading volume of 4,390,000 shares, the short-interest ratio is presently 2.2 days. Approximately 3.8% of the company’s shares are sold short.

Institutional investors and hedge funds have recently bought and sold shares of the company. Parametrica Management Ltd purchased a new position in shares of EnLink Midstream in the 1st quarter worth about $27,000. Hilton Capital Management LLC bought a new stake in shares of EnLink Midstream during the 2nd quarter valued at about $27,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of EnLink Midstream during the 2nd quarter valued at about $32,000. XTX Markets LLC bought a new stake in shares of EnLink Midstream during the 2nd quarter valued at about $34,000. Finally, Insight Folios Inc bought a new position in shares of EnLink Midstream during the 2nd quarter valued at approximately $36,000. 39.91% of the stock is owned by hedge funds and other institutional investors.

Shares of ENLC stock traded down $0.02 during mid-day trading on Friday, reaching $2.45. 1,212,196 shares of the company’s stock traded hands, compared to its average volume of 2,368,087. EnLink Midstream has a 12 month low of $0.88 and a 12 month high of $9.71. The company has a market cap of $1.20 billion, a P/E ratio of -0.97 and a beta of 3.60. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The company’s 50-day moving average price is $2.56 and its 200-day moving average price is $2.81.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Thursday, May 7th. The pipeline company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.09. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.67 billion. EnLink Midstream had a negative net margin of 22.65% and a positive return on equity of 2.59%. Equities analysts predict that EnLink Midstream will post 0.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Friday, July 31st will be given a $0.094 dividend. This represents a $0.38 annualized dividend and a dividend yield of 15.35%. The ex-dividend date of this dividend is Thursday, July 30th. EnLink Midstream’s dividend payout ratio is presently 271.43%.

Several analysts recently weighed in on the stock. ValuEngine upgraded shares of EnLink Midstream from a “sell” rating to a “hold” rating in a report on Thursday, May 21st. Mizuho cut their price target on shares of EnLink Midstream from $7.00 to $2.50 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Finally, Zacks Investment Research cut shares of EnLink Midstream from a “buy” rating to a “hold” rating in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. EnLink Midstream has a consensus rating of “Hold” and a consensus target price of $6.28.

EnLink Midstream Company Profile

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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.

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