Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. EnLink Midstream LLC shares valued at $426,150 were sold by Lamb Benjamin D on Aug 10. At $9.47 per share, Lamb Benjamin D sold 45,000 shares. The insider’s holdings dropped to 741,173 shares worth approximately $6.99 million following the completion of this transaction.
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Also, Lamb Benjamin D sold 148,917 shares, netting a total of over 1,393,863 in proceeds. Following the sale of shares at $9.36 each, the insider now holds 786,173 shares.
Before that, Lamb Benjamin D had sold 150,000 shares from its account. In a trade valued at $1,377,000, the EVP and COO traded EnLink Midstream LLC shares for $9.18 each. Upon closing the transaction, the insider’s holdings decreased to 150,000 shares, worth approximately $8.82 million.
As published in a research note from Morgan Stanley on January 07, 2022, EnLink Midstream LLC [ENLC] has been rated up from an Underweight to an Equal-weight and the price target has been revised to $9 from $7. This represents a -4.78% premium over Thursday’s closing price. Analysts at Raymond James upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid June. As of May 26, 2021, RBC Capital Mkts has decreased its “an Outperform” rating to a “Sector perform” for ENLC. Earlier on April 23, 2021, UBS upgraded its rating. Their new recommendation was “a Buy” for ENLC stock which previously was a “a Neutral”.
Analyzing ENLC’s Price Performance
On Thursday, EnLink Midstream LLC [NYSE: ENLC] plunged -5.13% to $9.43. The stock’s lowest price that day was $9.39, but it reached a high of $10.16 in the same session. During the last five days, there has been a drop of approximately -7.37%. Over the course of the year, EnLink Midstream LLC shares have jumped approximately 36.87%. Shares of the company reached a 52-week high of $11.85 on 06/08/22 and a 52-week low of $6.89 on 01/03/22. A 50-day SMA is recorded $9.90, while a 200-day SMA reached $9.16. Nevertheless, trading volume fell to 4.42 million shares from 3.89 million shares the previous day.
Support And Resistance Levels for EnLink Midstream LLC (ENLC)
According to the 24-hour chart, there is a support level at 9.16, which, if violated, would cause prices to drop to 8.89. In the upper region, resistance lies at 9.93. The next price resistance is at 10.43. RSI (Relative Strength Index) is 37.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.33, which suggests the price will decrease in the coming days. Percent R is at 96.90%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is EnLink Midstream LLC subject to short interest?
Stocks of EnLink Midstream LLC saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.14 million shares to 14.7 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 14.56 million shares. A jump of 0.95% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.33 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.33.
Which companies own the most shares of EnLink Midstream LLC (ENLC)?
According to ALPS Advisors, Inc. filings, the company currently owns 47,705,457 shares, which is about 9.96% of the total ENLC shares outstanding. The investor’s shares have plunged by -1,670,467 from its previous 13-F filing of 49375924.0 shares. With the completion of the sale transaction, Invesco Advisers, Inc.’s stake is now worth $298,733,119. Chickasaw Capital Management LLC reduced a -6.26% interest valued at $174.67 million while Tortoise Capital Advisors LLC sold a -983,003 stake. A total of -148,589 shares of EnLink Midstream LLC were sold by Dimensional Fund Advisors LP during the quarter, and 2,533,035 were bought by Goldman Sachs Asset Management LP. In its current portfolio, Global X Management Co. LLC holds 5,686,202 shares valued at $57.77 million.
In terms of EnLink Midstream LLC share price expectations, FactSet research, analysts set an average price target of $12.06 in the next 12 months, up nearly 20.72% from the previous closing price of $9.94. Analysts anticipate EnLink Midstream LLC stock to reach $13.00 by 2022, with the lowest price target being $11.00.