Analyzing EnLink Midstream LLC (ENLC) After Recent Trading Activity


In a filing, EnLink Midstream LLC revealed its EVP, CL&AO, and Secretary Brooks Alaina K unloaded Company’s shares for reported $0.42 million on Aug 11. In the deal valued at $12.00 per share,35,023 shares were sold. As a result of this transaction, Brooks Alaina K now holds 465,486 shares worth roughly $ 5.92 million.

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Then, Brooks Alaina K sold 40,210 shares, generating $484,530 in total proceeds. Upon selling the shares at $12.05, the EVP, CL&AO, and Secretary now owns 500,509 shares.

Before that, Brooks Alaina K sold 131,586 shares. EnLink Midstream LLC shares valued at $1,596,138 were divested by the EVP, CL&AO, and Secretary at a price of $12.13 per share. As a result of the transaction, Brooks Alaina K now holds 540,719 shares, worth roughly $6.87 million.

UBS initiated its EnLink Midstream LLC [ENLC] rating to a Buy in a research note published on Tuesday, June 26, 2023; the price target was $14. PT values the company’s stock at a premium of 9.21 to its Tuesday closing price.

Price Performance Review of ENLC

On Tuesday, EnLink Midstream LLC [NYSE:ENLC] saw its stock remained unchanged to $12.71. On the same session, the stock had its day’s lowest price of $12.70, but rose to a high of $12.935. Over the last five days, the stock has gained 2.17%. EnLink Midstream LLC shares have risen nearly 3.33% since the year began. Nevertheless, the stocks have risen 25.84% over the past one year. While a 52-week high of $13.58 was reached on 01/17/23, a 52-week low of $8.04 was recorded on 05/04/23. SMA at 50 days reached $11.57, while 200 days put it at $11.28. A total of 3.23 million shares were traded, compared to the trading of 2.52 million shares in the previous session.

Levels Of Support And Resistance For ENLC Stock

The 24-hour chart illustrates a support level at 12.63, which if violated will result in even more drops to 12.55. On the upside, there is a resistance level at 12.86. A further resistance level may holdings at 13.02. The Relative Strength Index (RSI) on the 14-day chart is 71.45, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.35, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 17.11%. Stochastics %K at 89.96% indicates the stock is a selling.

How much short interest is there in EnLink Midstream LLC?

A steep rise in short interest was recorded in EnLink Midstream LLC stocks on Aug 14, 2023, growing by 1.82 million shares to a total of 14.25 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 12.43 million shares. There was a rise of 12.77%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.10% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.89.

EnLink Midstream LLC [ENLC] – Who Are The Largest Shareholders?

In filings from ALPS Advisors, Inc., it is revealed that the company now owns 38,188,900 shares, or roughly 8.20% of the outstanding ENLC shares. In other words, the investor’s shares have fallen by -9,704,775 from its previous 13-F filing of 47893675.0. Additionally, Invesco Advisers, Inc. increased 7.49% of its stake after which the total value it holdings stand at $321,429,574, while Tortoise Capital Advisors LLC added 6.74% of its stake to hold $189.79 million in the firm. Over the last quarter, Goldman Sachs Asset Management LP purchased 3,940,870 shares of EnLink Midstream LLC, while Chickasaw Capital Management LLC bought -238,625 shares. At present, Global X Management Co. LLC is holding 7,306,592 shares valued at $84.76 million. Dimensional Fund Advisors LP owned 6,580,111 shares of the company at the time of its most recent 13F filing, worth $76.33 million.

According to FactSet, EnLink Midstream LLC’s share price will average $13.64 in the next year, based on opinions of analysts polled by the firm. This is up nearly 2.28 percent from its previous closing price of $12.71. Analysts expect EnLink Midstream LLC stock to reach the higher price of $17.00, while the lowest price estimate is $12.00. However, 11 analysts have rated ENLC stock as an Overweight in their predictions for 2023.


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