Enlink Midstream LLC’s filing revealed that its EVP and CFO Lamb Benjamin D unloaded Company’s shares for reported $3.03 million on Feb 28 ’24. In the deal valued at $12.08 per share,250,552 shares were sold. As a result of this transaction, Lamb Benjamin D now holds 534,000 shares worth roughly $7.12 million.
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Then, Rossbach Jan Philipp sold 50,000 shares, generating $616,000 in total proceeds. Upon selling the shares at $12.32, the VP & Chief Accounting Officer now owns 58,410 shares.
Before that, Brooks Alaina K sold 35,023 shares. Enlink Midstream LLC shares valued at $420,276 were divested by the EVP, CL&AO, and Secretary at a price of $12.00 per share. As a result of the transaction, Brooks Alaina K now holds 465,486 shares, worth roughly $6.2 million.
CapitalOne initiated its Enlink Midstream LLC [ENLC] rating to an Overweight in a research note published on March 22, 2024; the price target was $15. A number of analysts have revised their coverage, including Pickering Energy Partners’s analysts, who began to cover the stock in early October with a ‘”an Outperform”‘ rating. UBS began covering ENLC with “Buy” recommendation on June 26, 2023. Citigroup revised its rating on March 09, 2023. It rated ENLC as “a Buy” which previously was an “a Neutral”.
Price Performance Review of ENLC
On Tuesday, Enlink Midstream LLC [NYSE:ENLC] saw its stock jump 0.38% to $13.33. Over the last five days, the stock has gained 4.06%. Enlink Midstream LLC shares have risen nearly 9.62% since the year began. Nevertheless, the stocks have risen 33.03% over the past one year. While a 52-week high of $13.98 was reached on 03/25/24, a 52-week low of $8.45 was recorded on 01/19/24. SMA at 50 days reached $12.36, while 200 days put it at $12.12. A total of 1.01 million shares were traded, compared to the trading of 1.56 million shares in the previous session.
Levels Of Support And Resistance For ENLC Stock
The 24-hour chart illustrates a support level at 13.23, which if violated will result in even more drops to 13.14. On the upside, there is a resistance level at 13.41. A further resistance level may holdings at 13.50. The Relative Strength Index (RSI) on the 14-day chart is 67.53, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.31, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 10.71%. Stochastics %K at 87.61% 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 Feb 29, 2024, growing by 0.57 million shares to a total of 11.52 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 10.95 million shares. There was a rise of 4.95%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.73% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.76.
The most recent change occurred on December 09, 2022 when Citigroup began covering the stock and recommended ‘”a Neutral”‘ rating along with a $13 price target.
