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Enlink Midstream LLC (ENLC) rating reiterates by Citigroup

Enlink Midstream LLC’s recently made public 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 $7.33 million.

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 $6.39 million.

Citigroup reiterated its Enlink Midstream LLC [ENLC] rating to a Buy in a research note published on April 16, 2024; the price target was $16. A number of analysts have revised their coverage, including CapitalOne’s analysts, who began to cover the stock in late March with a ‘”an Overweight”‘ rating. Pickering Energy Partners began covering ENLC with “an Outperform” recommendation on October 03, 2023. UBS started covering the stock on June 26, 2023. It rated ENLC as “a Buy”.

Price Performance Review of ENLC

On Tuesday, Enlink Midstream LLC [NYSE:ENLC] saw its stock fall -2.70% to $13.72. Over the last five days, the stock has gained 0.81%. Enlink Midstream LLC shares have risen nearly 12.83% since the year began. Nevertheless, the stocks have risen 39.86% over the past one year. While a 52-week high of $14.18 was reached on 04/04/24, a 52-week low of $8.45 was recorded on 01/19/24. SMA at 50 days reached $13.18, while 200 days put it at $12.51. A total of 1.9 million shares were traded, compared to the trading of 1.55 million shares in the previous session.

Levels Of Support And Resistance For ENLC Stock

The 24-hour chart illustrates a support level at 13.57, which if violated will result in even more drops to 13.43. On the upside, there is a resistance level at 13.98. A further resistance level may holdings at 14.25. The Relative Strength Index (RSI) on the 14-day chart is 55.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 45.65%. Stochastics %K at 78.63% indicates the stock is a holding.

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