Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Enlink Midstream LLC shares valued at $3,026,668 were sold by Lamb Benjamin D on Feb 28 ’24. At $12.08 per share, Lamb Benjamin D sold 250,552 shares. The insider’s holdings dropped to 534,000 shares worth approximately $7.86 million following the completion of this transaction.
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Also, Rossbach Jan Philipp sold 50,000 shares, netting a total of over 616,000 in proceeds. Following the sale of shares at $12.32 each, the insider now holds 58,410 shares.
As published in a research note from UBS on September 30, 2024, Enlink Midstream LLC [ENLC] has been rated down from a Buy to a Neutral and the price target has been revised to $16. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid September. As of September 03, 2024, CapitalOne has decreased its “an Overweight” rating to a “an Equal weight” for ENLC. Earlier on August 30, 2024, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for ENLC stock which previously was a “an Overweight”.
Analyzing ENLC Stock Performance
During the last five days, there has been a surge of approximately 2.08%. Over the course of the year, Enlink Midstream LLC shares have jumped approximately 21.05%. Shares of the company reached a 52-week high of $14.80 on 08/29/24 and a 52-week low of $11.53 on 01/19/24. A 50-day SMA is recorded $13.75, while a 200-day SMA reached $13.16. Nevertheless, trading volume fell to 1.85 million shares from 1.51 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 14.60, which, if violated, would cause prices to drop to 14.48. In the upper region, resistance lies at 14.78. The next price resistance is at 14.84. RSI (Relative Strength Index) is 62.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.09, which suggests the price will decrease in the coming days. Percent R is at 12.05%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
