Enlink Midstream LLC’s filing revealed that its 10% Owner Global Infrastructure Investor unloaded Company’s shares for reported $2.99 billion on Oct 15 ’24. In the deal valued at $14.90 per share,200,340,753 shares were sold. As a result of this transaction, Global Infrastructure Investor now holds 0 shares worth roughly $0.0.
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Then, Lamb Benjamin D sold 250,552 shares, generating $3,026,668 in total proceeds. Upon selling the shares at $12.08, the EVP and CFO now owns 534,000 shares.
Before that, Rossbach Jan Philipp sold 50,000 shares. Enlink Midstream LLC shares valued at $616,000 were divested by the VP & Chief Accounting Officer at a price of $12.32 per share. As a result of the transaction, Rossbach Jan Philipp now holds 58,410 shares, worth roughly $0.86 million.
UBS downgraded its Enlink Midstream LLC [ENLC] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in mid September from “an Overweight” to “an Equal-weight”. CapitalOne also remained covering ENLC and has decreased its forecast on September 03, 2024 with a “an Equal weight” recommendation from previously “an Overweight” rating. Wells Fargo revised its rating on August 30, 2024. It rated ENLC as “an Equal weight” which previously was an “an Overweight”.
Price Performance Review of ENLC
On Monday, Enlink Midstream LLC [NYSE:ENLC] saw its stock fall -0.54% to $14.65. Over the last five days, the stock has lost -0.34%. Enlink Midstream LLC shares have risen nearly 20.48% since the year began. Nevertheless, the stocks have risen 14.63% over the past one year. While a 52-week high of $14.80 was reached on 10/21/24, a 52-week low of $11.53 was recorded on 01/19/24. SMA at 50 days reached $14.13, while 200 days put it at $13.30.
Levels Of Support And Resistance For ENLC Stock
The 24-hour chart illustrates a support level at 14.55, which if violated will result in even more drops to 14.46. On the upside, there is a resistance level at 14.79. A further resistance level may holdings at 14.94. The Relative Strength Index (RSI) on the 14-day chart is 55.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 44.19%. Stochastics %K at 66.65% indicates the stock is a holding.
How much short interest is there in Enlink Midstream LLC?
A steep rise in short interest was recorded in Enlink Midstream LLC stocks on 2024-09-30, growing by 0.75 million shares to a total of 9.08 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 8.32 million shares. There was a rise of 8.29%, which implies that there is a positive sentiment for the stock.
