Stocks of EnLink Midstream LLC (ENLC) are poised to climb above their peers

EnLink Midstream LLC (NYSE: ENLC) stock fell -2.16% on Friday to $9.50 against a previous-day closing price of $9.71. With 1.24 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.47 million shares. During the session, the Oil & Gas Midstream company that operates in wider Energy sector, reached to the highest price of $9.83 whereas the lowest price it dropped to was $9.31. The 52-week range on ENLC shows that it touched its highest point at $11.85 and its lowest point at $4.78 during that stretch. It currently has a 1-year price target of $11.71. With its current market cap of 4.57 billion, ENLC has annualized dividend of $0.45 while the current yield stands at 4.74%. Beta for the stock currently stands at 2.66.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ENLC was down-trending over the past week, with a drop of -2.66%, but this was up by 14.60% over a month. Three-month performance dropped to -9.18% while six-month performance rose 17.00%. The stock gained 75.28% in the past year, while it has gained 37.88% so far this year. A look at the trailing 12-month EPS for ENLC yields 0.14 with Next year EPS estimates of 0.46. For the next quarter, that number is 0.07. This implies an EPS growth rate of 105.30% for this year and 35.88% for next year.

Float and Shares Shorts:

At present, 484.00 million ENLC shares are outstanding with a float of 252.75 million shares on hand for trading. On Jul 14, 2022, short shares totaled 14.7 million, which was 3.04% higher than short shares on Jun 14, 2022. In addition to Mr. Pablo G. Mercado as the firm’s Exec. VP & CFO of EnLink Midstream GP LLC, Mr. Benjamin D. Lamb serves as its Exec. VP & COO of EnLink Midstream Mang. LLC.

Institutional Ownership:

Through their ownership of 88.35% of ENLC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 48.55% of ENLC, in contrast to 27.35% held by mutual funds. Shares owned by individuals account for 14.26%. As the largest shareholder in ENLC with 10.22% of the stake, ALPS Advisors, Inc. holds 49,375,924 shares worth 49,375,924. A second-largest stockholder of ENLC, Invesco Advisers, Inc., holds 33,214,649 shares, controlling over 6.88% of the firm’s shares. Chickasaw Capital Management LLC is the third largest shareholder in ENLC, holding 17,191,708 shares or 3.56% stake. With a 9.75% stake in ENLC, the Alerian MLP ETF is the largest stakeholder. A total of 47,108,962 shares are owned by the mutual fund manager. The Invesco SteelPath MLP Income Fund, which owns about 4.93% of ENLC stock, is the second-largest Mutual Fund holder. It holds 23,814,430 shares valued at 202.42 million. Invesco SteelPath MLP Select 40 F holds 1.94% of the stake in ENLC, owning 9,382,715 shares worth 79.75 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ENLC since 8 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ENLC analysts setting a high price target of $13.00 and a low target of $10.00, the average target price over the next 12 months is $11.56. Based on these targets, ENLC could surge 36.84% to reach the target high and rise by 5.26% to reach the target low. Reaching the average price target will result in a growth of 21.68% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ENLC will report FY 2022 earnings on 02/14/2023. Analysts have provided yearly estimates in a range of $0.41 being high and $0.17 being low. For ENLC, this leads to a yearly average estimate of $0.33. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. EnLink Midstream LLC reported $0.17 EPS against a consensus estimate of $0.17. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is $0.10 and the low estimate is $0.02. The average estimate for the next quarter is thus $0.07.

Summary of Insider Activity:

Insiders traded ENLC stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 456,674 shares were bought while 0 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 1,214,980 while 348,378 shares were sold.

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