Enlink Midstream LLC (ENLC) Testing Investors’ Patience Right Now

Currently, there are 451.61M common shares owned by the public and among those 227.89M shares have been available to trade.

The company’s stock has a 5-day price change of 15.13% and 0.22% over the past three months. ENLC shares are trading 12.66% year to date (YTD), with the 12-month market performance up to 15.61% higher. It has a 12-month low price of $11.44 and touched a high of $14.38 over the same period. ENLC has an average intraday trading volume of 2.14 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.88%, 2.48%, and 5.98% respectively.

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Institutional ownership of Enlink Midstream LLC (NYSE: ENLC) shares accounts for 48.94% of the company’s 451.61M shares outstanding.

It has a market capitalization of $6.32B and a beta (3y monthly) value of 2.35. The stock’s trailing 12-month PE ratio is 42.93, while the earnings-per-share (ttm) stands at $0.32. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.76% over the week and 2.84% over the month.

Earnings per share for the fiscal year are expected to increase by 15.20%, and 50.01% over the next financial year.

Looking at the support for the ENLC, a number of firms have released research notes about the stock. Tudor Pickering Holt & Co. stated their Buy rating for the stock in a research note on August 16, 2024, with the firm’s price target at $15. Wells Fargo coverage for the Enlink Midstream LLC (ENLC) stock in a research note released on July 08, 2024 offered a Overweight rating with a price target of $17. Citigroup was of a view on April 16, 2024 that the stock is Buy, while CapitalOne gave the stock Overweight rating on March 22, 2024, issuing a price target of $15. Pickering Energy Partners on their part issued Outperform rating on October 03, 2023.

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