For EnLink Midstream LLC [ENLC], Analyst sees a rise to $12.50. What next?


EnLink Midstream LLC [NYSE: ENLC] It gained 7.53% or 0.63 points to close at $9.00 with a heavy trading volume of 3,735898 shares. Company report on August 29, 2022 EnLink Midstream announces early bid results and previously announced cash bid increases.

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EnLink Midstream, LLC (NYSE: ENLC) (EnLink) today announced the results of the early tender results of previously announced cash tender offers by EnLink Midstream Partners, LP (ENLK) to purchase EnLink’s bonds. ENLK of 4.40% Principal Notes due 2024 (2024 notes), 4.15% Primary Notes due 2025 (2025 Bonds), and 4.85% Primary Notes due 2026 (2026 Bonds, along with 2024 Bonds and 2025 Bonds, Tender Bonds). In addition, EnLink announced that ENLK has (i) increased the maximum gross principal amount that can be purchased pursuant to bids from $500.0 million to $700.0 million (the maximum gross bid amount) and (ii) the maximum gross principal amount for the principal amount. 2025 notes that can be purchased in bids of $150.0 million to a total principal amount equal to the maximum total bid amount minus the amount of 2024 bonds that were properly submitted and not properly drawn down before 5:00 p.m., New York City time, at August 29, 2022 (eg date and time, early bid date). All other terms of the bids set forth in the Offer to Purchase dated August 16, 2022 (as amended and supplemented to date, Offer to Purchase) remain unchanged.

The following table shows some information regarding bids and bid bonds that were correctly submitted and not properly withdrawn on or before the early bid date, as reported by DF King & Co., Inc. Bidding agent and information agent for bid offers. The Drawing Rights for the Bid Bonds expired at 5:00 PM New York City time on August 29, 2022.

The trading session opened at $8.43 and the shares rose to $9.10 and fell to $8.42, which is the range in which the share price has traded all day. ENLC’s daily chart indicates that the company posted a -6.93% loss over the past six months. However, it is still -53.06% lower than the most recent trading low.

If we look at the average trading volume of 2.49 million shares, ENLC’s trading volume reached 3735898 on the last trading day, which is why market watchers consider the stock to be active.

Here’s what top stock market experts have to say about EnLink Midstream LLC [ENLC]:

Based on careful, fact-backed analysis by Wall Street experts, the current consensus on ENLC’s stock price target is $12.06 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus for ENLC stock is a set recommendation at 2.70. This rating represents a strong buy recommendation, on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 represents hold, and 2 indicates buy.

Stifel made an estimate for shares of EnLink Midstream LLC, keeping their opinion of the stock as Buy, with their previous recommendation back on September 27, 2022. While those analysts held the previous recommendation, Morgan Stanley raised the target price from $7 to $9. The new note was released on price target on January 7, 2022, which is the official target price for EnLink Midstream LLC stock. Previously, the target price had risen again to $7.50, while Raymond James analysts maintained Outperform’s rating on ENLC stock.

EnLink Midstream LLC’s Average True Range (ATR) is set at 0.48, with ENLC’s price-to-sales ratio for the past 12-month period at 0.54. The price-to-book ratio for the last quarter was 3.36, with the price-to-cash-to-cash ratio for the same quarter set at 0.03. ENLC’s free cash flow rate for the past 12 months was 9.83 with a Q4 quick ratio of 1.00.

ENLC stock trading performance analysis

EnLink Midstream LLC [ENLC] It fell into the red at the end of last week, fell in a negative direction and fell by -9.46. With this latest performance, ENLC shares are down -18.26% over the past four-week period, as well as down -6.93% over the past six months – not to mention up 28.57% in the last year of trading.

Overbought and oversold stocks can be easily tracked by the Relative Strength Index (RSI), where an RSI result of over 70 is overbought, and any price below 30 indicates oversold conditions. The RSI of 50 represents neutral momentum in the market. The current RSI for ENLC stock for the last two weeks was set at 40.99, with the RSI for the last one traded at 40.48, and the three-week RSI was set at 42.79 for EnLink Midstream LLC [ENLC]. The current moving average of the last 50 trading days for this stock is 9.87, while it recorded at 8.68 for the last trading week, and 9.19 for the last 200 days.

EnLink Midstream LLC [ENLC]A deeper look at fundamental analysis

Operating margin for any stock indicates how profitable the investment is, EnLink Midstream LLC [ENLC] The stock currently has an operating margin of +8.43 and a gross margin of +10.00. EnLink Midstream LLC’s net margin is currently +0.33.

The return on equity for this stock rose to 1.59, with the return on assets remaining at 0.25.

The liquidity data for EnLink Midstream LLC is also interesting, with the quick ratio at 1.00 and the current ratio at 1.10.

Internal Property Analysis at EnLink Midstream LLC [ENLC]

There are currently approximately $1.829 million, or 90.40% of ENLC’s stock, in the hands of institutional investors. The three largest corporate owners of ENLC shares are: ALPS ADVISORS INC with 47,705,457 ownership, which represents approximately -3.383% of the company’s market capitalization and approximately 0.30% of the total corporate ownership; INVESCO LTD. , which owns 2,940,512 shares with an approximate value of $264.65 million in ENLC stock; and CHICKASAW CAPITAL MANAGEMENT LLC, with $154.72 million in ENLC shares with ownership of approximately -6.255% of the company’s market value.

Positions in EnLink Midstream LLC shares held by institutional investors increased at the end of August and at the time of the August report, as 83 institutional owners consolidated their positions in EnLink Midstream LLC [NYSE:ENLC] About 16,773,945 shares. In addition, the number of 85 investors decreased by 17,961,171 shares, while 41 investors held positions with 168,507,030 shares. The said changes put institutional holdings at 203,242,146 shares, according to the latest report from the Securities and Exchange Commission. ENLC shares had 21 new institutional investments with a total of 1,828,187 shares, while 21 institutional investors sold positions of 786,870 shares during the same period.

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