The stock of EnLink Midstream LLC (NYSE:ENLC) hit a new 52-week high and has $19.66 target or 6.00% above today’s $18.55 share price. The 9 months bullish chart indicates low risk for the $3.60B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $19.66 price target is reached, the company will be worth $216.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 290,820 shares traded hands. EnLink Midstream LLC (NYSE:ENLC) has risen 26.21% since April 28, 2016 and is uptrending. It has outperformed by 20.28% the S&P500.
Analysts await EnLink Midstream LLC (NYSE:ENLC) to report earnings on February, 21. They expect $0.08 earnings per share, down 95.58% or $1.73 from last year’s $1.81 per share. ENLC’s profit will be $15.53 million for 57.97 P/E if the $0.08 EPS becomes a reality.
EnLink Midstream LLC (NYSE:ENLC) Ratings Coverage
Out of 15 analysts covering EnLink Midstream LLC (NYSE:ENLC), 3 rate it a “Buy”, 3 “Sell”, while 9 “Hold”. This means 20% are positive. EnLink Midstream LLC has been the topic of 41 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of EnLink Midstream LLC (NYSE:ENLC) earned “Hold” rating by Jefferies on Wednesday, June 8. Piper Jaffray reinitiated EnLink Midstream LLC (NYSE:ENLC) on Friday, April 1 with “Neutral” rating. On Monday, January 18 the stock rating was downgraded by Wells Fargo to “Market Perform”. Barclays Capital initiated EnLink Midstream LLC (NYSE:ENLC) rating on Thursday, September 24. Barclays Capital has “Overweight” rating and $28 price target. The rating was initiated by Simmons & Co on Thursday, August 27 with “Overweight”. Robert W. Baird downgraded the shares of ENLC in a report on Monday, February 8 to “Underperform” rating. The rating was downgraded by Wells Fargo to “Market Perform” on Friday, January 15. As per Tuesday, May 31, the company rating was maintained by JP Morgan. RBC Capital Markets maintained the shares of ENLC in a report on Friday, September 2 with “Sector Perform” rating. The stock of EnLink Midstream LLC (NYSE:ENLC) has “Neutral” rating given on Thursday, March 17 by Credit Suisse.
According to Zacks Investment Research, “Enlink Midstream LLC is independent midstream energy. The Company is involved in natural gas gathering, treating, processing, transmission, distribution, supply and marketing, and crude oil marketing. Enlink Midstream LLC, formerly known as Crosstex Energy Inc., is based in headquartered in Dallas, Texas.”
More news for EnLink Midstream LLC (NYSE:ENLC) were recently published by: Fool.com, which released: “Here’s Why EnLink Midstream LLC Is Slumping Today” on February 17, 2016. Fool.com‘s article titled: “4 Key Factors That Will Determine Whether EnLink Midstream’s Dividend Survives …” and published on December 20, 2015 is yet another important article.
ENLC Company Profile
EnLink Midstream, LLC, incorporated on October 16, 2013, is a midstream energy services company. The Company’s assets include its equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink TOM Holdings, LP (TOM Holdings). The Partnership’s assets consist of gathering systems, transmission pipelines, processing facilities, fractionation facilities, stabilization facilities, storage facilities and ancillary assets. TOM Holdings and its subsidiaries are controlled by the Partnership and have similar activities to the Partnership. The Partnership has five reportable divisions: Texas, which includes the Partnership’s natural gas gathering, processing and transmission activities in north Texas and the Permian Basin in west Texas; Oklahoma, which includes the Partnership’s natural gas gathering, processing and transmission activities in Cana-Woodford and Arkoma-Woodford Shale areas; Louisiana, which includes the Partnership’s natural gas pipelines, natural gas processing plants and NGL assets located in Louisiana; Crude and Condensate, which includes the Partnership’s Ohio River Valley crude oil, condensate and brine disposal activities in the Utica and Marcellus Shales, its equity interests in E2 Energy Services, LLC, E2 Appalachian Compression, LLC and E2 Ohio Compression, LLC, its crude oil activities in the Permian Basin and its crude oil activities associated with the Victoria Express Pipeline and related truck terminal and storage assets (VEX) located in the Eagle Ford Shale, and Corporate, which includes the Partnership’s unconsolidated affiliate investments in Howard Energy Partners (HEP), in the Eagle Ford Shale, its contractual right to the economic burdens and benefits associated with Devon Energy Corporation’s ownership interest in Gulf Coast Fractionators (GCF).