Last Updated: 19 Sep 2024
Executive Summary
EnLink Midstream LLC (ENLC) is a midstream energy services provider headquartered in Dallas, Texas. The company's stock price currently stands at $14.45, with a market capitalization of $6.67 billion. ENLC has a strong financial position, with an EBITDA of $1.3 billion and a profit margin of 2.14%. The company's dividend yield is 0.0367%, and its forward PE ratio is 13.62. Analysts have a positive outlook on ENLC, with 2 strong buy ratings and 6 buy ratings.
Company Overview
EnLink Midstream provides a range of midstream services, including natural gas gathering, processing, and transportation; crude oil gathering, transportation, and storage; and wholesale marketing of natural gas and crude oil. The company operates in the Permian Basin, Mid-Continent, and Gulf Coast regions of the United States.
Fundamental Analysis
ENLC's financial performance has been mixed in recent years. The company's revenue has grown steadily, but its earnings have been volatile. In 2023, ENLC reported revenue of $6.83 billion and net income of $200 million. The company's EBITDA margin was 19.1%, and its profit margin was 2.9%.
ENLC's balance sheet is strong, with total assets of $10.7 billion and total debt of $4.3 billion. The company's debt-to-equity ratio is 0.4, and its interest coverage ratio is 4.5.
Technical Analysis
ENLC's stock price has been trending sideways in recent months. The stock is currently trading above its 50-day moving average but below its 200-day moving average. The relative strength index (RSI) is 48, indicating that the stock is neither overbought nor oversold.
Short Term Outlook
In the short term, ENLC's stock price is likely to continue to trade sideways. The company's financial performance is expected to be stable, and there are no major catalysts on the horizon.
Long Term Outlook
In the long term, ENLC's stock price is likely to rise. The company's midstream assets are strategically located in key growth areas, and the demand for natural gas and crude oil is expected to continue to grow.
Analyst Recommendations
Analysts have a positive outlook on ENLC. The consensus price target is $15.4, which represents a potential upside of 6.8%. Two analysts have a strong buy rating on the stock, six have a buy rating, four have a hold rating, and none have a sell rating.
