On February 28, 2024, Benjamin Lamb, the Executive Vice President and Chief Financial Officer of EnLink Midstream LLC (ENLC, Financial), sold 250,552 shares of the company, according to a recent SEC Filing. This transaction has been part of a series of sales by the insider over the past year, with a total of 250,552 shares sold and no shares purchased.
EnLink Midstream LLC is a midstream energy services provider that operates across multiple segments, including natural gas gathering, processing, and transportation, as well as crude oil and condensate logistics. The company's assets are strategically located in key production areas in the United States, including North Texas, Oklahoma, the Gulf Coast, and the Permian Basin.
The insider transaction history for EnLink Midstream LLC shows a pattern of insider sales, with 4 insider sells and no insider buys over the past year.
On the valuation front, EnLink Midstream LLC's shares were trading at $12.08 on the day of the insider's recent sale, giving the company a market cap of $5.746 billion. The price-earnings ratio stands at 28.82, which is above both the industry median of 10.285 and the company's historical median price-earnings ratio.
The stock's price relative to the GuruFocus Value (GF Value) indicates that EnLink Midstream LLC is significantly overvalued. With a share price of $12.08 and a GF Value of $9.46, the price-to-GF-Value ratio is 1.28.
The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
Investors and analysts often monitor insider transactions as they can provide insights into a company's internal perspective on the stock's valuation and future prospects. The recent sales by the insider at EnLink Midstream LLC may prompt market participants to scrutinize the company's valuation metrics and future growth expectations more closely.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
