EnLink Other Current Liab vs Cash And Short Term Investments Analysis
ENLC Stock | USD 13.55 0.04 0.30% |
EnLink Midstream financial indicator trend analysis is much more than just examining EnLink Midstream LLC latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether EnLink Midstream LLC is a good investment. Please check the relationship between EnLink Midstream Other Current Liab and its Cash And Short Term Investments accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in EnLink Midstream LLC. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis.
Other Current Liab vs Cash And Short Term Investments
Other Current Liab vs Cash And Short Term Investments Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of EnLink Midstream LLC Other Current Liab account and Cash And Short Term Investments. At this time, the significance of the direction appears to have fragmental relationship.
The correlation between EnLink Midstream's Other Current Liab and Cash And Short Term Investments is 0.54. Overlapping area represents the amount of variation of Other Current Liab that can explain the historical movement of Cash And Short Term Investments in the same time period over historical financial statements of EnLink Midstream LLC, assuming nothing else is changed. The correlation between historical values of EnLink Midstream's Other Current Liab and Cash And Short Term Investments is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Other Current Liab of EnLink Midstream LLC are associated (or correlated) with its Cash And Short Term Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Cash And Short Term Investments has no effect on the direction of Other Current Liab i.e., EnLink Midstream's Other Current Liab and Cash And Short Term Investments go up and down completely randomly.
Correlation Coefficient | 0.54 |
Relationship Direction | Positive |
Relationship Strength | Weak |
Other Current Liab
Cash And Short Term Investments
Short Term Investments is an account in the current assets section of EnLink Midstream LLC balance sheet. This account contains EnLink Midstream investments that will expire within one year. These investments include stocks and bonds that can be liquidated by EnLink Midstream LLC fairly quickly. The sum of a company's cash on hand, including bank deposits and short-term, highly liquid investments that are easily convertible to known amounts of cash.Most indicators from EnLink Midstream's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into EnLink Midstream LLC current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in EnLink Midstream LLC. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. At present, EnLink Midstream's Tax Provision is projected to increase significantly based on the last few years of reporting. The current year's Sales General And Administrative To Revenue is expected to grow to 0.03, whereas Discontinued Operations is forecasted to decline to about 800 K.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 888.5M | 1.3B | 1.4B | 1.4B | Total Revenue | 6.7B | 9.5B | 6.9B | 4.1B |
EnLink Midstream fundamental ratios Correlations
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EnLink Midstream Account Relationship Matchups
High Positive Relationship
High Negative Relationship
EnLink Midstream fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 9.3B | 8.6B | 8.5B | 8.7B | 8.3B | 5.5B | |
Total Stockholder Equity | 2.1B | 1.5B | 1.3B | 2.9B | 2.6B | 2.8B | |
Property Plant And Equipment Net | 7.1B | 6.7B | 6.4B | 6.6B | 6.4B | 3.6B | |
Non Current Assets Total | 8.7B | 7.9B | 7.6B | 7.7B | 7.5B | 5.2B | |
Non Currrent Assets Other | 128.2M | 75.5M | 96.6M | (613.3M) | 112.2M | 117.8M | |
Common Stock Shares Outstanding | 188.6M | 463.9M | 489.3M | 494.3M | 485.3M | 466M | |
Liabilities And Stockholders Equity | 9.3B | 8.6B | 8.5B | 8.7B | 8.3B | 5.5B | |
Other Assets | 52.1M | 122M | 36.7M | 31.3M | 28.2M | 46.1M | |
Other Stockholder Equity | 1.7B | 1.7B | (209.2M) | 1.0B | 1.6B | 1.1B | |
Total Liab | 5.5B | 5.3B | 5.5B | 5.7B | 5.7B | 3.2B | |
Property Plant And Equipment Gross | 7.1B | 6.7B | 10.7B | 11.3B | 11.5B | 12.1B | |
Short Long Term Debt Total | 4.8B | 4.6B | 4.4B | 4.7B | 4.6B | 2.5B | |
Other Current Liab | 55.2M | 66.2M | 68.3M | 703.8M | 107M | 101.7M | |
Total Current Liabilities | 647.1M | 888M | 898.9M | 875.4M | 993.6M | 640.4M | |
Current Deferred Revenue | 499.1M | 394.2M | 672.9M | 18.5M | 634M | 665.7M | |
Net Debt | 4.7B | 4.6B | 4.4B | 4.7B | 4.6B | 2.5B | |
Accounts Payable | 71.7M | 61.5M | 139.6M | 126.9M | 126.5M | 132.8M | |
Cash | 77.4M | 39.6M | 26.2M | 22.6M | 28.7M | 29.4M | |
Cash And Short Term Investments | 77.4M | 39.6M | 26.2M | 22.6M | 28.7M | 41.8M | |
Net Receivables | 496.3M | 528.1M | 788.2M | 725.2M | 667.3M | 491.6M | |
Common Stock Total Equity | 1.9B | 1.7B | 2.1B | 1.5B | 1.7B | 870.5M | |
Non Current Liabilities Total | 4.9B | 4.4B | 4.6B | 4.9B | 4.7B | 2.7B | |
Inventory | 43.4M | 44.9M | 49.4M | 147.1M | 46.4M | 34.7M | |
Other Current Assets | 27.3M | 38.8M | 56.6M | 960.2M | 19M | 18.1M | |
Total Current Assets | 644.4M | 651.4M | 920.4M | 982.8M | 838.3M | 593.9M | |
Accumulated Other Comprehensive Income | (11M) | (15.3M) | (1.4M) | 700K | 630K | 661.5K | |
Short Term Debt | 21.1M | 366.1M | 18.1M | 26.2M | 126.1M | 132.4M | |
Intangible Assets | 1.2B | 1.1B | 1.0B | 921.2M | 793.6M | 796.0M | |
Common Stock | 2.1B | 1.5B | 1.3B | 1.3B | 1.0B | 936.4M | |
Other Liab | 24.4M | 134.6M | 166.5M | 73.2M | 65.9M | 62.6M | |
Property Plant Equipment | 7.1B | 6.7B | 6.4B | 6.6B | 7.5B | 6.5B | |
Net Tangible Assets | 695.2M | 368.1M | 253M | 385.2M | 443.0M | 465.1M | |
Noncontrolling Interest In Consolidated Entity | 1.7B | 1.7B | 1.7B | 1.6B | 1.4B | 2.2B | |
Long Term Debt | 4.8B | 4.2B | 4.4B | 4.7B | 4.5B | 4.2B | |
Long Term Debt Total | 4.8B | 4.2B | 4.4B | 4.7B | 5.4B | 4.2B | |
Deferred Long Term Liab | 6.8M | 111.1M | 139.7M | 45.4M | 40.9M | 38.8M | |
Long Term Investments | 4.3M | 4.9M | 200K | 2.9M | 150.5M | 158.0M |
Pair Trading with EnLink Midstream
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if EnLink Midstream position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in EnLink Midstream will appreciate offsetting losses from the drop in the long position's value.Moving together with EnLink Stock
0.84 | AM | Antero Midstream Partners | PairCorr |
0.87 | ET | Energy Transfer LP | PairCorr |
Moving against EnLink Stock
0.51 | CQP | Cheniere Energy Partners | PairCorr |
0.41 | PBT | Permian Basin Royalty | PairCorr |
The ability to find closely correlated positions to EnLink Midstream could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EnLink Midstream when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back EnLink Midstream - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling EnLink Midstream LLC to buy it.
The correlation of EnLink Midstream is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as EnLink Midstream moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if EnLink Midstream LLC moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for EnLink Midstream can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in EnLink Midstream LLC. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. You can also try the Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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Is EnLink Midstream's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of EnLink Midstream. If investors know EnLink will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about EnLink Midstream listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.75) | Dividend Share 0.515 | Earnings Share 0.35 | Revenue Per Share 14.871 | Quarterly Revenue Growth (0.04) |
The market value of EnLink Midstream LLC is measured differently than its book value, which is the value of EnLink that is recorded on the company's balance sheet. Investors also form their own opinion of EnLink Midstream's value that differs from its market value or its book value, called intrinsic value, which is EnLink Midstream's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because EnLink Midstream's market value can be influenced by many factors that don't directly affect EnLink Midstream's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between EnLink Midstream's value and its price as these two are different measures arrived at by different means. Investors typically determine if EnLink Midstream is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, EnLink Midstream's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.