Where Could EnLink Midstream Partners Trade?
EnLink Midstream Partners’ implied volatility
EnLink Midstream Partners’ (ENLK) 30-day implied volatility was 26.1% as of September 26, 2017. At the same time, Energy Transfer Partners (ETP) and Williams Partners (WPZ) have implied volatilities of 24.6% and 18.8%, respectively. In comparison, the Alerian MLP ETF (AMLP) has an implied volatility of 17.7%. EnLink Midstream Partners’ higher implied volatility relative to AMLP could be attributed to the partnership’s slightly higher commodity exposure compared to other AMLP constituents. EnLink Midstream Partners has commodity price exposure mainly through its natural gas processing and crude oil marketing business.
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EnLink Midstream Partners’ price forecast
EnLink Midstream Partners might trade at $15.79–$16.97 in the next seven days based on its closing price of $16.38 on September 26. The stock price is expected to be within this range 68.0% of the time using a standard deviation of one. It assumes a normal distribution of prices.
In the next part, we’ll look at the recent institutional activity in EnLink Midstream Partners.