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Which Midstream Stocks Led in Short Interest?

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Dec. 4 2020, Updated 10:52 a.m. ET

Midstream stocks with high short interest

As of August 29, 2016, EnLink Midstream (ENLC) had the highest short interest-to-equity float ratio among midstream stocks at 10.1%. One month ago, its ratio was 10.3%. Three months ago, it was 11.9%.

In the last three months, EnLink Midstream’s stock has risen by 10.4%. The company’s net debt-to-EBITDA (earnings before interest, tax, depreciation, and amortization) ratio is 4.7x. Its cash and cash equivalents were $20.8 million in 2Q16.

Tallgrass Energy Partners’ (TEP) short interest-to-equity float is 9.2%. One month ago, it was 9.3%. Three months ago, it was 4.7%. Its net debt-to-EBITDA ratio was 2.6x. Its cash and cash equivalents were $1.9 million at the end of 2Q16. The stock returned 4.9% in the last three months.

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Currently, Cheniere Energy Partners’ (CQP) short interest-to-equity float is 5.7%. One month ago, it was 6.1%. Three months ago, it was 7.0%. In the last three months, the stock has fallen by 8.3%—the highest among the midstream stocks in the above table. Its net debt-to-EBITDA ratio was 170.3x in 2Q16. Its cash and cash equivalents were $462.7 million.

DCP Midstream Partners’ (DPM) short interest-to-equity float is 5.9%. One month ago, it was 5.8%. Three months ago, it was 7%. Its cash and cash equivalents were $1 million at the end of 2Q16. The stock fell 0.6% in the last three months. Its net debt-to-EBITDA ratio was 6.9x.

NuStar Energy’s (NS) short interest-to-equity float is 5.7%. One month ago, it was 5.6%. Three months ago, it was 5.3%. Its net debt-to-EBITDA ratio was 5.7x. Its cash and cash equivalents were $130.0 million at the end of 2Q16. The stock has returned -1.6% in the last three months.

Boardwalk Pipeline Partners (BWP) and NGL Energy Partners (NGL) have short interest-to-equity float ratios of 3.1% and 2.7%, respectively.

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