The stock of Shell Midstream Partners LP (NYSE:SHLX) hit a new 52-week low and has $24.79 target or 7.00% below today’s $26.66 share price. The 9 months bearish chart indicates high risk for the $4.78 billion company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $24.79 price target is reached, the company will be worth $334.60 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 413,265 shares traded hands. Shell Midstream Partners LP (NYSE:SHLX) has declined 23.99% since April 1, 2016 and is downtrending. It has underperformed by 25.20% the S&P500.
Analysts await Shell Midstream Partners LP (NYSE:SHLX) to report earnings on November, 9. They expect $0.38 EPS, up 2.70% or $0.01 from last year’s $0.37 per share. SHLX’s profit will be $68.13M for 17.54 P/E if the $0.38 EPS becomes a reality. After $0.35 actual EPS reported by Shell Midstream Partners LP for the previous quarter, Wall Street now forecasts 8.57% EPS growth.
Shell Midstream Partners LP (NYSE:SHLX) Ratings Coverage
Out of 6 analysts covering Shell Midstream Partners (NYSE:SHLX), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. Shell Midstream Partners has been the topic of 7 analyst reports since July 2, 2015 according to StockzIntelligence Inc. As per Friday, September 30, the company rating was initiated by Mizuho. The firm has “Buy” rating by Evercore given on Monday, November 30. The stock of Shell Midstream Partners LP (NYSE:SHLX) has “Overweight” rating given on Thursday, July 2 by Barclays Capital. Morgan Stanley initiated the stock with “Equal-Weight” rating in Thursday, June 16 report. RBC Capital Markets initiated it with “Outperform” rating and $47 target price in Monday, May 2 report. Stifel Nicolaus initiated Shell Midstream Partners LP (NYSE:SHLX) on Thursday, August 18 with “Buy” rating.
According to Zacks Investment Research, “Shell Midstream Partners, L.P. engages in owning, operating, developing and acquiring pipelines and other midstream assets. Its initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers. Shell Midstream Partners, L.P. is based in Houston, Texas.”
More notable recent Shell Midstream Partners LP (NYSE:SHLX) news were published by: Globenewswire.com which released: “Shell Midstream Partners, L.P. Announces Acquisition of Additional Interests …” on May 17, 2016, also Marketwatch.com with their article: “Shell Midstream Partners started at outperform with $47 stock price target at …” published on October 29, 2014, Fool.com published: “Shell Midstream Partners Is Likely to Have a Stupendous 2016” on November 29, 2015. More interesting news about Shell Midstream Partners LP (NYSE:SHLX) were released by: Globenewswire.com and their article: “Advance Notice of Third-Quarter Financial Results for Shell Midstream Partners …” published on October 06, 2016 as well as Seekingalpha.com‘s news article titled: “Shell Midstream Partners – Reliable Yield During The Downturn” with publication date: September 02, 2016.
SHLX Company Profile
Shell Midstream Partners, L.P., incorporated on March 19, 2014, is a master limited partnership firm formed to own, operate, develop and acquire pipelines and other midstream assets. The Firm has interests in approximately four crude oil pipeline systems, approximately two refined products systems and a crude tank storage and terminal system. The crude oil pipeline systems, which are held by Zydeco Pipeline Company LLC (Zydeco); Mars Oil Pipeline Company (Mars); Poseidon Oil Pipeline Company, LLC (Poseidon), and Pecten Midstream LLC (Pecten), are located along the Texas and Louisiana Gulf Coast and in the Gulf of Mexico. The Firm has interests in Zydeco, Mars, Bengal, Colonial, Poseidon and Pecten. Zydeco spans over 350 miles and has a mainline capacity of approximately 370 thousand barrels per day (kbpd). Zydeco consists of divisions, including the Houston, Texas to Port Neches, Texas segment, which has a capacity of approximately 250 kbpd; the Port Neches, Texas to Houma, Louisiana segment, which has a capacity of 360 kbpd; the Houma, Louisiana to Clovelly, Louisiana segment, which has a capacity of 400 kbpd, and the Houma, Louisiana to St. James, Louisiana segment, which has a capacity of 260 kbpd. Zydeco also includes tankage in Port Neches, Texas and Erath and Houma, Louisiana, a dock in Houma, Louisiana and a pipeline that indirectly connects to the offshore Boxer pipeline system.
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