These Numbers Could Change Investor Views For Shell Midstream Partners L.P. (NYSE: SHLX)


ALPS Advisors, Inc. recently announced the acquisition of new stake in Shell Midstream Partners L.P. (NYSE:SHLX). The institutional investor has increased its shareholding in the Energy company by 8.04% to 16.02 million shares with purchase of 1.19 million shares. This fresh investment now brings its stake to 4.07% valued currently at $196.53 million. In addition, Chickasaw Capital Management LLC raised its holdings by 2.98 million to 9.6 million shares. And Neuberger Berman Investment Advis. has lifted its position by 2.95% or 0.26 million shares – to 9.22 million shares.

With over 0.8 million Shell Midstream Partners L.P. (SHLX) shares trading Friday and a closing price of $11.93 on the day, the dollar volume was approximately $9.54 million. The shares have shown a positive weekly performance of 4.74% and its price on 07/24/20 gained nearly 2.40%. Currently, there are 233.30M common shares owned by the public and among those 123.71M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for SHLX have a consensus price objective of $14.45. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $12.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Shell Midstream Partners L.P. stock is 2.90 for the next 12 months. The average price target is 18.84% above its last price level and an upside to the estimated low will see the stock gain 0.58% over that period. But an upside of 45.77% will see the stock hit the forecast high price target while mean target price for the stock is $14.00.

Insiders at the company have transacted a total of 7 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 160,045,310 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

The top 3 mutual fund holders in Shell Midstream Partners L.P. are Alerian MLP ETF, Kayne Anderson MLP/Midstream Inve, and Tortoise MLP & Pipeline Fund. Alerian MLP ETF owns 14.78 million shares of the company’s stock, all valued at over $181.34 million. Kayne Anderson MLP/Midstream Inve sold 77500.0 shares to see its total holdings shrink to 6.62 million shares valued at over $81.24 million and representing 1.68% of the shares outstanding. Tortoise MLP & Pipeline Fund bought 42401.0 shares to bring its total holdings to over 5.18 million shares at a value of $63.62 million. Tortoise MLP & Pipeline Fund now owns shares totaling to 1.32% of the shares outstanding.

Shares of Shell Midstream Partners L.P. (NYSE: SHLX) opened at $11.92, up $0.27 from a prior closing price of $11.65. However, the script later closed the day at $11.93, up 2.40%. The company’s stock has a 5-day price change of 4.74% and -12.28% over the past three months. SHLX shares are trading -40.97% year to date (YTD), with the 12-month market performance down to -44.92% lower. It has a 12-month low price of $5.70 and touched a high of $22.70 over the same period. Currently, 0.8 million shares have been traded, compared to an average intraday trading volume of 1.31 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.01%, -8.22%, and -26.32% respectively.

Institutional ownership of Shell Midstream Partners L.P. (NYSE: SHLX) shares accounts for 31.40% of the company’s 233.30M shares outstanding. Mutual fund holders own 15.61%, while other institutional holders and individual stakeholders account for 68.55% and 14.64% respectively.

It has a market capitalization of $4.80B and a beta (3y monthly) value of 1.80. The stock’s trailing 12-month PE ratio is 7.70, while the earnings-per-share (ttm) stands at $1.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.50% over the week and 4.45% over the month.

Analysts forecast that Shell Midstream Partners L.P. (SHLX) will achieve an EPS of $0.33 for the current quarter, $0.35 for the next quarter and $1.55 for 2021. The lowest estimate earnings-per-share for the quarter is $0.12 while analysts give the company a high EPS estimate of $0.41. Comparatively, EPS for the current quarter was $0.38 a year ago. Earnings per share for the fiscal year are expected to increase by 11.10%, and 12.17% over the next financial year. EPS should shrink at an annualized rate of -0.66% over the next five years, compared to 76.50% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Shell Midstream Partners L.P. (SHLX) as a “Moderate Buy” at a consensus score of 2.90. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 5 of the 11 advise that investors “hold,” and 2 rated it as a “Sell.”

Looking at the support for the SHLX, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on June 04, 2020, with the firm’s price target at $15. Credit Suisse coverage for the Shell Midstream Partners L.P. (SHLX) stock in a research note released on March 12, 2020 offered a Neutral rating with a price target of $13. Mizuho was of a view on March 02, 2020 that the stock is Neutral, while Wells Fargo gave the stock Underweight rating on January 07, 2020, issuing a price target of $20. JP Morgan on their part issued Underweight rating on August 20, 2019.


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