Shell Midstream Partners L.P. [NYSE: SHLX] slipped around -0.25 points on Thursday, while shares priced at $14.19 at the close of the session, down -1.73%. The company report on April 30, 2021 that SHELL MIDSTREAM PARTNERS, L.P. 1st QUARTER 2021 UNAUDITED RESULTS.
Shell Midstream Partners, L.P. (NYSE: SHLX) (the “Partnership” or “Shell Midstream Partners”) reported net income attributable to the Partnership of $163 million for the first quarter of 2021, which equated to $0.37 per diluted common limited partner unit. Shell Midstream Partners also generated adjusted earnings before interest, income taxes, depreciation and amortization attributable to the Partnership of $201 million.
Total cash available for distribution was $173 million, approximately $8 million higher than the prior quarter. This increase was largely driven by offshore volumes returning to more normal levels following hurricane impacts and planned producer turnarounds. The increase was partially offset by continued lower refined products demand related to the ongoing COVID-19 pandemic.
Shell Midstream Partners L.P. stock is now 40.77% up from its year-to-date (YTD) trading value. SHLX Stock saw the intraday high of $14.53 and lowest of $14.10 per share. The company’s 52-week high price is 16.50, which means current price is +42.18% above from all time high which was touched on 04/30/21.
Compared to the average trading volume of 1.50M shares, SHLX reached a trading volume of 2233248 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Shell Midstream Partners L.P. [SHLX]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SHLX shares is $14.95 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SHLX stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Shell Midstream Partners L.P. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on January 20, 2021. The new note on the price target was released on October 15, 2020, representing the official price target for Shell Midstream Partners L.P. stock. Previously, the target price had yet another raise to $15, while Barclays analysts kept a Equal Weight rating on SHLX stock. On March 12, 2020, analysts decreased their price target for SHLX shares from 17 to 13.
The Average True Range (ATR) for Shell Midstream Partners L.P. is set at 0.40, with the Price to Sales ratio for SHLX stock in the period of the last 12 months amounting to 10.93. The Price to Book ratio for the last quarter was 9.79, with the Price to Cash per share for the same quarter was set at 0.82.
How has SHLX stock performed recently?
Shell Midstream Partners L.P. [SHLX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.80. With this latest performance, SHLX shares dropped by -10.75% in over the last four-week period, additionally plugging by 25.69% over the last 6 months – not to mention a rise of 22.64% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SHLX stock in for the last two-week period is set at 38.18, with the RSI for the last a single of trading hit 33.44, and the three-weeks RSI is set at 41.94 for Shell Midstream Partners L.P. [SHLX]. The present Moving Average for the last 50 days of trading for this stock 15.08, while it was recorded at 14.59 for the last single week of trading, and 12.28 for the last 200 days.
Shell Midstream Partners L.P. [SHLX]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Shell Midstream Partners L.P. [SHLX] shares currently have an operating margin of +35.14 and a Gross Margin at +50.94. Shell Midstream Partners L.P.’s Net Margin is presently recorded at +101.46.
Return on Total Capital for SHLX is now 7.98, given the latest momentum, and Return on Invested Capital for the company is 11.91. Return on Equity for this stock inclined to 35.39, with Return on Assets sitting at 22.35. Additionally, SHLX Total Debt to Total Capital is recorded at 121.47, with Total Debt to Total Assets ending up at 115.94. Long-Term Debt to Equity for the company is recorded at 470.59, with the Long-Term Debt to Total Capital now at 121.43.
Receivables Turnover for the company is 9.34 with a Total Asset Turnover recorded at a value of 0.22.Shell Midstream Partners L.P.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.90 and a Current Ratio set at 5.90.
Earnings analysis for Shell Midstream Partners L.P. [SHLX]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SHLX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Shell Midstream Partners L.P. go to 10.70%.
Insider trade positions for Shell Midstream Partners L.P. [SHLX]
There are presently around $1,171 million, or 21.70% of SHLX stock, in the hands of institutional investors. The top three institutional holders of SHLX stocks are: ALPS ADVISORS INC with ownership of 16,555,363, which is approximately 6.03% of the company’s market cap and around 68.54% of the total institutional ownership; TORTOISE CAPITAL ADVISORS, L.L.C., holding 8,839,512 shares of the stock with an approximate value of $125.43 million in SHLX stocks shares; and NEUBERGER BERMAN GROUP LLC, currently with $107.42 million in SHLX stock with ownership of nearly -3.291% of the company’s market capitalization.
Positions in Shell Midstream Partners L.P. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 55 institutional holders increased their position in Shell Midstream Partners L.P. [NYSE:SHLX] by around 4,368,922 shares. Additionally, 70 investors decreased positions by around 14,603,698 shares, while 20 investors held positions by with 63,570,897 shares. The mentioned changes placed institutional holdings at 82,543,517 shares, according to the latest SEC report filing. SHLX stock had 21 new institutional investments in for a total of 656,218 shares, while 16 institutional investors sold positions of 1,479,009 shares during the same period.