Shell Midstream Partners L.P. [SHLX] Revenue clocked in at $552.00 million, up 39.32% YTD: What’s Next?


Shell Midstream Partners L.P. [NYSE: SHLX] gained 10.31% on the last trading session, reaching $16.05 price per share at the time. The company report on July 25, 2022 that Shell USA, Inc. and Shell Midstream Partners, L.P. Reached a Definitive Merger Agreement.

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Shell USA, Inc. (“Shell USA”) and Shell Midstream Partners, L.P. (NYSE: SHLX) (“SHLX”) today announced they have executed a definitive agreement and plan of merger (the “Merger Agreement,” and the transactions contemplated thereby, collectively, the “Transaction”) pursuant to which Shell USA will acquire all of the common units representing limited partner interests in SHLX held by the public (the “Public Common Units”) at $15.85 per Public Common Unit in cash for a total value of approximately $1.96 billion. A subsidiary of Shell USA currently owns 269,457,304 SHLX common units, or approximately 68.5% of SHLX common units.

SHLX’s assets include interests in entities that own crude oil and refined products pipelines and terminals that serve as key infrastructure to transport onshore and offshore crude oil production to U.S. Gulf Coast and Midwest refining markets and deliver refined products from those markets to major demand centers, as well as storage tanks and financing receivables that are secured by pipelines, storage tanks, docks, truck and rail racks and other infrastructure used to stage and transport intermediate and finished products.  Its assets also include interests in entities that own natural gas and refinery gas pipelines that transport offshore natural gas to market hubs and deliver refinery gas from refineries and plants to chemical sites along the U.S. Gulf Coast.

Shell Midstream Partners L.P. represents 393.90 million in outstanding shares, while the company has a total market value of $6.31 billion with the latest information. SHLX stock price has been found in the range of $16.02 to $16.05.

If compared to the average trading volume of 1.44M shares, SHLX reached a trading volume of 23993788 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $13.31 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 3.30. 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, 2022. The new note on the price target was released on October 19, 2021, representing the official price target for Shell Midstream Partners L.P. stock. Previously, the target price had yet another drop from $13 to $12, while Credit Suisse kept a Neutral rating on SHLX stock.

The Average True Range (ATR) for Shell Midstream Partners L.P. is set at 0.33, with the Price to Sales ratio for SHLX stock in the period of the last 12 months amounting to 11.44. The Price to Book ratio for the last quarter was 10.63, with the Price to Cash per share for the same quarter was set at 0.64. Price to Free Cash Flow for SHLX in the course of the last twelve months was 225.44 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for SHLX stock

Shell Midstream Partners L.P. [SHLX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.77. With this latest performance, SHLX shares gained by 13.99% in over the last four-week period, additionally plugging by 28.92% over the last 6 months – not to mention a rise of 20.59% 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 83.96, with the RSI for the last a single of trading hit 90.80, and the three-weeks RSI is set at 78.05 for Shell Midstream Partners L.P. [SHLX]. The present Moving Average for the last 50 days of trading for this stock 14.19, while it was recorded at 14.79 for the last single week of trading, and 13.23 for the last 200 days.

Shell Midstream Partners L.P. [SHLX]: A deeper dive into fundamental analysis

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 +42.27 and a Gross Margin at +54.86. Shell Midstream Partners L.P.’s Net Margin is presently recorded at +100.00.

Shell Midstream Partners L.P.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Shell Midstream Partners L.P. [SHLX]: An earnings per share (EPS) analysis

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 11.90%.

An analysis of insider ownership at Shell Midstream Partners L.P. [SHLX]

There are presently around $1,081 million, or 19.50% of SHLX stock, in the hands of institutional investors. The top three institutional holders of SHLX stocks are: ALPS ADVISORS INC with ownership of 18,788,413, which is approximately 16.486% of the company’s market cap and around 68.54% of the total institutional ownership; JPMORGAN CHASE & CO, holding 8,893,794 shares of the stock with an approximate value of $129.41 million in SHLX stocks shares; and GOLDMAN SACHS GROUP INC, currently with $89.03 million in SHLX stock with ownership of nearly 102.84% of the company’s market capitalization.

Positions in Shell Midstream Partners L.P. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 61 institutional holders increased their position in Shell Midstream Partners L.P. [NYSE:SHLX] by around 17,338,225 shares. Additionally, 55 investors decreased positions by around 18,890,492 shares, while 30 investors held positions by with 38,090,843 shares. The mentioned changes placed institutional holdings at 74,319,560 shares, according to the latest SEC report filing. SHLX stock had 21 new institutional investments in for a total of 988,522 shares, while 23 institutional investors sold positions of 3,996,297 shares during the same period.