Shell Midstream Partners, L.P. (NYSE:SHLX) has a beta value of 1.76 and has seen 1,853,031 shares traded in the last trading session. The company, currently valued at $5.85 Billion, closed the last trade at $14.87 per share which meant it lost -$0.56 on the day or -3.63% during that session. The SHLX stock price is -8.81% off its 52-week high price of $16.18 and 45.06% above the 52-week low of $8.17. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.16 Million shares traded. The 3-month trading volume is 1.66 Million shares.
The consensus among analysts is that Shell Midstream Partners, L.P. (SHLX) is a Hold stock at the moment, with a recommendation rating of 2.9. 2 analysts rate the stock as a Sell, while none rate it as Overweight. 5 out of 10 have rated it as a Hold, with 2 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.34.
Shell Midstream Partners, L.P. (NYSE:SHLX) trade information
Despite being -3.63% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Friday, Apr 30 when the SHLX stock price touched $16.50- or saw a rise of 9.88%. Year-to-date, Shell Midstream Partners, L.P. shares have moved 47.52%, while the 5-day performance has seen it change -3.32%. Over the past 30 days, the shares of Shell Midstream Partners, L.P. (NYSE:SHLX) have changed 6.67%. Short interest in the company has seen 6.08 Million shares shorted with days to cover at 3.66.
Wall Street analysts have a consensus price target for the stock at $14.15, which means that the shares’ value could jump -4.84% from current levels. The projected low price target is $11 while the price target rests at a high of $22. In that case, then, we find that the current price level is +47.95% off the targeted high while a plunge would see the stock lose -26.03% from current levels.
Shell Midstream Partners, L.P. (SHLX) estimates and forecasts
Figures show that Shell Midstream Partners, L.P. shares have outperformed across the wider relevant industry. The company’s shares have gained +61.11% over the past 6 months, with this year growth rate of 12%, compared to -8.7% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 6.3% and 23.3% for the next quarter. Revenue growth from the last financial year stood is estimated to be +6.5%.
7 analysts offering their estimates for the company have set an average revenue estimate of $125.81 Million for the current quarter. 7 have an estimated revenue figure of $128.37 Million for the next quarter concluding in September 01, 2021. Year-ago sales stood $136.97 Million and $110Million respectively for this quarter and the next, and analysts expect sales will grow by -8.1% for the current quarter and 16.7% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +0.5% over the past 5 years. Earnings growth for 2021 is a modest -30.6% while over the next 5 years, the company’s earnings are expected to increase by 9.6%.
Shell Midstream Partners, L.P. is expected to release its next earnings report between July 29 and August 02 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.84 at a share yield of 11.92%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 8.02%.
Shell Midstream Partners, L.P. (NYSE:SHLX)’s Major holders
Insiders own 68.54% of the company shares, while shares held by institutions stand at 24.5% with a share float percentage of 77.89%. Investors are also buoyed by the number of investors in a company, with Shell Midstream Partners, L.P. having a total of 156 institutions that hold shares in the company. The top two institutional holders are Alps Advisors Inc. with over 15.61 Million shares worth more than $157.39 Million. As of December 30, 2020, Alps Advisors Inc. held 3.97% of shares outstanding.
The other major institutional holder is Tortoise Capital Advisors, LLC, with the holding of over 11.56 Million shares as of December 30, 2020. The firm’s total holdings are worth over $116.57 Million and represent 2.94% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Alps ETF Tr-Alerian MLP ETF and Kayne Anderson MLP/Midstream Investment Company. As of February 27, 2021, the former fund manager holds about 3.9% shares in the company for having 15319859 shares of worth $167.75 Million while later fund manager owns 3.59 Million shares of worth $36.82 Million as of November 29, 2020, which makes it owner of about 0.91% of company’s outstanding stock.