Shell Midstream Partners L.P. (SHLX): SHLX moving down?

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Shell Midstream Partners L.P. (NYSE:SHLX) changes shares on Wednesday trading session, with a change of -0.54% or -$0.06 shares. The trading starts at $11.25 and closed at $11.18 throughout the day. The trading session low price was $11.02 and day high was $11.2893 on Wednesday, August 05. After the session, the Energy sector daily volume shifted to 0.69 million while its average volume is 1.23M. In other hand, the SHLX market cap reached to $4.35B. While, its current target price is $14.70.

On July 31, 2020, Shell Midstream cuts costs as demand destruction hits U.S. pipeline flows. According to the news reported on Reuters, Shell Midstream Partners said on Friday it would cut staffing and trim projects to save $10 million this year and up to $40 million next year as volumes on some pipelines fall.

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is down -6.24% and down -5.36% for month. Its quarterly performance was -13.53% below, while its half year performance is down -46.46%. SHLX yearly performance stood at negative -46.54% and fall -44.98% for year-to-date. Current recommendation for Shell Midstream Partners L.P. is 2.90.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. SHLX EPS (TTM) for 12-month is 1.55. EPS for this year is 11.10%, while for the next year its value is 1.55. Its EPS Q/Q reached 4.50%. It has an EPS of 76.50% up for past five years and for the next five years will be down -0.66%.

Let’s take a look on the analyst recommendations on SHLX for the current month and previous month. For the current month, 3 of 11 analysts recommend stock as Buy while 2 as Sell, 0 as overweight, 1 as underweight and 5 as Hold. As compared with the previous month ratings, 0 analysts participate in stock recommendation. Out of 0, 0 rated it sell, 0 rated it as Buy and 0 as Hold Ratings. On the other hand, target price ranges from $12.00 – $22.00. Average target price for SHLX was reached at $14.36.

Tortoise Capital Advisors, LLC, Alps Advisors Inc. and Chickasaw Capital Management, LLC are the top three holders in Shell Midstream Partners L.P. (SHLX) stock. On Mar 30, 2020, Tortoise Capital Advisors, LLC has 18.26 million shares which valued 182.26 million. On Mar 30, 2020, Alps Advisors Inc. owned 16.02 million shares which valued at 159.85 million. On Jun 29, 2020, Chickasaw Capital Management, LLC has a total of 9.6 million shares which valued at 117.78 million. In the end, Chickasaw Capital Management, LLC have 2.44% shares outstanding of Shell Midstream Partners L.P. (SHLX) on Jun 29, 2020. The insider ownership moved to 68.55% and institutional holding shifted to 31.40%.

The company posted an EPS (TTM) of 1.55. According to the most recent quarter report on (Sep 2020), 10 analysts estimated an average EPS of 0.35, while 0.45 EPS posted a year ago period. Analyst Estimated EPS for SHLX published in the report was $0.15 – $0.43 during the same period. Comparing with last year, the average estimated EPS was 0.45 which is higher than 0.32 which was posted for recent quarter EPS.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for SHLX fall -29.93% for period of 200 days. SMA for 50 days was -12.96% which is showing red signal, while SMA-20 was -3.69%. The moving average value for Shell Midstream Partners L.P. (SHLX) is 13.77 and 12.09 for 200 and 50 days respectively.

Let’s take a look on the insider transactions, in which multiple shareholders are showing interest in SHLX stock. On Mar 18, Muratta Lori M, See Remarks, bought 10,000 trading shares at the cost of $7.04, which valued at 70400.0. On Mar 18, Carsten Shawn J., See Remarks, bought 4,000 shares at the cost of $6.59, with total shares of 15,500. On Mar 17, Carsten Shawn J., See Remarks, bought 4,000 shares at the cost of 8.58. After this transaction, Carsten Shawn J. total shares reached to 11,500 which valued at 34320.0.