Shell Midstream Partners L.P. [NYSE:SHLX] shares are showing an active tape with a current price of $9.60 on Thursday.
Shell Midstream Partners L.P. is in the Energy sector under the Oil & Gas Midstream industry. This week, we are watching the stock hit price per sales of 7.46 with an earning per share of 1.47.
For the year, the stock is trading -52.50% and the five-day change stands at 4.12%. As a point of reference, the S&P 500 is trading 0.79% YTD.
The Price is right
Holding a Market Cap of $3.67 billion, Shell Midstream Partners L.P. has seen a trading range over the last year of $5.70-$22.70.
For the last five days, SHLX is up from its last closing price. The average shares trading hands each day is 1.10M.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for SHLX. When we apply the Elder Force Index to Shell Midstream Partners L.P., we are seeing an Elder Force Indicator number of 906389.1.
The recent performance of the stock is another area that can tell traders how to proceed. SHLX is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 5.93.
In the last quarter, SHLX made a profit of 76.0 million. Shell Midstream Partners L.P. also saw quarter revenue growth year over year of -4.14%.
Looking at popular technical indicators, the company’s 5-day moving average is 9.39 compared to the 50-day moving average of 0.95%. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. SHLX currently holds a 9-day RSI of 51.38%, while 100-day RSI stands at 44.11%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. SHLX’s 9-day MACD is -0.11 and the company’s 100-day MACD stands at -2.40.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 68.55% by insiders and 30.31% by institutions. Regarding institutional holdings, Tortoise Capital Advisors, LLC owns 4.48%, while the second top holder, Alps Advisors Inc., currently owns 3.83%.
Over the last six months, insiders have bought 10,000 with the most recent transaction from Muratta Lori M, See Remarks, with a purchase at price 7.04 per share.
Overall, the recommended rating for SHLX is Moderate Buy. Currently, the company has 10 analysts watching the stock, and the average quarterly earnings estimate is 0.35. Quarterly revenue estimates are averaging 136.31M with the high estimate reaching 168M and the low at 117M.
To review, the current 1-year target estimate is sitting at 14.09, while the current price 9.60. Based on this, we expect the stock to rise considering the aforementioned fundamentals.