What’s Propelling Shell Midstream Partners, L.P. (SHLX) to Decrease? The Stock Formed a Multiple Bottom

February 14, 2018 - By Maria Brooks

The stock of Shell Midstream Partners, L.P. (SHLX) shows a multiple bottoms pattern with $24.22 target or 7.00 % below today’s $26.04 share price. The 7 months chart pattern indicates high risk for the $5.83 billion company. It was reported on Feb, 14 by Finviz.com. If the $24.22 price target is reached, the company will be worth $407.96 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.12% or $0.03 during the last trading session, reaching $26.04. About 715,775 shares traded. Shell Midstream Partners, L.P. (NYSE:SHLX) has declined 5.89% since February 14, 2017 and is downtrending. It has underperformed by 22.59% the S&P500.

Analysts await Shell Midstream Partners, L.P. (NYSE:SHLX) to report earnings on February, 22. They expect $0.35 earnings per share, up 2.94 % or $0.01 from last year’s $0.34 per share. SHLX’s profit will be $78.33M for 18.60 P/E if the $0.35 EPS becomes a reality. After $0.31 actual earnings per share reported by Shell Midstream Partners, L.P. for the previous quarter, Wall Street now forecasts 12.90 % EPS growth.

Shell Midstream Partners, L.P. (NYSE:SHLX) Ratings Coverage

Among 9 analysts covering Shell Midstream Partners (NYSE:SHLX), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. Shell Midstream Partners has $52 highest and $29 lowest target. $34.88’s average target is 33.95% above currents $26.04 stock price. Shell Midstream Partners had 24 analyst reports since July 2, 2015 according to SRatingsIntel. RBC Capital Markets maintained the shares of SHLX in report on Sunday, August 20 with “Buy” rating. The firm has “Buy” rating by RBC Capital Markets given on Monday, September 25. On Wednesday, November 9 the stock rating was maintained by RBC Capital Markets with “Outperform”. UBS maintained Shell Midstream Partners, L.P. (NYSE:SHLX) on Friday, November 17 with “Buy” rating. The firm has “Buy” rating given on Thursday, October 19 by RBC Capital Markets. Stifel Nicolaus maintained Shell Midstream Partners, L.P. (NYSE:SHLX) rating on Thursday, September 14. Stifel Nicolaus has “Buy” rating and $30.0 target. On Thursday, August 18 the stock rating was initiated by Stifel Nicolaus with “Buy”. As per Wednesday, January 17, the company rating was downgraded by Stifel Nicolaus. The firm has “Equal-Weight” rating given on Friday, November 17 by Barclays Capital. Stifel Nicolaus maintained Shell Midstream Partners, L.P. (NYSE:SHLX) rating on Thursday, July 13. Stifel Nicolaus has “Buy” rating and $3600 target.

More notable recent Shell Midstream Partners, L.P. (NYSE:SHLX) news were published by: Twst.com which released: “Shell Midstream Partners LP: Advance Notice of Fourth-Quarter Financial …” on February 05, 2018, also Globenewswire.com with their article: “Shell Midstream Partners, LP Announces Public Offering and Concurrent Private …” published on February 01, 2018, Seekingalpha.com published: “Shell Midstream: Shareholders Slammed With Dilution” on February 05, 2018. More interesting news about Shell Midstream Partners, L.P. (NYSE:SHLX) were released by: Seekingalpha.com and their article: “Shell Midstream Partners – Backed By A Supermajor In A Growing Industry” published on January 10, 2018 as well as Prnewswire.com‘s news article titled: “Stock Review for Oil & Gas Pipelines Investors — Plains All American Pipeline …” with publication date: February 14, 2018.

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