It Seems Shell Midstream Partners, L.P. (SHLX) Will Go Up. Formed A Few Months Bullish Descending Triangle Pattern

December 8, 2017 - By Richard Conner

The stock of Shell Midstream Partners, L.P. (SHLX) formed a descending triangle with $29.00 target or 8.00 % above today’s $26.85 share price. The 5 months triangle pattern indicates low risk for the $5.04 billion company. If the $29.00 price target is reached, the company will be worth $403.36 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.94% or $0.25 during the last trading session, reaching $26.85. About 464,644 shares traded. Shell Midstream Partners, L.P. (NYSE:SHLX) has declined 5.89% since December 8, 2016 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 $0.40 EPS, up 17.65 % or $0.06 from last year’s $0.34 per share. SHLX’s profit will be $75.11 million for 16.78 P/E if the $0.40 EPS becomes a reality. After $0.31 actual EPS reported by Shell Midstream Partners, L.P. for the previous quarter, Wall Street now forecasts 29.03 % EPS growth.

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

Among 9 analysts covering Shell Midstream Partners (NYSE:SHLX), 7 have Buy rating, 0 Sell and 2 Hold. Therefore 78% are positive. Shell Midstream Partners had 22 analyst reports since July 2, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Thursday, September 14 by Stifel Nicolaus. The rating was maintained by Morgan Stanley on Friday, November 17 with “Equal-Weight”. The company was maintained on Monday, November 6 by Barclays Capital. UBS maintained Shell Midstream Partners, L.P. (NYSE:SHLX) on Friday, November 17 with “Buy” rating. The stock of Shell Midstream Partners, L.P. (NYSE:SHLX) has “Buy” rating given on Sunday, August 20 by RBC Capital Markets. The stock has “Buy” rating by Stifel Nicolaus on Thursday, August 18. On Wednesday, February 1 the stock rating was initiated by JP Morgan with “Overweight”. RBC Capital Markets initiated it with “Outperform” rating and $47 target in Monday, May 2 report. Barclays Capital maintained the stock with “Equal-Weight” rating in Friday, November 17 report. Barclays Capital downgraded the shares of SHLX in report on Thursday, November 10 to “Equal Weight” rating.

More notable recent Shell Midstream Partners, L.P. (NYSE:SHLX) news were published by: Seekingalpha.com which released: “Shell Midstream Partners’ (SHLX) CEO John Hollowell on Q3 2017 Results …” on November 03, 2017, also Globenewswire.com with their article: “Shell Midstream Partners, LP to Announce Third Quarter Results on November 3 …” published on October 13, 2017, Globenewswire.com published: “Shell Midstream Partners, LP Hurricane Harvey Operational Update” on September 07, 2017. More interesting news about Shell Midstream Partners, L.P. (NYSE:SHLX) were released by: Globenewswire.com and their article: “Shell Midstream Partners, LP Announces $275 Million in Common Unit Sales” published on September 12, 2017 as well as Seekingalpha.com‘s news article titled: “Shell Midstream Partners Overview” with publication date: September 18, 2017.

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