Stocks of Shell Midstream Partners L.P. (NYSE:SHLX) rallied by 0.06% during the past week but lost 2.16% on a 4-week basis. The company has outperformed the S&P 500 by 1.26% in the past week but underperformed the index by 3.05% in the last 4 weeks.
Shell Midstream Partners L.P. (NYSE:SHLX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.84 and $32.62 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.49. The buying momentum continued till the end and the stock did not give up its gains. It closed at $33.14, notching a gain of 1.07% for the day. The total traded volume was 3,772,382 . The stock had closed at $32.79 on the previous day.
The company shares have dropped -28.91% from its 1 Year high price. On Jul 13, 2015, the shares registered one year high at $48.39 and the one year low was seen on Sep 29, 2015. The 50-Day Moving Average price is $34.62 and the 200 Day Moving Average price is recorded at $35.28.
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Shell Midstream Partners, L.P., Montana Margaret C, had purchased 035 shares in a transaction dated on August 13, 2015. The transaction was executed at $35.71 per share with total amount equaling $1,250.
Many analysts have stated their opinion on the company shares. Morgan Stanley initiates coverage on Shell Midstream Partners L.P. (NYSE:SHLX) The current rating of the shares is Equal-weight. Equity Analysts at the Firm announces the price target to $39 per share. The rating by the firm was issued on June 16, 2016. Institutional Investors own 68.9% of Shell Midstream Partners L.P. shares.
Shell Midstream Partners, L.P. is a master limited partnership company formed to own, operate, develop and acquire pipelines and other midstream assets. The company own interests in two crude oil pipeline systems and two refined products systems. The crude oil pipeline systems, which are held by Zydeco and Mars Oil Pipeline Company (Mars), are located along the Texas and Louisiana Gulf Coast and in the Gulf of Mexico. These systems link onshore and offshore production areas with refining markets. The refined products pipeline systems, which are held by Bengal Pipeline Company LLC (Bengal) and Colonial Pipeline Company (Colonial), connect Gulf Coast and southeastern United States refineries to demand centers from Alabama to New York.