Shell Midstream Partners L.P. (SHLX) : Traders are bullish on Shell Midstream Partners L.P. (SHLX) as it has outperformed the S&P 500 by a wide margin of 4.35% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.95%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.12% in the last 1 week, and is up 3.79% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.85% and the 50-Day Moving Average is 3.41%.The 200 Day SMA reached 4.85%
Shell Midstream Partners L.P. (NYSE:SHLX): After opening at $31.6, the stock dipped to an intraday low of $31.27 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $32.43 and the buying power remained strong till the end. The stock closed at $32.08 for the day, a gain of 2.33% for the day session. The total traded volume was 619,452. The stocks close on the previous trading day was $32.08.
Shell Midstream Partners L.P. (SHLX) : The highest level Shell Midstream Partners L.P. (SHLX) is projected to reach is $47 for the short term and the lowest estimate is at $35. The consolidated price target from 5 rating analysts who initiate coverage on the stock is $38.6 and the possibility the share price can swing is $4.98.
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.