Today’s Short Interest: Shell Midstream Partners LP (NYSE:SHLX) Stock Is Shorted More

November 16, 2016 - By Hazel Jackson   ·   0 Comments

Today's Short Interest: Shell Midstream Partners LP (NYSE:SHLX) Stock Is Shorted More

The stock of Shell Midstream Partners LP (NYSE:SHLX) registered an increase of 4.17% in short interest. SHLX’s total short interest was 611,500 shares in November as published by FINRA. Its up 4.17% from 587,000 shares, reported previously. With 372,800 shares average volume, it will take short sellers 2 days to cover their SHLX’s short positions. The short interest to Shell Midstream Partners LP’s float is 0.7%. The stock increased 0.66% or $0.17 on November 15, hitting $25.99. Shell Midstream Partners LP (NYSE:SHLX) has declined 24.45% since April 14, 2016 and is downtrending. It has underperformed by 29.13% the S&P500.

Shell Midstream Partners, L.P. is a master limited partnership firm formed to own, operate, develop and acquire pipelines and other midstream assets. The company has a market cap of $4.59 billion. The Firm has interests in approximately four crude oil pipeline systems, approximately two refined products systems and a crude tank storage and terminal system. It has a 19.72 P/E ratio. The crude oil pipeline systems, which are held by Zydeco Pipeline Company LLC ; Mars Oil Pipeline Company (Mars); Poseidon Oil Pipeline Company, LLC (Poseidon), and Pecten Midstream LLC (Pecten), are located along the Texas and Louisiana Gulf Coast and in the Gulf of Mexico.

Shell Midstream Partners LP (NYSE:SHLX) Ratings Coverage

Out of 6 analysts covering Shell Midstream Partners (NYSE:SHLX), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $52 is the highest target while $29 is the lowest. The $37.67 average target is 44.94% above today’s ($25.99) stock price. Shell Midstream Partners has been the topic of 9 analyst reports since July 2, 2015 according to StockzIntelligence Inc. Barclays Capital downgraded Shell Midstream Partners LP (NYSE:SHLX) rating on Thursday, November 10. Barclays Capital has “Equal Weight” rating and $29 price target. On Monday, May 2 the stock rating was initiated by RBC Capital Markets with “Outperform”. Evercore reinitiated the stock with “Buy” rating in Monday, November 30 report. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, November 9. As per Thursday, June 16, the company rating was initiated by Morgan Stanley. On Thursday, August 18 the stock rating was initiated by Stifel Nicolaus with “Buy”. Barclays Capital maintained the stock with “Overweight” rating in Thursday, July 2 report. The company was initiated on Friday, September 30 by Mizuho.

SHLX Company Profile

Shell Midstream Partners, L.P., incorporated on March 19, 2014, is a master limited partnership firm formed to own, operate, develop and acquire pipelines and other midstream assets. The Firm has interests in approximately four crude oil pipeline systems, approximately two refined products systems and a crude tank storage and terminal system. The crude oil pipeline systems, which are held by Zydeco Pipeline Company LLC (Zydeco); Mars Oil Pipeline Company (Mars); Poseidon Oil Pipeline Company, LLC (Poseidon), and Pecten Midstream LLC (Pecten), are located along the Texas and Louisiana Gulf Coast and in the Gulf of Mexico. The Firm has interests in Zydeco, Mars, Bengal, Colonial, Poseidon and Pecten. Zydeco spans over 350 miles and has a mainline capacity of approximately 370 thousand barrels per day (kbpd). Zydeco consists of divisions, including the Houston, Texas to Port Neches, Texas segment, which has a capacity of approximately 250 kbpd; the Port Neches, Texas to Houma, Louisiana segment, which has a capacity of 360 kbpd; the Houma, Louisiana to Clovelly, Louisiana segment, which has a capacity of 400 kbpd, and the Houma, Louisiana to St. James, Louisiana segment, which has a capacity of 260 kbpd. Zydeco also includes tankage in Port Neches, Texas and Erath and Houma, Louisiana, a dock in Houma, Louisiana and a pipeline that indirectly connects to the offshore Boxer pipeline system.

More important recent Shell Midstream Partners LP (NYSE:SHLX) news were published by: Globenewswire.com which released: “Shell Midstream Partners, L.P. Announces Acquisition of Additional Interests …” on May 17, 2016, also Fool.com published article titled: “Shell Midstream Partners Is Likely to Have a Stupendous 2016”, Seekingalpha.com published: “Shell Midstream Partners – Reliable Yield During The Downturn” on September 02, 2016. More interesting news about Shell Midstream Partners LP (NYSE:SHLX) was released by: Seekingalpha.com and their article: “Shell Midstream Partners A Meaningful Offshoot From Its Parent” with publication date: September 14, 2016.

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By Hazel Jackson


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