Shell Midstream Partners L.P. representing Limited Partner Interests (NYSE:SHLX) traded today at a new 52-week high of $16.23. This new high was reached on below average trading volume as 623,000 shares traded hands, while the average 30-day volume is approximately 1.4 million shares.
Shell Midstream Partners LP is a US-based limited partnership which is formed to own, operate, develop and acquire pipelines and other midstream assets. The company holds an interest in several entities which own crude oil, refined products and natural gas pipelines, and a crude tank storage and terminal system. It provides transportation and storage facility to deliver refined products from Gulf Coast markets to demand centers. The company earns revenue through the long-term transportation agreements by charging fees for the transportation of crude oil and refined products through its pipelines.
Based on a current price of $15.96, Shell Midstream Partners L.P. representing Limited Partner Interests is currently 3.7% above its average consensus analyst price target of $15.37.
Over the past year, Shell Midstream Partners L.P. representing Limited Partner Interests has traded in a range of $8.17 to $16.23 and is now at $15.96, 95% above that low.
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