Investors focused on the Oils-Energy space have likely heard of Shell Midstream Partners, L.P. (SHLX), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of SHLX and the rest of the Oils-Energy group's stocks.
Shell Midstream Partners, L.P. is a member of our Oils-Energy group, which includes 324 different companies and currently sits at #15 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SHLX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SHLX's full-year earnings has moved 2.10% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SHLX has moved about 20.96% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 10.42% on average. This means that Shell Midstream Partners, L.P. is outperforming the sector as a whole this year.
Breaking things down more, SHLX is a member of the Oil and Gas - Production Pipeline - MLB industry, which includes 18 individual companies and currently sits at #158 in the Zacks Industry Rank. On average, stocks in this group have gained 12.77% this year, meaning that SHLX is performing better in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to SHLX as it looks to continue its solid performance.