Shell Midstream Partners LP (SHLX) Given Average Rating of “Hold” by Brokerages

Shares of Shell Midstream Partners LP (NYSE:SHLX) have been assigned a consensus rating of “Hold” from the nine analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $31.71.

SHLX has been the subject of a number of research reports. Stifel Nicolaus lowered Shell Midstream Partners from a “buy” rating to a “hold” rating and boosted their price target for the company from $30.00 to $31.00 in a report on Wednesday, January 17th. UBS reiterated a “buy” rating and issued a $38.00 price target (down previously from $40.00) on shares of Shell Midstream Partners in a report on Friday, March 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Shell Midstream Partners in a report on Friday, February 2nd. Zacks Investment Research downgraded shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $31.00 price objective (down previously from $32.00) on shares of Shell Midstream Partners in a research note on Tuesday, March 13th.

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Shares of SHLX stock traded down $0.08 during midday trading on Friday, hitting $21.04. The company had a trading volume of 992,809 shares, compared to its average volume of 1,410,977. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of -3.30. The stock has a market capitalization of $4,726.89, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.37 and a beta of 1.15. Shell Midstream Partners has a 12-month low of $20.86 and a 12-month high of $33.34.

Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings results on Tuesday, February 27th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $127.00 million during the quarter, compared to analyst estimates of $96.23 million. Shell Midstream Partners had a negative return on equity of 179.87% and a net margin of 78.08%. During the same quarter in the previous year, the business earned $0.34 earnings per share. equities research analysts anticipate that Shell Midstream Partners will post 1.54 earnings per share for the current year.

A number of large investors have recently modified their holdings of SHLX. The Manufacturers Life Insurance Company raised its stake in Shell Midstream Partners by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after buying an additional 398 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Shell Midstream Partners by 34.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 42,846 shares of the pipeline company’s stock worth $1,193,000 after buying an additional 10,875 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Shell Midstream Partners by 37.3% in the third quarter. BNP Paribas Arbitrage SA now owns 19,080 shares of the pipeline company’s stock worth $531,000 after buying an additional 5,180 shares in the last quarter. Sei Investments Co. raised its stake in Shell Midstream Partners by 54.3% in the third quarter. Sei Investments Co. now owns 182,812 shares of the pipeline company’s stock worth $5,089,000 after buying an additional 64,300 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Shell Midstream Partners by 102.9% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 69,000 shares of the pipeline company’s stock worth $1,921,000 after buying an additional 35,000 shares in the last quarter. 44.87% of the stock is owned by institutional investors.

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About Shell Midstream Partners

Shell Midstream Partners, L.P. is a master limited partnership company, which owns, operates, develops and acquires pipelines and other midstream assets. The Company conducts its operations through its subsidiary, Shell Midstream Operating, LLC. Its assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and to deliver refined products from those markets to demand centers.

Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

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