Shell Midstream Partners (SHLX) Hits New 1-Year High and Low at $19.42

Shell Midstream Partners (NYSE:SHLX) shares hit a new 52-week high and low during mid-day trading on Friday . The stock traded as low as $19.42 and last traded at $19.89, with a volume of 551026 shares changing hands. The stock had previously closed at $20.40.

Several research analysts have recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Shell Midstream Partners from $26.00 to $25.00 and set a “hold” rating for the company in a report on Thursday. ValuEngine cut shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Morgan Stanley lowered their target price on shares of Shell Midstream Partners from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, March 29th. Citigroup reduced their price target on shares of Shell Midstream Partners from $32.00 to $28.50 and set a “buy” rating for the company in a research report on Wednesday, March 28th. Finally, Mizuho reiterated a “buy” rating and issued a $30.00 price target on shares of Shell Midstream Partners in a research report on Monday, March 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Shell Midstream Partners has an average rating of “Hold” and a consensus price target of $30.56.

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The stock has a market cap of $4,565.75, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.39 and a beta of 1.23. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of -3.30.

Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings results on Tuesday, February 27th. The pipeline company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Shell Midstream Partners had a net margin of 78.08% and a negative return on equity of 179.87%. The firm had revenue of $127.00 million during the quarter, compared to the consensus estimate of $96.23 million. During the same quarter in the prior year, the firm earned $0.34 EPS. analysts expect that Shell Midstream Partners will post 1.47 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. raised its position in Shell Midstream Partners by 109.8% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 20,435,426 shares of the pipeline company’s stock valued at $568,922,000 after purchasing an additional 10,695,678 shares during the last quarter. Chickasaw Capital Management LLC raised its position in Shell Midstream Partners by 5.6% during the 4th quarter. Chickasaw Capital Management LLC now owns 9,301,433 shares of the pipeline company’s stock worth $277,369,000 after buying an additional 489,186 shares during the last quarter. Alps Advisors Inc. raised its position in Shell Midstream Partners by 14.4% during the 4th quarter. Alps Advisors Inc. now owns 8,254,680 shares of the pipeline company’s stock worth $246,155,000 after buying an additional 1,036,262 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in Shell Midstream Partners by 12.9% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,690,840 shares of the pipeline company’s stock worth $139,866,000 after buying an additional 534,342 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in Shell Midstream Partners by 0.3% during the 4th quarter. OppenheimerFunds Inc. now owns 3,231,565 shares of the pipeline company’s stock worth $96,365,000 after buying an additional 9,529 shares during the last quarter. Hedge funds and other institutional investors own 44.87% of the company’s stock.

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About Shell Midstream Partners

Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. Its crude oil pipeline systems include a 350 miles of Zydeco pipeline system; a 130-miles of delta pipeline; a 174-mile offshore Gulf of Mexico corridor pipeline; and a 75-mile offshore pipeline.

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