Citigroup reiterated their buy rating on shares of Shell Midstream Partners (NYSE:SHLX) in a research report sent to investors on Monday, November 20th. They currently have a $32.00 target price on the pipeline company’s stock, down from their previous target price of $36.50.
Several other research firms have also weighed in on SHLX. Zacks Investment Research upgraded Shell Midstream Partners from a sell rating to a hold rating in a research note on Tuesday, October 24th. BidaskClub downgraded Shell Midstream Partners from a sell rating to a strong sell rating in a report on Monday, July 31st. Royal Bank Of Canada reissued a buy rating and issued a $41.00 price target on shares of Shell Midstream Partners in a research note on Wednesday, September 27th. Morgan Stanley lowered their target price on Shell Midstream Partners from $31.00 to $30.00 and set an equal weight rating for the company in a report on Friday, November 17th. Finally, Stifel Nicolaus restated a buy rating and issued a $30.00 price objective on shares of Shell Midstream Partners in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $34.50.
Shares of Shell Midstream Partners (SHLX) traded up $0.25 during trading hours on Monday, hitting $26.85. The company’s stock had a trading volume of 464,644 shares, compared to its average volume of 368,326. Shell Midstream Partners has a 12 month low of $24.68 and a 12 month high of $34.17. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 42.36. The firm has a market capitalization of $5,115.19, a PE ratio of 21.45, a P/E/G ratio of 1.65 and a beta of 1.15.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings results on Friday, November 3rd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Shell Midstream Partners had a net margin of 85.14% and a return on equity of 3,826.80%. The firm had revenue of $94.40 million for the quarter, compared to the consensus estimate of $86.36 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The company’s revenue was up 39.0% on a year-over-year basis. equities analysts forecast that Shell Midstream Partners will post 1.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 14th were issued a $0.318 dividend. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, October 30th. This represents a $1.27 annualized dividend and a yield of 4.74%. Shell Midstream Partners’s payout ratio is presently 100.00%.
A number of hedge funds have recently added to or reduced their stakes in SHLX. Cedar Wealth Management LLC raised its holdings in shares of Shell Midstream Partners by 129.4% during the third quarter. Cedar Wealth Management LLC now owns 5,230 shares of the pipeline company’s stock valued at $146,000 after purchasing an additional 2,950 shares during the period. Saratoga Research & Investment Management bought a new stake in shares of Shell Midstream Partners during the third quarter worth about $146,000. The Manufacturers Life Insurance Company increased its position in shares of Shell Midstream Partners by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after acquiring an additional 398 shares in the last quarter. Balentine LLC increased its position in shares of Shell Midstream Partners by 63.7% during the third quarter. Balentine LLC now owns 7,763 shares of the pipeline company’s stock worth $216,000 after acquiring an additional 3,021 shares in the last quarter. Finally, Institutional & Family Asset Management LLC bought a new stake in Shell Midstream Partners in the 3rd quarter worth about $237,000. Institutional investors and hedge funds own 53.20% of the company’s stock.
Shell Midstream Partners Company Profile
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.
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