Shares of Shell Midstream Partners LP (NYSE:SHLX) have earned a consensus rating of “Hold” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $33.43.
A number of research firms recently issued reports on SHLX. Zacks Investment Research downgraded shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Stifel Nicolaus downgraded shares of Shell Midstream Partners from a “buy” rating to a “hold” rating and boosted their target price for the company from $30.00 to $31.00 in a research report on Wednesday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Shell Midstream Partners in a research report on Friday, February 2nd. BidaskClub upgraded shares of Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 7th. Finally, Barclays decreased their price target on shares of Shell Midstream Partners from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, November 6th.
A number of hedge funds have recently made changes to their positions in the business. Stuart Chaussee & Associates Inc. bought a new stake in shares of Shell Midstream Partners in the 4th quarter worth $152,000. The Manufacturers Life Insurance Company grew its stake in shares of Shell Midstream Partners by 7.5% in the 2nd 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 grew its stake in shares of Shell Midstream Partners by 63.7% in the 3rd 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. Creative Planning bought a new stake in shares of Shell Midstream Partners in the 4th quarter worth $235,000. Finally, Institutional & Family Asset Management LLC bought a new stake in shares of Shell Midstream Partners in the 3rd quarter worth $237,000. Institutional investors and hedge funds own 45.10% of the company’s stock.
Shell Midstream Partners (SHLX) traded up $0.40 during trading on Tuesday, hitting $24.85. 204,041 shares of the company were exchanged, compared to its average volume of 1,042,474. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 42.36. Shell Midstream Partners has a 52 week low of $23.87 and a 52 week high of $33.55. The firm has a market cap of $5,425.20, a P/E ratio of 19.65, a PEG ratio of 1.18 and a beta of 1.02.
Shell Midstream Partners (NYSE:SHLX) last released its earnings results on Tuesday, February 27th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). Shell Midstream Partners had a net margin of 85.14% and a return on equity of 3,826.80%. The company had revenue of $127.00 million for the quarter, compared to analyst estimates of $96.23 million. During the same quarter in the previous year, the firm earned $0.34 EPS. analysts anticipate that Shell Midstream Partners will post 1.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th were paid a dividend of $0.333 per share. This represents a $1.33 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend was Friday, February 2nd. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.32. Shell Midstream Partners’s payout ratio is 104.72%.
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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.
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