Shell Midstream Partners (NYSE:SHLX) has been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $30.56.
A number of equities research analysts have recently weighed in on SHLX shares. Zacks Investment Research lowered shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Stifel Nicolaus lowered shares of Shell Midstream Partners from a “buy” rating to a “hold” rating and boosted their price objective for the company from $30.00 to $31.00 in a report on Wednesday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Shell Midstream Partners in a report on Friday, February 2nd. JPMorgan Chase reissued an “overweight” rating and set a $31.00 price objective (down from $32.00) on shares of Shell Midstream Partners in a report on Tuesday, March 13th. Finally, UBS reissued a “buy” rating and set a $38.00 price objective (down from $40.00) on shares of Shell Midstream Partners in a report on Friday, March 2nd.
NYSE SHLX traded down $0.06 on Wednesday, hitting $22.22. The stock had a trading volume of 350,540 shares, compared to its average volume of 1,107,580. 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 has a 52-week low of $19.42 and a 52-week high of $33.25. The firm has a market capitalization of $4,863.41, a P/E ratio of 17.66, a P/E/G ratio of 1.51 and a beta of 1.23.
Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings results on Tuesday, February 27th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $127.00 million for the quarter, compared to analyst estimates of $96.23 million. During the same period in the previous year, the company earned $0.34 earnings per share. sell-side analysts predict that Shell Midstream Partners will post 1.44 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in SHLX. Cambridge Investment Research Advisors Inc. acquired a new position in Shell Midstream Partners during the fourth quarter valued at $274,000. Brookfield Asset Management Inc. acquired a new position in Shell Midstream Partners during the fourth quarter valued at $1,686,000. Westwood Holdings Group Inc. lifted its position in Shell Midstream Partners by 5.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,113,257 shares of the pipeline company’s stock valued at $63,017,000 after purchasing an additional 102,745 shares during the period. Cypress Wealth Advisors LLC acquired a new position in Shell Midstream Partners during the fourth quarter valued at $3,036,000. Finally, Jane Street Group LLC acquired a new position in Shell Midstream Partners during the fourth quarter valued at $247,000. 44.93% of the stock is currently owned by hedge funds and other institutional investors.
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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