Deutsche Bank assumed coverage on shares of Shell Midstream Partners (NYSE:SHLX) in a report published on Thursday. The firm issued a buy rating and a $26.00 price objective on the pipeline company’s stock.
A number of other brokerages have also weighed in on SHLX. Stifel Nicolaus cut their price objective on Shell Midstream Partners from $26.00 to $25.00 and set a hold rating for the company in a research report on Thursday, April 5th. Mizuho restated a buy rating and set a $30.00 price objective on shares of Shell Midstream Partners in a research report on Monday, March 26th. Zacks Investment Research upgraded Shell Midstream Partners from a sell rating to a hold rating in a research report on Wednesday, March 14th. JPMorgan Chase restated an overweight rating and set a $31.00 price objective (down previously from $32.00) on shares of Shell Midstream Partners in a research report on Tuesday, March 13th. Finally, Royal Bank of Canada restated an outperform rating and set a $36.00 price objective on shares of Shell Midstream Partners in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $30.06.
Shares of SHLX stock opened at $21.53 on Thursday. Shell Midstream Partners has a 52-week low of $19.42 and a 52-week high of $33.25. 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 firm has a market capitalization of $4,818.65, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.49 and a beta of 1.23.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings results on Tuesday, February 27th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. Shell Midstream Partners had a negative return on equity of 179.87% and a net margin of 78.08%. The business had revenue of $127.00 million during the quarter, compared to analyst estimates of $96.23 million. During the same quarter in the prior year, the business posted $0.34 EPS. analysts expect that Shell Midstream Partners will post 1.44 EPS for the current year.
Several large investors have recently made changes to their positions in SHLX. Stuart Chaussee & Associates Inc. bought a new position in shares of Shell Midstream Partners in the 4th quarter valued at about $152,000. The Manufacturers Life Insurance Company lifted its holdings 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 valued at $172,000 after acquiring an additional 398 shares during the last quarter. Creative Planning bought a new position in shares of Shell Midstream Partners in the 4th quarter valued at about $235,000. Jane Street Group LLC bought a new position in shares of Shell Midstream Partners in the 4th quarter valued at about $247,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Shell Midstream Partners in the 4th quarter valued at about $274,000. 44.93% of the stock is owned by hedge funds and other institutional investors.
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Shell Midstream Partners Company Profile
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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