Shell Midstream Partners LP (NYSE:SHLX) has been assigned an average recommendation of “Buy” from the six research firms that are presently covering the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $41.00.
SHLX has been the topic of several research reports. Morgan Stanley initiated coverage on Shell Midstream Partners in a report on Thursday, June 16th. They issued an “equal weight” rating and a $39.00 target price on the stock. Stifel Nicolaus initiated coverage on Shell Midstream Partners in a report on Thursday, August 18th. They issued a “buy” rating and a $35.00 target price on the stock. Barclays PLC reduced their target price on Shell Midstream Partners from $51.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Finally, Zacks Investment Research raised Shell Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th.
Shell Midstream Partners (NYSE:SHLX) opened at 31.11 on Wednesday. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 21.66 and a beta of 1.11. Shell Midstream Partners has a 52-week low of $25.13 and a 52-week high of $42.29. The firm’s 50-day moving average price is $30.58 and its 200-day moving average price is $33.26.
Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.04. The business had revenue of $71.10 million for the quarter, compared to the consensus estimate of $78.15 million. Shell Midstream Partners had a net margin of 82.18% and a return on equity of 70.93%. Shell Midstream Partners’s revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. On average, equities analysts anticipate that Shell Midstream Partners will post $1.44 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Balentine LLC bought a new position in Shell Midstream Partners during the second quarter valued at $156,000. Quantbot Technologies LP increased its position in Shell Midstream Partners by 55.2% in the second quarter. Quantbot Technologies LP now owns 5,570 shares of the company’s stock valued at $188,000 after buying an additional 1,981 shares in the last quarter. M&T Bank Corp increased its position in Shell Midstream Partners by 16.0% in the first quarter. M&T Bank Corp now owns 6,252 shares of the company’s stock valued at $229,000 after buying an additional 861 shares in the last quarter. Linscomb & Williams Inc. increased its position in Shell Midstream Partners by 3.3% in the second quarter. Linscomb & Williams Inc. now owns 6,417 shares of the company’s stock valued at $217,000 after buying an additional 206 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Shell Midstream Partners by 344.0% in the first quarter. Envestnet Asset Management Inc. now owns 6,598 shares of the company’s stock valued at $242,000 after buying an additional 5,112 shares in the last quarter. 80.42% of the stock is currently owned by hedge funds and other institutional investors.
Shell Midstream Partners Company Profile
Shell Midstream Partners, L.P. is a master limited partnership company formed to own, operate, develop and acquire pipelines and other midstream assets. The Company has interests in approximately four crude oil pipeline systems, approximately two refined products systems and a crude tank storage and terminal system.
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