Shell Midstream Partners, L.P. (SHLX) Upgraded to “Hold” by Zacks Investment Research

Shell Midstream Partners, L.P. (NYSE:SHLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, October 24th.

According to Zacks, “Shell Midstream Partners, L.P. engages in owning, operating, developing and acquiring pipelines and other midstream assets. Its initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers. Shell Midstream Partners, L.P. is based in Houston, Texas. “

Several other equities analysts have also recently issued reports on the stock. BidaskClub cut shares of Shell Midstream Partners, L.P. from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $36.00 target price on shares of Shell Midstream Partners, L.P. in a research note on Friday, July 14th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $41.00 target price on shares of Shell Midstream Partners, L.P. in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Shell Midstream Partners, L.P. presently has an average rating of “Hold” and a consensus target price of $35.00.

Shares of Shell Midstream Partners, L.P. (NYSE:SHLX) opened at $27.02 on Tuesday. The firm has a market cap of $5,128.34, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 1.56 and a beta of 1.12. Shell Midstream Partners, L.P. has a 12-month low of $24.68 and a 12-month high of $34.17. The company has a debt-to-equity ratio of 42.36, a quick ratio of 3.30 and a current ratio of 3.36.

Shell Midstream Partners, L.P. (NYSE:SHLX) last released its earnings results on Friday, November 3rd. The pipeline company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Shell Midstream Partners, L.P. had a return on equity of 3,826.80% and a net margin of 85.14%. The company had revenue of $94.40 million for the quarter, compared to analysts’ expectations of $86.36 million. During the same period in the prior year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up 39.0% on a year-over-year basis. equities analysts expect that Shell Midstream Partners, L.P. will post 1.25 earnings per share for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in SHLX. Saratoga Research & Investment Management purchased a new stake in shares of Shell Midstream Partners, L.P. in the third quarter valued at about $146,000. Cedar Wealth Management LLC grew its holdings in shares of Shell Midstream Partners, L.P. by 129.4% in 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. Envestnet Asset Management Inc. grew its holdings in shares of Shell Midstream Partners, L.P. by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock valued at $149,000 after purchasing an additional 63 shares during the period. The Manufacturers Life Insurance Company lifted its position in Shell Midstream Partners, L.P. by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock valued at $172,000 after buying an additional 398 shares during the last quarter. Finally, Johnson Financial Group LLC acquired a new position in Shell Midstream Partners, L.P. in the second quarter valued at about $218,000. 43.67% of the stock is owned by hedge funds and other institutional investors.

About Shell Midstream Partners, L.P.

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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