Shell Midstream Partners (NYSE:SHLX) had its price objective dropped by equities researchers at Morgan Stanley from $31.00 to $30.00 in a research report issued to clients and investors on Friday, November 17th. The firm presently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 11.90% from the stock’s previous close.
Several other equities research analysts also recently commented on SHLX. Zacks Investment Research upgraded shares of Shell Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. BidaskClub downgraded shares of Shell Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Royal Bank Of Canada reissued a “buy” rating and set a $41.00 target price on shares of Shell Midstream Partners in a report on Wednesday, September 27th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $30.00 target price on shares of Shell Midstream Partners in a report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $34.50.
Shares of Shell Midstream Partners (NYSE SHLX) traded down $0.93 on Friday, reaching $26.81. 516,040 shares of the company’s stock traded hands, compared to its average volume of 367,424. Shell Midstream Partners has a 52 week low of $24.68 and a 52 week high of $34.17. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 42.36. The firm has a market capitalization of $5,209.08, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15.
Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.05). Shell Midstream Partners 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 analyst estimates of $86.36 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was up 39.0% on a year-over-year basis. research analysts anticipate that Shell Midstream Partners will post 1.27 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cedar Wealth Management LLC increased its holdings in Shell Midstream Partners 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 buying an additional 2,950 shares in the last quarter. Saratoga Research & Investment Management purchased a new position in Shell Midstream Partners in the third quarter valued at $146,000. The Manufacturers Life Insurance Company increased its holdings in Shell Midstream Partners 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 in the last quarter. Balentine LLC increased its holdings in Shell Midstream Partners by 63.7% in the third quarter. Balentine LLC now owns 7,763 shares of the pipeline company’s stock valued at $216,000 after buying an additional 3,021 shares in the last quarter. Finally, Doliver Capital Advisors LP purchased a new position in Shell Midstream Partners in the second quarter valued at $242,000. 53.20% of the stock is owned by institutional investors.
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Shell Midstream Partners Company Profile
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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