Shell Midstream Partners (NYSE:SHLX) had its price objective dropped by research analysts at Barclays from $30.00 to $29.00 in a research report issued on Friday, November 17th. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Barclays’ price objective would indicate a potential upside of 8.17% from the stock’s current price.
Several other equities analysts also recently commented on SHLX. BidaskClub downgraded Shell Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Zacks Investment Research cut Shell Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $41.00 target price on shares of Shell Midstream Partners in a report on Monday, August 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 target price on shares of Shell Midstream Partners in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $34.50.
Shell Midstream Partners (NYSE:SHLX) traded down $0.93 during midday trading on Friday, hitting $26.81. The stock had a trading volume of 516,040 shares, compared to its average volume of 367,424. The company has a market cap of $5,209.08, a P/E ratio of 21.84, a P/E/G ratio of 1.68 and a beta of 1.15. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 42.36. Shell Midstream Partners has a 52-week low of $24.68 and a 52-week high of $34.17.
Shell Midstream Partners (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 Thomson Reuters’ consensus estimate of $0.36 by ($0.05). The company had revenue of $94.40 million for the quarter, compared to the consensus estimate of $86.36 million. Shell Midstream Partners had a net margin of 85.14% and a return on equity of 3,826.80%. The business’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS. research analysts expect that Shell Midstream Partners will post 1.27 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan increased its holdings in shares of Shell Midstream Partners by 5.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 107,700 shares of the pipeline company’s stock valued at $2,998,000 after purchasing an additional 5,960 shares during the period. Tiedemann Wealth Management LLC increased its holdings in shares of Shell Midstream Partners by 5.8% in the third quarter. Tiedemann Wealth Management LLC now owns 249,439 shares of the pipeline company’s stock valued at $6,642,000 after purchasing an additional 13,649 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Shell Midstream Partners by 7.9% in the second quarter. PNC Financial Services Group Inc. now owns 120,886 shares of the pipeline company’s stock valued at $3,663,000 after purchasing an additional 8,892 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Shell Midstream Partners in the second quarter valued at about $1,030,000. Finally, Blair William & Co. IL increased its holdings in shares of Shell Midstream Partners by 1.1% in the second quarter. Blair William & Co. IL now owns 152,772 shares of the pipeline company’s stock valued at $4,629,000 after purchasing an additional 1,615 shares during the period. 53.20% of the stock is currently owned by institutional investors and hedge funds.
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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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