Shell Midstream Partners LP (SHLX) Receives $34.50 Consensus Target Price from Analysts

Shares of Shell Midstream Partners LP (NYSE:SHLX) have been given a consensus recommendation of “Buy” by the ten ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $34.50.

Several brokerages have issued reports on SHLX. Stifel Nicolaus set a $30.00 price target on shares of Shell Midstream Partners and gave the company a “buy” rating in a report on Thursday, November 30th. Citigroup reaffirmed a “buy” rating and issued a $32.00 price target (down previously from $36.50) on shares of Shell Midstream Partners in a report on Monday, November 20th. UBS Group reduced their price target on shares of Shell Midstream Partners from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, November 17th. Barclays reduced their price target on shares of Shell Midstream Partners from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Finally, Morgan Stanley reduced their price target on shares of Shell Midstream Partners from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th.

Shell Midstream Partners (NYSE:SHLX) traded up $0.23 during mid-day trading on Monday, reaching $30.15. 727,634 shares of the company were exchanged, compared to its average volume of 600,829. The stock has a market capitalization of $5,660.00, a P/E ratio of 23.93, a P/E/G ratio of 1.36 and a beta of 1.16. 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.

Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $86.36 million. During the same period in the prior year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 39.0% on a year-over-year basis. analysts predict that Shell Midstream Partners will post 1.27 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tortoise Capital Advisors L.L.C. raised its position in shares of Shell Midstream Partners by 109.8% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 20,435,426 shares of the pipeline company’s stock valued at $568,922,000 after buying an additional 10,695,678 shares during the last quarter. Chickasaw Capital Management LLC raised its position in shares of Shell Midstream Partners by 5.6% in the fourth quarter. Chickasaw Capital Management LLC now owns 9,301,433 shares of the pipeline company’s stock valued at $277,369,000 after buying an additional 489,186 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Shell Midstream Partners by 11.3% in the third quarter. Alps Advisors Inc. now owns 7,218,418 shares of the pipeline company’s stock valued at $200,961,000 after buying an additional 733,321 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Shell Midstream Partners by 1.8% in the second quarter. Goldman Sachs Group Inc. now owns 4,249,453 shares of the pipeline company’s stock valued at $128,758,000 after buying an additional 73,184 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Shell Midstream Partners by 2.4% in the third quarter. American Century Companies Inc. now owns 2,370,667 shares of the pipeline company’s stock valued at $65,999,000 after buying an additional 54,706 shares during the last quarter. 53.00% of the stock is currently 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.

Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

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