Shell Midstream Partners (NYSE:SHLX) rose 5.2% on Monday . The company traded as high as $21.79 and last traded at $21.73. Approximately 987,151 shares traded hands during trading, a decline of 11% from the average daily volume of 1,108,497 shares. The stock had previously closed at $20.65.
SHLX has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Shell Midstream Partners in a report on Friday, February 2nd. UBS reissued a “buy” rating and set a $38.00 price objective (down from $40.00) on shares of Shell Midstream Partners in a report on Friday, March 2nd. JPMorgan Chase reissued an “overweight” rating and set a $31.00 price objective (down from $32.00) on shares of Shell Midstream Partners in a report on Tuesday, March 13th. Stifel Nicolaus lowered shares of Shell Midstream Partners from a “buy” rating to a “hold” rating and boosted their price objective for the company from $30.00 to $31.00 in a report on Wednesday, January 17th. Finally, Mizuho reissued a “buy” rating and set a $30.00 price objective on shares of Shell Midstream Partners in a report on Monday, March 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $30.56.
The company has a debt-to-equity ratio of -3.30, a quick ratio of 3.71 and a current ratio of 3.71. The firm has a market cap of $4,621.70, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.
Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings results on Tuesday, February 27th. The pipeline company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Shell Midstream Partners had a net margin of 78.08% and a negative return on equity of 179.87%. The company had revenue of $127.00 million for the quarter, compared to analyst estimates of $96.23 million. During the same period in the prior year, the company earned $0.34 earnings per share. analysts predict that Shell Midstream Partners will post 1.44 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of SHLX. Stuart Chaussee & Associates Inc. acquired a new position in shares of Shell Midstream Partners in the fourth quarter worth about $152,000. The Manufacturers Life Insurance Company raised its position in shares of 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 worth $172,000 after acquiring an additional 398 shares during the period. Creative Planning acquired a new position in shares of Shell Midstream Partners in the fourth quarter worth about $235,000. Jane Street Group LLC acquired a new position in shares of Shell Midstream Partners in the fourth quarter worth about $247,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Shell Midstream Partners in the fourth quarter worth about $274,000. 44.93% of the stock is currently owned by institutional investors.
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About Shell Midstream Partners
Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. Its crude oil pipeline systems include a 350 miles of Zydeco pipeline system; a 130-miles of delta pipeline; a 174-mile offshore Gulf of Mexico corridor pipeline; and a 75-mile offshore pipeline.
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