Shell Midstream Partners (NYSE:SHLX) had its target price boosted by Stifel Nicolaus from $25.00 to $26.00 in a report published on Wednesday morning, Marketbeat Ratings reports. They currently have a hold rating on the pipeline company’s stock.
SHLX has been the topic of a number of other reports. Royal Bank of Canada decreased their target price on Shell Midstream Partners to $30.00 and set an outperform rating on the stock in a report on Monday, May 7th. ValuEngine lowered Shell Midstream Partners from a sell rating to a strong sell rating in a report on Wednesday, May 2nd. Zacks Investment Research raised Shell Midstream Partners from a sell rating to a hold rating in a report on Wednesday, March 14th. Morgan Stanley decreased their target price on Shell Midstream Partners from $30.00 to $27.00 and set an equal weight rating on the stock in a report on Thursday, March 29th. Finally, Citigroup decreased their target price on Shell Midstream Partners from $32.00 to $28.50 and set a buy rating on the stock in a report on Wednesday, March 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $29.50.
Shell Midstream Partners opened at $23.88 on Wednesday, Marketbeat Ratings reports. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 3.34 and a beta of 1.23. Shell Midstream Partners has a twelve month low of $19.42 and a twelve month high of $31.81. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 2.18.
Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings results on Thursday, May 3rd. The pipeline company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.02. The firm had revenue of $99.60 million for the quarter, compared to analyst estimates of $101.76 million. Shell Midstream Partners had a negative return on equity of 300.60% and a net margin of 70.78%. The business’s quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. research analysts forecast that Shell Midstream Partners will post 1.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, May 7th were issued a dividend of $0.348 per share. The ex-dividend date was Friday, May 4th. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.33. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.83%. Shell Midstream Partners’s payout ratio is presently 108.59%.
Several hedge funds have recently bought and sold shares of the stock. Infrastructure Capital Advisors LLC boosted its stake in Shell Midstream Partners by 10.4% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 25,902 shares of the pipeline company’s stock valued at $545,000 after purchasing an additional 2,446 shares during the period. RiverPoint Capital Management LLC boosted its stake in Shell Midstream Partners by 31.3% in the 4th quarter. RiverPoint Capital Management LLC now owns 12,600 shares of the pipeline company’s stock valued at $376,000 after purchasing an additional 3,000 shares during the period. Icon Wealth Partners LLC boosted its stake in Shell Midstream Partners by 22.2% in the 1st quarter. Icon Wealth Partners LLC now owns 16,923 shares of the pipeline company’s stock valued at $356,000 after purchasing an additional 3,069 shares during the period. Advisory Research Inc. boosted its stake in Shell Midstream Partners by 2.5% in the 4th quarter. Advisory Research Inc. now owns 202,530 shares of the pipeline company’s stock valued at $6,039,000 after purchasing an additional 4,845 shares during the period. Finally, Stuart Chaussee & Associates Inc. bought a new stake in Shell Midstream Partners in the 4th quarter valued at $152,000. 48.32% of the stock is currently owned by institutional investors and hedge funds.
Shell Midstream Partners Company Profile
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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