Recent Analysts’ Ratings Changes for Shell Midstream Partners (SHLX)

A number of firms have modified their ratings and price targets on shares of Shell Midstream Partners (NYSE: SHLX) recently:

  • 11/7/2018 – Shell Midstream Partners was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shell Midstream Partners, L.P. engages in owning, operating, developing and acquiring pipelines and other midstream assets. Its initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers. Shell Midstream Partners, L.P. is based in Houston, Texas. “
  • 11/6/2018 – Shell Midstream Partners was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 11/6/2018 – Shell Midstream Partners was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating. They now have a $22.00 price target on the stock.
  • 11/6/2018 – Shell Midstream Partners was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $22.00 price target on the stock. According to Zacks, “Shell Midstream Partners, L.P. engages in owning, operating, developing and acquiring pipelines and other midstream assets. Its initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers. Shell Midstream Partners, L.P. is based in Houston, Texas. “
  • 10/27/2018 – Shell Midstream Partners was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shell Midstream Partners, L.P. engages in owning, operating, developing and acquiring pipelines and other midstream assets. Its initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers. Shell Midstream Partners, L.P. is based in Houston, Texas. “
  • 10/11/2018 – Shell Midstream Partners was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 10/11/2018 – Shell Midstream Partners is now covered by analysts at Credit Suisse Group AG. They set a “neutral” rating and a $24.00 price target on the stock.
  • 9/20/2018 – Shell Midstream Partners was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $25.00 price target on the stock. According to Zacks, “Shell Midstream Partners, L.P. engages in owning, operating, developing and acquiring pipelines and other midstream assets. Its initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers. Shell Midstream Partners, L.P. is based in Houston, Texas. “
  • 9/13/2018 – Shell Midstream Partners had its price target lowered by analysts at Wells Fargo & Co from $24.00 to $22.00. They now have a “market perform” rating on the stock.
  • 9/11/2018 – Shell Midstream Partners was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $25.00 price target on the stock. According to Zacks, “Shell Midstream Partners, L.P. engages in owning, operating, developing and acquiring pipelines and other midstream assets. Its initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers. Shell Midstream Partners, L.P. is based in Houston, Texas. “
  • 9/8/2018 – Shell Midstream Partners was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shell Midstream Partners, L.P. engages in owning, operating, developing and acquiring pipelines and other midstream assets. Its initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers. Shell Midstream Partners, L.P. is based in Houston, Texas. “

SHLX traded down $0.14 during trading on Wednesday, hitting $18.66. 15,060 shares of the company’s stock traded hands, compared to its average volume of 646,376. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 2.18. Shell Midstream Partners LP has a 12-month low of $18.60 and a 12-month high of $31.19. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 4.47 and a beta of 1.13.

Shell Midstream Partners (NYSE:SHLX) last issued its earnings results on Thursday, November 1st. The pipeline company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.42 by $0.08. Shell Midstream Partners had a negative return on equity of 257.81% and a net margin of 80.40%. The business had revenue of $153.50 million for the quarter, compared to the consensus estimate of $137.00 million. During the same period last year, the business posted $0.31 EPS. As a group, research analysts forecast that Shell Midstream Partners LP will post 1.43 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th will be paid a $0.382 dividend. This is an increase from Shell Midstream Partners’s previous quarterly dividend of $0.37. This represents a $1.53 dividend on an annualized basis and a dividend yield of 8.19%. The ex-dividend date is Friday, November 2nd. Shell Midstream Partners’s dividend payout ratio (DPR) is 119.53%.

Several hedge funds have recently added to or reduced their stakes in SHLX. MHI Funds LLC purchased a new position in shares of Shell Midstream Partners in the 3rd quarter worth $240,000. First National Trust Co purchased a new position in shares of Shell Midstream Partners in the 3rd quarter worth $270,000. Baldwin Brothers Inc. MA purchased a new position in shares of Shell Midstream Partners in the 2nd quarter worth $291,000. Gryphon Financial Partners LLC boosted its stake in shares of Shell Midstream Partners by 350.4% in the 3rd quarter. Gryphon Financial Partners LLC now owns 14,525 shares of the pipeline company’s stock worth $310,000 after buying an additional 11,300 shares during the last quarter. Finally, Tortoise Index Solutions LLC boosted its stake in shares of Shell Midstream Partners by 16.3% in the 2nd quarter. Tortoise Index Solutions LLC now owns 20,346 shares of the pipeline company’s stock worth $451,000 after buying an additional 2,845 shares during the last quarter. Hedge funds and other institutional investors own 53.55% of the company’s stock.

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.

Further Reading: Understanding Price to Earnings Ratio (PE)

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