Shell Midstream Partners, L.P. (SHLX) Receives $37.83 Average PT from Analysts

Shares of Shell Midstream Partners, L.P. (NYSE:SHLX) have been assigned a consensus rating of “Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $37.83.

SHLX has been the topic of a number of research analyst reports. BidaskClub raised shares of Shell Midstream Partners, L.P. from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Royal Bank Of Canada reissued a “buy” rating and set a $41.00 price objective on shares of Shell Midstream Partners, L.P. in a research report on Monday, August 21st. Zacks Investment Research cut shares of Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $36.00 price objective on shares of Shell Midstream Partners, L.P. in a research report on Friday, July 14th.

Shell Midstream Partners, L.P. (SHLX) traded down 1.92% on Tuesday, reaching $27.65. The company’s stock had a trading volume of 354,238 shares. Shell Midstream Partners, L.P. has a 12 month low of $25.42 and a 12 month high of $34.17. The stock’s 50 day moving average price is $27.41 and its 200 day moving average price is $30.25. The company has a market cap of $4.91 billion, a P/E ratio of 22.42 and a beta of 1.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last released its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.02. The company had revenue of $86.80 million for the quarter, compared to the consensus estimate of $69.55 million. Shell Midstream Partners, L.P. had a return on equity of 258.67% and a net margin of 87.22%. Shell Midstream Partners, L.P.’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. Equities research analysts forecast that Shell Midstream Partners, L.P. will post $1.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were given a $0.3041 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.22 annualized dividend and a yield of 4.40%. Shell Midstream Partners, L.P.’s payout ratio is 98.39%.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mariner Investment Group LLC bought a new position in Shell Midstream Partners, L.P. in the 1st quarter valued at about $806,000. Blair William & Co. IL lifted its position in Shell Midstream Partners, L.P. by 1.1% in the 2nd quarter. Blair William & Co. IL now owns 152,772 shares of the pipeline company’s stock valued at $4,629,000 after acquiring an additional 1,615 shares in the last quarter. Johnson Financial Group LLC bought a new position in Shell Midstream Partners, L.P. in the 2nd quarter valued at about $218,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Shell Midstream Partners, L.P. in the 2nd quarter valued at about $1,030,000. Finally, First Trust Advisors LP lifted its position in Shell Midstream Partners, L.P. by 14.9% in the 1st quarter. First Trust Advisors LP now owns 162,815 shares of the pipeline company’s stock valued at $5,248,000 after acquiring an additional 21,083 shares in the last quarter. 46.02% of the stock is currently owned by institutional investors and hedge funds.

Shell Midstream Partners, L.P. 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, L.P. (NYSE:SHLX)

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