Shell Midstream Partners (NYSE:SHLX) Rating Increased to Sell at ValuEngine

ValuEngine upgraded shares of Shell Midstream Partners (NYSE:SHLX) from a strong sell rating to a sell rating in a research note published on Tuesday morning, ValuEngine reports.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. cut Shell Midstream Partners from a neutral rating to an underweight rating and lowered their target price for the company from $23.00 to $22.00 in a research note on Tuesday, August 20th. Barclays set a $21.00 price target on Shell Midstream Partners and gave the company a hold rating in a research note on Tuesday, October 15th. UBS Group cut their price target on Shell Midstream Partners from $24.00 to $22.00 and set a buy rating on the stock in a research note on Wednesday, September 11th. Finally, Zacks Investment Research cut Shell Midstream Partners from a strong-buy rating to a hold rating in a report on Wednesday, October 23rd. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Shell Midstream Partners has a consensus rating of Hold and an average target price of $20.67.

SHLX opened at $19.77 on Tuesday. Shell Midstream Partners has a 1-year low of $15.86 and a 1-year high of $21.99. The stock has a market capitalization of $4.61 billion, a PE ratio of 11.23, a PEG ratio of 11.50 and a beta of 1.03. The firm has a 50-day moving average price of $20.30 and a two-hundred day moving average price of $20.55.

Shell Midstream Partners (NYSE:SHLX) last announced its earnings results on Thursday, October 31st. The pipeline company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.05. Shell Midstream Partners had a net margin of 101.89% and a negative return on equity of 104.00%. The company had revenue of $125.00 million for the quarter, compared to analyst estimates of $116.18 million. During the same period in the prior year, the business earned $0.50 earnings per share. Shell Midstream Partners’s quarterly revenue was down 18.6% on a year-over-year basis. On average, sell-side analysts expect that Shell Midstream Partners will post 1.71 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 9.00%. This is an increase from Shell Midstream Partners’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, November 1st.

A number of hedge funds and other institutional investors have recently made changes to their positions in SHLX. Alps Advisors Inc. grew its holdings in Shell Midstream Partners by 37.8% during the 3rd quarter. Alps Advisors Inc. now owns 14,909,405 shares of the pipeline company’s stock worth $304,897,000 after acquiring an additional 4,086,167 shares during the period. Kayne Anderson Capital Advisors LP raised its position in shares of Shell Midstream Partners by 5.8% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 10,270,755 shares of the pipeline company’s stock valued at $212,800,000 after acquiring an additional 562,500 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Shell Midstream Partners by 6,252.9% in the 2nd quarter. Invesco Ltd. now owns 5,812,979 shares of the pipeline company’s stock valued at $120,445,000 after purchasing an additional 5,721,478 shares during the period. Energy Income Partners LLC lifted its stake in shares of Shell Midstream Partners by 7.9% in the 2nd quarter. Energy Income Partners LLC now owns 3,893,517 shares of the pipeline company’s stock valued at $80,674,000 after purchasing an additional 286,408 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of Shell Midstream Partners by 1.1% in the 2nd quarter. Bank of Montreal Can now owns 1,120,944 shares of the pipeline company’s stock valued at $23,226,000 after purchasing an additional 11,658 shares during the period. Institutional investors and hedge funds own 50.55% of the company’s stock.

Shell Midstream Partners Company Profile

Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. It owns interests in crude oil and refined products pipelines and terminals to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets.

Further Reading: Sell-Side Analysts

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

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