Shell Midstream Partners (NYSE:SHLX) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Tuesday.
SHLX has been the subject of several other research reports. Zacks Investment Research raised Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday, August 29th. Wells Fargo & Co cut their target price on Shell Midstream Partners from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, September 13th. Bank of America began coverage on Shell Midstream Partners in a research note on Tuesday, July 10th. They issued a “buy” rating and a $27.00 target price for the company. JPMorgan Chase & Co. cut their target price on Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, August 24th. Finally, Credit Suisse Group began coverage on Shell Midstream Partners in a research note on Thursday, October 11th. They issued a “neutral” rating and a $24.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $27.12.
Shares of NYSE SHLX opened at $19.02 on Tuesday. Shell Midstream Partners has a 12 month low of $19.02 and a 12 month high of $31.19. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 2.18. The stock has a market cap of $4.40 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 4.47 and a beta of 1.13.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings data on Thursday, November 1st. The pipeline company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $153.50 million during the quarter, compared to analyst estimates of $137.00 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Sell-side analysts anticipate that Shell Midstream Partners will post 1.47 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust purchased a new stake in shares of Shell Midstream Partners during the third quarter valued at approximately $833,000. First Republic Investment Management Inc. purchased a new stake in shares of Shell Midstream Partners during the second quarter valued at approximately $3,105,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Shell Midstream Partners by 6.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 273,900 shares of the pipeline company’s stock valued at $5,856,000 after purchasing an additional 16,000 shares during the period. Cadence Capital Management LLC boosted its stake in shares of Shell Midstream Partners by 38.6% during the second quarter. Cadence Capital Management LLC now owns 334,962 shares of the pipeline company’s stock valued at $7,429,000 after purchasing an additional 93,272 shares during the period. Finally, Conning Inc. boosted its stake in shares of Shell Midstream Partners by 129.9% during the second quarter. Conning Inc. now owns 84,209 shares of the pipeline company’s stock valued at $1,868,000 after purchasing an additional 47,582 shares during the period. 53.55% of the stock is owned by hedge funds and other institutional investors.
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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