Zacks Investment Research upgraded shares of Shell Midstream Partners (NYSE:SHLX) from a hold rating to a buy rating in a report released on Tuesday, Zacks.com reports. They currently have $24.00 target price on the pipeline company’s 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. “
A number of other brokerages also recently commented on SHLX. ValuEngine downgraded shares of Zions Bancorporation NA from a hold rating to a sell rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. set a €47.00 ($54.65) price objective on shares of BNP Paribas and gave the company a neutral rating in a research report on Wednesday, March 13th. Mizuho set a $71.00 price objective on shares of CVS Health and gave the company a buy rating in a research report on Wednesday, June 5th. Finally, Credit Suisse Group initiated coverage on shares of Luckin Coffee in a research report on Tuesday, June 11th. They set an outperform rating and a $24.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $23.89.
Shares of SHLX opened at $21.43 on Tuesday. The company’s 50 day moving average is $20.67. Shell Midstream Partners has a 52 week low of $15.86 and a 52 week high of $25.08. The stock has a market capitalization of $4.75 billion, a P/E ratio of 11.98, a PEG ratio of 4.88 and a beta of 1.03.
Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings data on Thursday, May 2nd. The pipeline company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. Shell Midstream Partners had a net margin of 95.68% and a negative return on equity of 190.89%. The firm had revenue of $131.00 million for the quarter, compared to the consensus estimate of $127.60 million. During the same period in the previous year, the firm posted $0.18 earnings per share. As a group, equities research analysts forecast that Shell Midstream Partners will post 1.74 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of SHLX. Raymond James Financial Services Advisors Inc. lifted its stake in Shell Midstream Partners by 20.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 61,037 shares of the pipeline company’s stock worth $1,002,000 after purchasing an additional 10,456 shares in the last quarter. Van ECK Associates Corp purchased a new position in Shell Midstream Partners in the 4th quarter worth approximately $545,000. Bessemer Group Inc. purchased a new position in Shell Midstream Partners in the 4th quarter worth approximately $35,000. Hsbc Holdings PLC purchased a new position in Shell Midstream Partners in the 4th quarter worth approximately $2,070,000. Finally, Infrastructure Capital Advisors LLC lifted its stake in Shell Midstream Partners by 0.7% in the 4th quarter. Infrastructure Capital Advisors LLC now owns 137,490 shares of the pipeline company’s stock worth $2,256,000 after purchasing an additional 1,014 shares in the last quarter. Hedge funds and other institutional investors own 53.83% of the company’s stock.
About Shell Midstream Partners
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.
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