Shell Midstream Partners, L.P. (NYSE:SHLX)‘s stock had its “buy” rating reaffirmed by analysts at Stifel Nicolaus in a note issued to investors on Friday, July 14th. They presently have a $36.00 price objective on the pipeline company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 25.48% from the company’s previous close.
A number of other brokerages have also recently issued reports on SHLX. BidaskClub upgraded shares of Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Shell Midstream Partners, L.P. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $37.83.
Shares of Shell Midstream Partners, L.P. (NYSE SHLX) traded down 0.45% on Friday, hitting $28.56. 122,411 shares of the company’s stock were exchanged. Shell Midstream Partners, L.P. has a 12-month low of $25.42 and a 12-month high of $34.17. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 22.16 and a beta of 1.20. The company’s 50-day moving average price is $29.40 and its 200 day moving average price is $31.22.
Shell Midstream Partners, L.P. (NYSE:SHLX) last announced its quarterly earnings data on Friday, May 5th. The pipeline company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Shell Midstream Partners, L.P. had a net margin of 91.43% and a return on equity of 99.20%. The company had revenue of $70.20 million during the quarter, compared to analyst estimates of $77.82 million. During the same quarter last year, the business earned $0.36 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, equities analysts predict that Shell Midstream Partners, L.P. will post $1.43 earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of SHLX. Chickasaw Capital Management LLC increased its stake in shares of Shell Midstream Partners, L.P. by 1.8% in the second quarter. Chickasaw Capital Management LLC now owns 8,626,823 shares of the pipeline company’s stock worth $261,393,000 after buying an additional 153,936 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in shares of Shell Midstream Partners, L.P. by 5.5% in the first quarter. Kayne Anderson Capital Advisors LP now owns 4,501,261 shares of the pipeline company’s stock worth $145,061,000 after buying an additional 235,600 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Shell Midstream Partners, L.P. by 20.4% in the first quarter. OppenheimerFunds Inc. now owns 3,565,333 shares of the pipeline company’s stock worth $114,911,000 after buying an additional 604,158 shares during the period. Eagle Global Advisors LLC increased its stake in shares of Shell Midstream Partners, L.P. by 7.5% in the first quarter. Eagle Global Advisors LLC now owns 1,731,257 shares of the pipeline company’s stock worth $55,798,000 after buying an additional 120,935 shares during the period. Finally, UBS Group AG increased its stake in shares of Shell Midstream Partners, L.P. by 76.1% in the first quarter. UBS Group AG now owns 1,559,372 shares of the pipeline company’s stock worth $50,258,000 after buying an additional 673,623 shares during the period. Institutional investors and hedge funds own 50.12% of the company’s stock.
About Shell Midstream Partners, L.P.
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.
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