BidaskClub Lowers Shell Midstream Partners, L.P. (SHLX) to Strong Sell

BidaskClub cut shares of Shell Midstream Partners, L.P. (NYSE:SHLX) from a sell rating to a strong sell rating in a research report report published on Friday, October 27th.

Several other equities analysts have also commented on SHLX. Zacks Investment Research upgraded Shell Midstream Partners, L.P. from a sell rating to a hold rating in a research report on Wednesday, August 16th. Stifel Nicolaus reiterated 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. Finally, Royal Bank of Canada reiterated a buy rating and set a $41.00 price objective on shares of Shell Midstream Partners, L.P. in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Shell Midstream Partners, L.P. currently has an average rating of Hold and a consensus price target of $35.00.

Shares of Shell Midstream Partners, L.P. (SHLX) traded down $0.29 during midday trading on Friday, reaching $27.02. The company’s stock had a trading volume of 256,500 shares, compared to its average volume of 359,870. The company has a market cap of $5,128.34, a price-to-earnings ratio of 21.50, a P/E/G ratio of 1.56 and a beta of 1.12. The company has a debt-to-equity ratio of 42.36, a current ratio of 3.36 and a quick ratio of 3.30. Shell Midstream Partners, L.P. has a fifty-two week low of $24.68 and a fifty-two week high of $34.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last announced its earnings results on Friday, November 3rd. The pipeline company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The business had revenue of $94.40 million during the quarter, compared to the consensus estimate of $86.36 million. Shell Midstream Partners, L.P. had a return on equity of 3,826.80% and a net margin of 85.14%. Shell Midstream Partners, L.P.’s revenue was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. sell-side analysts expect that Shell Midstream Partners, L.P. will post 1.25 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, November 14th will be given a dividend of $0.318 per share. This represents a $1.27 annualized dividend and a yield of 4.71%. This is a positive change from Shell Midstream Partners, L.P.’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, October 30th. Shell Midstream Partners, L.P.’s dividend payout ratio (DPR) is presently 100.00%.

A number of institutional investors and hedge funds have recently bought and sold shares of SHLX. Alps Advisors Inc. grew its position in Shell Midstream Partners, L.P. by 11.3% during the 3rd quarter. Alps Advisors Inc. now owns 7,218,418 shares of the pipeline company’s stock worth $200,961,000 after acquiring an additional 733,321 shares during the last quarter. ING Groep NV grew its position in Shell Midstream Partners, L.P. by 533.7% during the 3rd quarter. ING Groep NV now owns 554,496 shares of the pipeline company’s stock worth $15,437,000 after acquiring an additional 467,000 shares during the last quarter. JPMorgan Chase & Co. grew its position in Shell Midstream Partners, L.P. by 23.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,725 shares of the pipeline company’s stock worth $51,357,000 after acquiring an additional 356,134 shares during the last quarter. Bank of Montreal Can grew its position in Shell Midstream Partners, L.P. by 37.8% during the 2nd quarter. Bank of Montreal Can now owns 1,237,230 shares of the pipeline company’s stock worth $37,488,000 after acquiring an additional 339,230 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Shell Midstream Partners, L.P. by 15.1% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,130,620 shares of the pipeline company’s stock worth $64,558,000 after acquiring an additional 280,018 shares during the last quarter. Institutional investors and hedge funds own 43.67% of the company’s stock.

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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