Shell Midstream Partners LP (SHLX) Receives $27.29 Consensus Target Price from Analysts

Shell Midstream Partners LP (NYSE:SHLX) has been assigned a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $26.63.

Several research analysts have weighed in on the company. Zacks Investment Research upgraded Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Thursday, July 19th. Stifel Nicolaus cut their price target on Shell Midstream Partners from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday, August 3rd. ValuEngine upgraded Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Friday, August 17th. JPMorgan Chase & Co. cut their price target on Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 24th. Finally, Wells Fargo & Co cut their price target on Shell Midstream Partners from $24.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, September 13th.

Hedge funds have recently added to or reduced their stakes in the company. RR Advisors LLC boosted its position in Shell Midstream Partners by 25.3% during the 3rd quarter. RR Advisors LLC now owns 1,886,000 shares of the pipeline company’s stock worth $40,342,000 after purchasing an additional 381,000 shares during the period. Tortoise Capital Advisors L.L.C. boosted its position in Shell Midstream Partners by 6.2% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 18,766,964 shares of the pipeline company’s stock worth $401,238,000 after purchasing an additional 1,088,507 shares during the period. Linscomb & Williams Inc. boosted its position in Shell Midstream Partners by 76.4% during the 3rd quarter. Linscomb & Williams Inc. now owns 18,792 shares of the pipeline company’s stock worth $402,000 after purchasing an additional 8,139 shares during the period. Kayne Anderson Capital Advisors LP boosted its position in Shell Midstream Partners by 10.4% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 9,021,453 shares of the pipeline company’s stock worth $192,863,000 after purchasing an additional 852,367 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Shell Midstream Partners by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,151,481 shares of the pipeline company’s stock worth $67,379,000 after purchasing an additional 34,230 shares during the period. Institutional investors and hedge funds own 53.55% of the company’s stock.

SHLX stock traded down $0.08 on Friday, reaching $19.55. The company had a trading volume of 48,404 shares, compared to its average volume of 716,816. Shell Midstream Partners has a 1 year low of $18.58 and a 1 year high of $31.19. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.66 and a current ratio of 4.64. The firm has a market cap of $4.21 billion, a P/E ratio of 15.24, a PEG ratio of 4.38 and a beta of 1.13.

Shell Midstream Partners (NYSE:SHLX) last posted its earnings results on Thursday, November 1st. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. Shell Midstream Partners had a negative return on equity of 215.59% and a net margin of 80.40%. The firm had revenue of $153.50 million for the quarter, compared to analyst estimates of $137.00 million. During the same quarter in the prior year, the company earned $0.31 EPS. On average, research analysts predict that Shell Midstream Partners will post 1.43 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th will be issued a dividend of $0.382 per share. This represents a $1.53 dividend on an annualized basis and a dividend yield of 7.82%. This is an increase from Shell Midstream Partners’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, November 2nd. Shell Midstream Partners’s dividend payout ratio is presently 119.53%.

Shell Midstream Partners Company Profile

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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Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

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