ValuEngine Lowers Shell Midstream Partners (SHLX) to Strong Sell

ValuEngine downgraded shares of Shell Midstream Partners (NYSE:SHLX) from a sell rating to a strong sell rating in a report published on Tuesday morning.

Several other research analysts have also weighed in on the company. Zacks Investment Research lowered Shell Midstream Partners from a buy rating to a hold rating in a research report on Saturday, October 27th. Stifel Nicolaus lowered their price objective on Shell Midstream Partners from $26.00 to $24.00 and set a hold rating for the company in a research report on Friday, August 3rd. Wells Fargo & Co lowered their price objective on Shell Midstream Partners from $24.00 to $22.00 and set a market perform rating for the company in a research report on Thursday, September 13th. Bank of America started coverage on Shell Midstream Partners in a research report on Tuesday, July 10th. They issued a buy rating and a $27.00 price objective for the company. Finally, Barclays lowered their price objective on Shell Midstream Partners from $29.00 to $24.00 and set an equal weight rating for the company in a research report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $26.27.

Shares of SHLX stock traded down $0.16 during trading hours on Tuesday, reaching $19.47. The company had a trading volume of 36,061 shares, compared to its average volume of 716,816. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.64 and a quick ratio of 3.66. The firm has a market capitalization of $4.21 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 4.38 and a beta of 1.13. Shell Midstream Partners has a 12-month low of $18.58 and a 12-month high of $31.19.

Shell Midstream Partners (NYSE:SHLX) last posted its quarterly 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. The business had revenue of $153.50 million during the quarter, compared to analyst estimates of $137.00 million. Shell Midstream Partners had a negative return on equity of 215.59% and a net margin of 80.40%. During the same period in the prior year, the business earned $0.31 earnings per share. On average, equities research analysts expect that Shell Midstream Partners will post 1.43 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th will be paid a dividend of $0.382 per share. This represents a $1.53 dividend on an annualized basis and a yield of 7.85%. This is a boost from Shell Midstream Partners’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, November 2nd. Shell Midstream Partners’s dividend payout ratio is 119.53%.

Large investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust acquired a new position in Shell Midstream Partners during the third quarter worth $833,000. First Republic Investment Management Inc. acquired a new position in Shell Midstream Partners during the second quarter worth $3,105,000. State of New Jersey Common Pension Fund D lifted its stake in 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 worth $5,856,000 after purchasing an additional 16,000 shares in the last quarter. Cadence Capital Management LLC lifted its stake in 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 worth $7,429,000 after purchasing an additional 93,272 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in Shell Midstream Partners by 23.4% during the third quarter. Duff & Phelps Investment Management Co. now owns 534,625 shares of the pipeline company’s stock worth $11,430,000 after purchasing an additional 101,300 shares in the last quarter. Institutional investors own 53.55% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

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