Brokerages Set Shell Midstream Partners, L.P. (NYSE:SHLX) Target Price at $13.40

Shell Midstream Partners, L.P. (NYSE:SHLXGet Rating) has earned a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $13.40.

A number of equities analysts recently weighed in on SHLX shares. StockNews.com started coverage on shares of Shell Midstream Partners in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Credit Suisse Group lifted their price objective on shares of Shell Midstream Partners from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, February 25th. Zacks Investment Research upgraded shares of Shell Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, March 23rd. Bank of America boosted their target price on shares of Shell Midstream Partners from $12.50 to $13.00 and gave the stock an “underperform” rating in a research report on Tuesday, January 18th. Finally, Barclays lowered shares of Shell Midstream Partners from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $14.00 to $13.00 in a research report on Thursday, January 20th.

Shares of SHLX opened at $14.20 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 4.09. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 11.36 and a beta of 1.52. The business’s 50 day simple moving average is $13.95. Shell Midstream Partners has a 12-month low of $10.76 and a 12-month high of $16.50.

Shell Midstream Partners (NYSE:SHLXGet Rating) last announced its earnings results on Thursday, February 24th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $141.00 million for the quarter, compared to analyst estimates of $130.73 million. Shell Midstream Partners had a net margin of 100.00% and a return on equity of 103.11%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. As a group, analysts expect that Shell Midstream Partners will post 1.48 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 11th. Shareholders of record on Tuesday, February 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 8.45%. Shell Midstream Partners’s payout ratio is currently 96.00%.

Several large investors have recently added to or reduced their stakes in SHLX. Morgan Stanley raised its stake in shares of Shell Midstream Partners by 48.5% during the 3rd quarter. Morgan Stanley now owns 3,305,592 shares of the pipeline company’s stock worth $38,907,000 after buying an additional 1,078,907 shares during the last quarter. Invesco Ltd. raised its stake in shares of Shell Midstream Partners by 2,667.8% during the 4th quarter. Invesco Ltd. now owns 1,100,000 shares of the pipeline company’s stock worth $12,672,000 after buying an additional 1,060,257 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Shell Midstream Partners by 34.1% during the 4th quarter. Wells Fargo & Company MN now owns 2,857,569 shares of the pipeline company’s stock worth $32,919,000 after buying an additional 726,208 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Shell Midstream Partners by 236.1% during the 4th quarter. Bank of Montreal Can now owns 968,400 shares of the pipeline company’s stock worth $11,098,000 after buying an additional 680,300 shares during the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of Shell Midstream Partners by 3.5% during the 4th quarter. Alps Advisors Inc. now owns 16,129,311 shares of the pipeline company’s stock worth $185,810,000 after buying an additional 548,412 shares during the last quarter. 18.56% of the stock is owned by institutional investors and hedge funds.

Shell Midstream Partners Company Profile (Get Rating)

Shell Midstream Partners LP owns, operates, develops, and acquires pipelines and other midstream assets. Its assets consist of entities which hold interest in crude oil and refined products pipelines and a crude tank storage and terminal system. The company was founded on March 19, 2014 and is headquartered in Houston, TX.

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