Shell Midstream Partners (NYSE:SHLX) Rating Increased to Buy at Zacks Investment Research

Shell Midstream Partners (NYSE:SHLXGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The brokerage currently has a $16.00 price target on the pipeline company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.91% from the stock’s previous close.

According to Zacks, “Shell Midstream Partners, L.P. engages in owning, operating, developing and acquiring pipelines and other midstream assets. Its initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers. Shell Midstream Partners, L.P. is based in Houston, Texas. “

Several other analysts have also issued reports on SHLX. Jonestrading lowered shares of Shell Midstream Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, February 15th. StockNews.com initiated coverage on shares of Shell Midstream Partners in a research report on Thursday, March 31st. They set a “hold” rating for the company. Credit Suisse Group upped their price target 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. Bank of America upped their price objective on shares of Shell Midstream Partners from $12.50 to $13.00 and gave the company an “underperform” rating in a research note on Tuesday, January 18th. Finally, Barclays downgraded shares of Shell Midstream Partners from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $14.00 to $13.00 in a research note on Thursday, January 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Shell Midstream Partners currently has a consensus rating of “Hold” and a consensus target price of $13.83.

Shares of NYSE:SHLX opened at $14.17 on Thursday. Shell Midstream Partners has a 52-week low of $10.76 and a 52-week high of $16.50. The firm has a fifty day moving average of $14.03 and a 200 day moving average of $12.76. The firm has a market capitalization of $5.57 billion, a PE ratio of 11.34 and a beta of 1.52. The company has a debt-to-equity ratio of 4.09, a quick ratio of 0.95 and a current ratio of 0.95.

Shell Midstream Partners (NYSE:SHLXGet Rating) last posted its quarterly earnings results on Thursday, February 24th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Shell Midstream Partners had a net margin of 100.00% and a return on equity of 103.11%. The business had revenue of $141.00 million during the quarter, compared to analyst estimates of $130.73 million. During the same period in the prior year, the business posted $0.29 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that Shell Midstream Partners will post 1.48 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY raised its stake in Shell Midstream Partners by 29.4% in the first quarter. Miller Howard Investments Inc. NY now owns 709,232 shares of the pipeline company’s stock worth $10,085,000 after buying an additional 161,335 shares in the last quarter. Selective Wealth Management Inc. bought a new position in shares of Shell Midstream Partners during the first quarter valued at approximately $43,000. Fractal Investments LLC increased its stake in shares of Shell Midstream Partners by 522.6% during the first quarter. Fractal Investments LLC now owns 401,966 shares of the pipeline company’s stock valued at $5,716,000 after purchasing an additional 337,400 shares in the last quarter. Eagle Global Advisors LLC bought a new position in shares of Shell Midstream Partners during the first quarter valued at approximately $5,321,000. Finally, Great Valley Advisor Group Inc. increased its stake in shares of Shell Midstream Partners by 8.5% during the first quarter. Great Valley Advisor Group Inc. now owns 166,165 shares of the pipeline company’s stock valued at $2,363,000 after purchasing an additional 12,970 shares in the last quarter. 18.56% of the stock is owned by institutional investors.

About Shell Midstream Partners (Get Rating)

Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream, and logistics assets in the United States. It owns interests in crude oil and refined products pipelines and terminals to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets.

Featured Articles

Get a free copy of the Zacks research report on Shell Midstream Partners (SHLX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

Receive News & Ratings for Shell Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shell Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.