Shell Midstream Partners, L.P. (SHLX) Stock Rating Reaffirmed by Stifel Nicolaus

Shell Midstream Partners, L.P. (NYSE:SHLX)‘s stock had its “buy” rating reaffirmed by analysts at Stifel Nicolaus in a note issued to investors on Friday. They presently have a $30.00 price target on the pipeline company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 9.25% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. BidaskClub raised Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a report on Friday, September 8th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $41.00 price objective on shares of Shell Midstream Partners, L.P. in a report on Monday, August 21st. Finally, Zacks Investment Research raised Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.83.

Shell Midstream Partners, L.P. (NYSE SHLX) opened at 27.46 on Friday. The firm has a market capitalization of $4.87 billion, a P/E ratio of 22.27 and a beta of 1.17. The stock’s 50 day moving average price is $27.22 and its 200 day moving average price is $30.07. Shell Midstream Partners, L.P. has a 52 week low of $25.42 and a 52 week high of $34.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last issued its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The firm had revenue of $86.80 million for the quarter, compared to analyst estimates of $69.55 million. Shell Midstream Partners, L.P. had a return on equity of 258.67% and a net margin of 87.22%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share. On average, equities analysts expect that Shell Midstream Partners, L.P. will post $1.36 EPS for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in shares of Shell Midstream Partners, L.P. by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock worth $149,000 after acquiring an additional 63 shares during the last quarter. Paragon Capital Management Ltd raised its holdings in shares of Shell Midstream Partners, L.P. by 0.9% in the second quarter. Paragon Capital Management Ltd now owns 11,800 shares of the pipeline company’s stock worth $358,000 after acquiring an additional 105 shares during the last quarter. Linscomb & Williams Inc. raised its holdings in shares of Shell Midstream Partners, L.P. by 1.2% in the second quarter. Linscomb & Williams Inc. now owns 11,239 shares of the pipeline company’s stock worth $341,000 after acquiring an additional 129 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Shell Midstream Partners, L.P. by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 31,971 shares of the pipeline company’s stock worth $969,000 after acquiring an additional 166 shares during the last quarter. Finally, Global Endowment Management LP raised its holdings in shares of Shell Midstream Partners, L.P. by 1.0% in the first quarter. Global Endowment Management LP now owns 19,620 shares of the pipeline company’s stock worth $633,000 after acquiring an additional 200 shares during the last quarter. 46.02% of the stock is owned by institutional investors.

About Shell Midstream Partners, L.P.

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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