Shares of Shell Midstream Partners LP (NYSE:SHLX) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $20.20.
A number of brokerages have weighed in on SHLX. UBS Group decreased their target price on shares of Shell Midstream Partners from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Zacks Investment Research cut Shell Midstream Partners from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. ValuEngine raised Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 3rd. Barclays set a $21.00 target price on Shell Midstream Partners and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. cut Shell Midstream Partners from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $23.00 to $22.00 in a research note on Tuesday, August 20th.
A number of large investors have recently added to or reduced their stakes in SHLX. First National Trust Co lifted its position in shares of Shell Midstream Partners by 6.8% during the 3rd quarter. First National Trust Co now owns 11,840 shares of the pipeline company’s stock valued at $242,000 after buying an additional 758 shares in the last quarter. MHI Funds LLC grew its stake in shares of Shell Midstream Partners by 11.2% during the 3rd quarter. MHI Funds LLC now owns 10,299 shares of the pipeline company’s stock valued at $211,000 after acquiring an additional 1,036 shares during the period. Advisor Group Inc. increased its holdings in Shell Midstream Partners by 213.2% in the 2nd quarter. Advisor Group Inc. now owns 1,638 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 1,115 shares in the last quarter. Van ECK Associates Corp increased its holdings in Shell Midstream Partners by 3.3% in the 2nd quarter. Van ECK Associates Corp now owns 40,959 shares of the pipeline company’s stock worth $849,000 after acquiring an additional 1,290 shares in the last quarter. Finally, Cadence Capital Management LLC raised its stake in Shell Midstream Partners by 0.4% during the 2nd quarter. Cadence Capital Management LLC now owns 490,429 shares of the pipeline company’s stock worth $10,162,000 after acquiring an additional 1,967 shares during the period. 50.55% of the stock is owned by institutional investors and hedge funds.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings results on Thursday, October 31st. The pipeline company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. Shell Midstream Partners had a net margin of 101.89% and a negative return on equity of 104.00%. The company had revenue of $125.00 million during the quarter, compared to analysts’ expectations of $116.18 million. During the same period last year, the company posted $0.50 EPS. Shell Midstream Partners’s revenue was down 18.6% on a year-over-year basis. Equities analysts anticipate that Shell Midstream Partners will post 1.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a dividend of $0.445 per share. This is a boost from Shell Midstream Partners’s previous quarterly dividend of $0.43. This represents a $1.78 dividend on an annualized basis and a yield of 9.02%. The ex-dividend date of this dividend was Friday, November 1st.
Shell Midstream Partners Company Profile
Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream 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.
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