Shell Midstream Partners (NYSE:SHLX) had its price objective cut by UBS from $43.00 to $40.00 in a research report released on Friday, November 17th, www.benzinga.com reports. They currently have a buy rating on the pipeline company’s stock.
SHLX has been the subject of several other research reports. BidaskClub cut Shell Midstream Partners from a sell rating to a strong sell rating in a research note on Monday, July 31st. Zacks Investment Research lowered Shell Midstream Partners from a hold rating to a sell rating in a report on Thursday, October 12th. Royal Bank Of Canada reissued a buy rating and issued a $41.00 target price on shares of Shell Midstream Partners in a report on Monday, August 21st. Barclays decreased their price objective on Shell Midstream Partners from $32.00 to $30.00 and set an equal weight rating on the stock in a research note on Monday, November 6th. Finally, Morgan Stanley decreased their price objective on Shell Midstream Partners from $31.00 to $30.00 and set an equal weight rating on the stock in a research note on Friday, November 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $34.50.
Shell Midstream Partners (SHLX) traded down $0.64 during mid-day trading on Friday, reaching $26.60. The company had a trading volume of 407,012 shares, compared to its average volume of 367,917. The stock has a market capitalization of $5,034.45, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. Shell Midstream Partners has a 12-month low of $24.68 and a 12-month high of $34.17. The company has a debt-to-equity ratio of 42.36, a quick ratio of 3.36 and a current ratio of 3.36.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05). Shell Midstream Partners had a net margin of 85.14% and a return on equity of 3,826.80%. The firm had revenue of $94.40 million during the quarter, compared to analysts’ expectations of $86.36 million. During the same quarter in the prior year, the firm posted $0.28 EPS. Shell Midstream Partners’s quarterly revenue was up 39.0% compared to the same quarter last year. research analysts predict that Shell Midstream Partners will post 1.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 14th were paid a $0.318 dividend. The ex-dividend date was Monday, October 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 4.78%. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.30. Shell Midstream Partners’s dividend payout ratio (DPR) is 100.00%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC grew its stake in Shell Midstream Partners by 243.8% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 146,267 shares of the pipeline company’s stock valued at $4,072,000 after purchasing an additional 103,726 shares in the last quarter. Institutional & Family Asset Management LLC acquired a new stake in Shell Midstream Partners during the 3rd quarter valued at approximately $237,000. Tortoise Capital Advisors L.L.C. grew its stake in Shell Midstream Partners by 109.8% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 20,435,426 shares of the pipeline company’s stock valued at $568,922,000 after purchasing an additional 10,695,678 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Shell Midstream Partners by 53.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 188,275 shares of the pipeline company’s stock valued at $5,242,000 after purchasing an additional 65,321 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Shell Midstream Partners by 2,541.3% during the 3rd quarter. California Public Employees Retirement System now owns 198,100 shares of the pipeline company’s stock valued at $5,515,000 after purchasing an additional 190,600 shares in the last quarter. Hedge funds and other institutional investors own 53.20% of the company’s stock.
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About Shell Midstream Partners
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.
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