Shares of Shell Midstream Partners LP (NYSE:SHLX) hit a new 52-week low during trading on Thursday . The stock traded as low as $21.30 and last traded at $21.25, with a volume of 1115796 shares trading hands. The stock had previously closed at $22.18.
SHLX has been the topic of several recent analyst reports. Stifel Nicolaus downgraded shares of Shell Midstream Partners from a “buy” rating to a “hold” rating and increased their price objective for the company from $30.00 to $31.00 in a research report on Wednesday, January 17th. UBS reissued a “buy” rating and set a $38.00 price objective (down from $40.00) on shares of Shell Midstream Partners in a research report on Friday, March 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Shell Midstream Partners in a research report on Friday, February 2nd. Zacks Investment Research downgraded shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $31.00 price objective (down from $32.00) on shares of Shell Midstream Partners in a research report on Tuesday, March 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $31.71.
The firm has a market cap of $5,015.60, a PE ratio of 16.50, a P/E/G ratio of 1.46 and a beta of 1.15. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of -3.30.
Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings data on Tuesday, February 27th. The pipeline company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.03. The company had revenue of $127.00 million for the quarter, compared to the consensus estimate of $96.23 million. Shell Midstream Partners had a net margin of 78.08% and a negative return on equity of 179.87%. During the same period in the prior year, the firm posted $0.34 EPS. sell-side analysts expect that Shell Midstream Partners LP will post 1.54 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in SHLX. The Manufacturers Life Insurance Company raised its position in shares of Shell Midstream Partners by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock valued at $172,000 after buying an additional 398 shares during the last quarter. RiverPoint Capital Management LLC grew its holdings in shares of Shell Midstream Partners by 31.3% in the fourth quarter. RiverPoint Capital Management LLC now owns 12,600 shares of the pipeline company’s stock valued at $376,000 after purchasing an additional 3,000 shares in the last quarter. Balentine LLC boosted its stake in Shell Midstream Partners by 63.7% during the third quarter. Balentine LLC now owns 7,763 shares of the pipeline company’s stock worth $216,000 after buying an additional 3,021 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Shell Midstream Partners by 10.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 32,473 shares of the pipeline company’s stock worth $904,000 after buying an additional 3,139 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Shell Midstream Partners by 3.9% during the third quarter. SG Americas Securities LLC now owns 92,511 shares of the pipeline company’s stock worth $2,576,000 after buying an additional 3,479 shares during the period. 44.87% of the stock is currently owned by hedge funds and other institutional investors.
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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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