BidaskClub Lowers Shell Midstream Partners, L.P. (SHLX) to Strong Sell

BidaskClub downgraded shares of Shell Midstream Partners, L.P. (NYSE:SHLX) from a sell rating to a strong sell rating in a research note published on Thursday.

SHLX has been the topic of several other research reports. Zacks Investment Research upgraded shares of Shell Midstream Partners, L.P. from a strong sell rating to a hold rating in a research note on Wednesday, May 3rd. Mizuho reiterated a buy rating and issued a $36.00 price target on shares of Shell Midstream Partners, L.P. in a research note on Tuesday, February 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $37.67.

Shares of Shell Midstream Partners, L.P. (NYSE SHLX) traded down 1.00% during midday trading on Thursday, hitting $28.58. The company had a trading volume of 79,215 shares. Shell Midstream Partners, L.P. has a 1-year low of $25.42 and a 1-year high of $34.25. The firm has a market capitalization of $5.07 billion, a P/E ratio of 22.17 and a beta of 1.20. The stock has a 50 day moving average price of $30.62 and a 200 day moving average price of $31.03.

Shell Midstream Partners, L.P. (NYSE:SHLX) last issued its earnings results on Friday, May 5th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.02. The firm had revenue of $70.20 million during the quarter, compared to the consensus estimate of $77.82 million. Shell Midstream Partners, L.P. had a return on equity of 99.20% and a net margin of 91.43%. The company’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. On average, equities analysts anticipate that Shell Midstream Partners, L.P. will post $1.47 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in SHLX. Envestnet Asset Management Inc. boosted its stake 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 valued at $149,000 after buying an additional 63 shares during the last quarter. BNP Paribas Arbitrage SA bought a new stake in shares of Shell Midstream Partners, L.P. during the first quarter valued at approximately $239,000. Proficio Capital Partners LLC boosted its stake in shares of Shell Midstream Partners, L.P. by 37.6% in the first quarter. Proficio Capital Partners LLC now owns 8,516 shares of the pipeline company’s stock valued at $266,000 after buying an additional 2,326 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Shell Midstream Partners, L.P. by 39.5% in the first quarter. Bank of New York Mellon Corp now owns 10,117 shares of the pipeline company’s stock valued at $326,000 after buying an additional 2,864 shares during the last quarter. Finally, Country Club Trust Company n.a. boosted its stake in shares of Shell Midstream Partners, L.P. by 1.3% in the first quarter. Country Club Trust Company n.a. now owns 10,606 shares of the pipeline company’s stock valued at $342,000 after buying an additional 141 shares during the last quarter. Institutional investors and hedge funds own 49.86% of the company’s stock.

Shell Midstream Partners, L.P. Company Profile

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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