Shell Midstream Partners (NYSE:SHLX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Shell Midstream Partners, L.P. engages in owning, operating, developing and acquiring pipelines and other midstream assets. Its initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers. Shell Midstream Partners, L.P. is based in Houston, Texas. “
SHLX has been the subject of several other research reports. Bank of America lowered Shell Midstream Partners from a “neutral” rating to an “underperform” rating in a research report on Monday, December 10th. ValuEngine upgraded Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Thursday, December 13th. Morgan Stanley lowered their price target on Shell Midstream Partners from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, November 30th. UBS Group lowered their price target on Shell Midstream Partners from $37.00 to $36.00 and set a “buy” rating for the company in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. lowered Shell Midstream Partners from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $23.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Shell Midstream Partners currently has a consensus rating of “Hold” and a consensus target price of $25.65.
Shares of NYSE:SHLX opened at $19.11 on Friday. Shell Midstream Partners has a 1 year low of $15.86 and a 1 year high of $25.19. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 3.56 and a beta of 1.29.
Shell Midstream Partners (NYSE:SHLX) last announced its earnings results on Thursday, February 21st. The pipeline company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.04). Shell Midstream Partners had a net margin of 88.45% and a negative return on equity of 411.89%. The business had revenue of $142.30 million for the quarter, compared to analysts’ expectations of $146.32 million. During the same quarter last year, the firm earned $0.35 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts forecast that Shell Midstream Partners will post 1.78 EPS for the current fiscal year.
In other Shell Midstream Partners news, insider Shawn J. Carsten acquired 5,000 shares of Shell Midstream Partners stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average price of $18.16 per share, with a total value of $90,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of large investors have recently modified their holdings of SHLX. Bessemer Group Inc. acquired a new position in shares of Shell Midstream Partners during the fourth quarter worth $35,000. Lindbrook Capital LLC acquired a new position in shares of Shell Midstream Partners in the 4th quarter valued at $39,000. Penserra Capital Management LLC acquired a new position in shares of Shell Midstream Partners in the 4th quarter valued at $166,000. Advisors Asset Management Inc. acquired a new position in shares of Shell Midstream Partners in the 3rd quarter valued at $249,000. Finally, Evercore Wealth Management LLC acquired a new position in shares of Shell Midstream Partners in the 3rd quarter valued at $321,000. 54.04% of the stock is owned by institutional investors.
Shell Midstream Partners Company Profile
Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. Its crude oil pipeline systems include a 350 miles of Zydeco pipeline system; a 130-miles of delta pipeline; a 174-mile offshore Gulf of Mexico corridor pipeline; and a 75-mile offshore pipeline.
Further Reading: Net Margin
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