Shell Midstream Partners LP (NYSE:SHLX) Receives Average Recommendation of “Hold” from Analysts

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Shell Midstream Partners LP (NYSE:SHLX) has earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $23.50.

SHLX has been the topic of several research reports. ValuEngine cut Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Mizuho restated a “buy” rating and set a $12.00 price target on shares of Viewray in a report on Wednesday. Zacks Investment Research cut Tilray from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Credit Suisse Group initiated coverage on Luckin Coffee in a report on Tuesday, June 11th. They set an “outperform” rating and a $24.00 price target on the stock.

Shares of NYSE:SHLX traded down $0.39 during midday trading on Friday, hitting $21.11. 28,078 shares of the stock were exchanged, compared to its average volume of 488,940. The firm has a market cap of $4.74 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 4.88 and a beta of 1.03. The business’s 50-day simple moving average is $20.64. Shell Midstream Partners has a 12 month low of $15.86 and a 12 month high of $25.08.

Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings results on Thursday, May 2nd. The pipeline company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The company had revenue of $131.00 million for the quarter, compared to analysts’ expectations of $127.60 million. Shell Midstream Partners had a negative return on equity of 190.89% and a net margin of 95.68%. During the same period in the previous year, the business posted $0.18 earnings per share. Sell-side analysts expect that Shell Midstream Partners will post 1.74 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Adams Asset Advisors LLC purchased a new stake in Shell Midstream Partners in the 2nd quarter valued at $737,000. Cypress Wealth Advisors LLC bought a new position in Shell Midstream Partners in the 1st quarter valued at $981,000. GYL Financial Synergies LLC bought a new position in Shell Midstream Partners in the 1st quarter valued at $511,000. Monetary Management Group Inc. grew its stake in Shell Midstream Partners by 750.0% in the 1st quarter. Monetary Management Group Inc. now owns 6,800 shares of the pipeline company’s stock valued at $139,000 after purchasing an additional 6,000 shares during the period. Finally, Northeast Financial Consultants Inc grew its stake in Shell Midstream Partners by 52.7% in the 1st quarter. Northeast Financial Consultants Inc now owns 780,657 shares of the pipeline company’s stock valued at $15,964,000 after purchasing an additional 269,500 shares during the period. Institutional investors and hedge funds own 53.83% of the company’s stock.

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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Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

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