Shell Midstream Partners (NYSE:SHLX) PT Lowered to $22.00

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Shell Midstream Partners (NYSE:SHLX) had its price objective lowered by UBS Group from $24.00 to $22.00 in a research note released on Wednesday, BenzingaRatingsTable reports. The firm currently has a buy rating on the pipeline company’s stock.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Shell Midstream Partners from a sell rating to a hold rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. cut Shell Midstream Partners from a neutral rating to an underweight rating and lowered their price objective for the stock from $23.00 to $22.00 in a research report on Tuesday, August 20th. Mizuho cut Shell Midstream Partners from a neutral rating to an underperform rating and lowered their price objective for the stock from $22.00 to $19.00 in a research report on Wednesday, July 17th. Finally, Credit Suisse Group cut Shell Midstream Partners from a neutral rating to an underperform rating and lowered their price objective for the stock from $22.00 to $17.00 in a research report on Tuesday, June 11th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $21.57.

SHLX stock opened at $20.71 on Wednesday. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 14.00 and a beta of 1.05. The business’s fifty day moving average price is $20.24 and its two-hundred day moving average price is $20.30. Shell Midstream Partners has a fifty-two week low of $15.86 and a fifty-two week high of $22.40.

Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The firm had revenue of $121.00 million for the quarter, compared to the consensus estimate of $119.43 million. Shell Midstream Partners had a negative return on equity of 137.43% and a net margin of 97.92%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. Equities research analysts expect that Shell Midstream Partners will post 1.41 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. GYL Financial Synergies LLC acquired a new stake in shares of Shell Midstream Partners during the 1st quarter worth $511,000. Russell Investments Group Ltd. grew its holdings in shares of Shell Midstream Partners by 54.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 324,400 shares of the pipeline company’s stock worth $6,722,000 after purchasing an additional 115,000 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Shell Midstream Partners by 47.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 34,902 shares of the pipeline company’s stock worth $723,000 after purchasing an additional 11,277 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Shell Midstream Partners by 47.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 88,072 shares of the pipeline company’s stock worth $1,825,000 after purchasing an additional 28,232 shares in the last quarter. Finally, Eagle Global Advisors LLC acquired a new stake in shares of Shell Midstream Partners during the 2nd quarter worth $392,000. Hedge funds and other institutional investors own 53.81% 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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