Shell Midstream Partners (SHLX) PT Raised to $26.00 at Stifel Nicolaus

Shell Midstream Partners (NYSE:SHLX) had its price target upped by analysts at Stifel Nicolaus from $25.00 to $26.00 in a note issued to investors on Wednesday, MarketBeat reports. The firm currently has a “hold” rating on the pipeline company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 8.11% from the company’s previous close.

SHLX has been the subject of a number of other reports. ValuEngine cut Shell Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Royal Bank of Canada cut their price target on Shell Midstream Partners to $30.00 and set an “outperform” rating for the company in a report on Monday, May 7th. Zacks Investment Research cut Shell Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. UBS reissued a “buy” rating and issued a $38.00 price target (down from $40.00) on shares of Shell Midstream Partners in a report on Friday, March 2nd. Finally, Barclays set a $29.00 price target on Shell Midstream Partners and gave the stock a “hold” rating in a report on Monday, April 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.50.

NYSE SHLX opened at $24.05 on Wednesday. Shell Midstream Partners has a fifty-two week low of $23.58 and a fifty-two week high of $23.75. The firm has a market capitalization of $5.29 billion, a PE ratio of 18.79, a P/E/G ratio of 3.45 and a beta of 1.23. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 2.18.

Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings results on Thursday, May 3rd. The pipeline company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.02. Shell Midstream Partners had a negative return on equity of 300.60% and a net margin of 70.78%. The company had revenue of $99.60 million during the quarter, compared to analysts’ expectations of $101.76 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was up 41.9% compared to the same quarter last year. research analysts predict that Shell Midstream Partners will post 1.27 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Infrastructure Capital Advisors LLC increased its stake in Shell Midstream Partners by 10.4% in the first quarter. Infrastructure Capital Advisors LLC now owns 25,902 shares of the pipeline company’s stock valued at $545,000 after purchasing an additional 2,446 shares during the last quarter. RiverPoint Capital Management LLC increased its stake in 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 during the last quarter. Icon Wealth Partners LLC increased its stake in Shell Midstream Partners by 22.2% in the first quarter. Icon Wealth Partners LLC now owns 16,923 shares of the pipeline company’s stock valued at $356,000 after purchasing an additional 3,069 shares during the last quarter. Advisory Research Inc. increased its stake in Shell Midstream Partners by 2.5% in the fourth quarter. Advisory Research Inc. now owns 202,530 shares of the pipeline company’s stock valued at $6,039,000 after purchasing an additional 4,845 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. acquired a new position in Shell Midstream Partners in the fourth quarter valued at $152,000. Hedge funds and other institutional investors own 48.32% 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. 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.

Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

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