Shell Midstream Partners (SHLX) Given a $30.00 Price Target by Stifel Nicolaus Analysts
Stifel Nicolaus set a $30.00 target price on Shell Midstream Partners (NYSE:SHLX) in a research note issued to investors on Thursday morning. The brokerage currently has a buy rating on the pipeline company’s stock.
A number of other research firms have also weighed in on SHLX. BidaskClub raised shares of Shell Midstream Partners from a sell rating to a hold rating in a research note on Friday, September 8th. Zacks Investment Research lowered shares of Shell Midstream Partners from a hold rating to a sell rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a buy rating and issued a $41.00 price objective on shares of Shell Midstream Partners in a research note on Wednesday, September 27th. Finally, Barclays lowered their price objective on shares of Shell Midstream Partners from $32.00 to $30.00 and set an equal weight rating for the company in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $34.50.
Shares of Shell Midstream Partners (SHLX) traded up $0.69 on Thursday, hitting $27.74. 636,889 shares of the stock were exchanged, compared to its average volume of 366,784. The stock has a market capitalization of $4,758.41, a price-to-earnings ratio of 19.95, a P/E/G ratio of 1.55 and a beta of 1.12. Shell Midstream Partners has a 1 year low of $24.68 and a 1 year high of $34.17. The company has a debt-to-equity ratio of 42.36, a current ratio of 3.36 and a quick ratio of 3.36.
Shell Midstream Partners (NYSE:SHLX) last issued its earnings results on Friday, November 3rd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05). The company had revenue of $94.40 million for the quarter, compared to analysts’ expectations of $86.36 million. Shell Midstream Partners had a net margin of 85.14% and a return on equity of 3,826.80%. The firm’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. equities analysts forecast that Shell Midstream Partners will post 1.26 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 14th were issued a $0.318 dividend. The ex-dividend date of this dividend was Monday, October 30th. This is an increase from Shell Midstream Partners’s previous quarterly dividend of $0.30. This represents a $1.27 dividend on an annualized basis and a yield of 4.59%. Shell Midstream Partners’s payout ratio is currently 100.00%.
A number of institutional investors have recently made changes to their positions in SHLX. Cedar Wealth Management LLC increased its holdings in shares of Shell Midstream Partners by 129.4% during the third quarter. Cedar Wealth Management LLC now owns 5,230 shares of the pipeline company’s stock valued at $146,000 after acquiring an additional 2,950 shares in the last quarter. Saratoga Research & Investment Management acquired a new position in shares of Shell Midstream Partners during the third quarter valued at about $146,000. The Manufacturers Life Insurance Company increased its holdings in shares of Shell Midstream Partners by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock valued at $172,000 after acquiring an additional 398 shares in the last quarter. Balentine LLC increased its holdings in shares of Shell Midstream Partners by 63.7% during the third quarter. Balentine LLC now owns 7,763 shares of the pipeline company’s stock valued at $216,000 after acquiring an additional 3,021 shares in the last quarter. Finally, Institutional & Family Asset Management LLC acquired a new position in shares of Shell Midstream Partners during the third quarter valued at about $237,000. Institutional investors and hedge funds own 53.14% of the company’s stock.
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Shell Midstream Partners 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.
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