Shell Midstream Partners (NYSE:SHLX)‘s stock had its “overweight” rating reiterated by equities researchers at JPMorgan Chase & Co. in a research report issued on Tuesday. They currently have a $31.00 price target on the pipeline company’s stock, down from their prior price target of $32.00. JPMorgan Chase & Co.’s target price suggests a potential upside of 23.31% from the company’s current price.

SHLX has been the subject of a number of other research reports. Citigroup reiterated a “buy” rating and issued a $32.00 target price (down previously from $36.50) on shares of Shell Midstream Partners in a research note on Monday, November 20th. UBS Group cut their target price on shares of Shell Midstream Partners from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Morgan Stanley dropped their price objective on shares of Shell Midstream Partners from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. Stifel Nicolaus cut shares of Shell Midstream Partners from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $30.00 to $31.00 in a research report on Wednesday, January 17th. Finally, Barclays dropped their price objective on shares of Shell Midstream Partners from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.71.

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Shell Midstream Partners (SHLX) traded down $0.26 during trading hours on Tuesday, hitting $25.14. 150,983 shares of the stock were exchanged, compared to its average volume of 1,063,591. Shell Midstream Partners has a 52 week low of $23.87 and a 52 week high of $33.34. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of -3.30. The company has a market capitalization of $5,736.30, a PE ratio of 19.84, a P/E/G ratio of 1.69 and a beta of 1.15.

Shell Midstream Partners (NYSE:SHLX) last posted its earnings results on Tuesday, February 27th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Shell Midstream Partners had a net margin of 78.08% and a negative return on equity of 179.87%. The company had revenue of $127.00 million during the quarter, compared to analysts’ expectations of $96.23 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. analysts anticipate that Shell Midstream Partners will post 1.52 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Stuart Chaussee & Associates Inc. bought a new position in Shell Midstream Partners in the 4th quarter worth approximately $152,000. The Manufacturers Life Insurance Company raised its position in Shell Midstream Partners by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after purchasing an additional 398 shares during the last quarter. Balentine LLC raised its position in Shell Midstream Partners by 63.7% in the 3rd quarter. Balentine LLC now owns 7,763 shares of the pipeline company’s stock worth $216,000 after purchasing an additional 3,021 shares during the last quarter. Creative Planning bought a new position in Shell Midstream Partners in the 4th quarter worth approximately $235,000. Finally, Jane Street Group LLC acquired a new stake in Shell Midstream Partners during the 4th quarter worth $247,000. Hedge funds and other institutional investors own 45.00% of the company’s stock.

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About Shell Midstream Partners

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.

Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

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