JPMorgan Chase & Co. cut shares of Shell Midstream Partners (NYSE:SHLX) from an overweight rating to a neutral rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have $23.00 price target on the pipeline company’s stock, down from their prior price target of $25.00.

Several other brokerages also recently commented on SHLX. ValuEngine upgraded Shell Midstream Partners from a strong sell rating to a sell rating in a research report on Thursday, December 13th. Bank of America downgraded Shell Midstream Partners from a neutral rating to an underperform rating in a research report on Monday, December 10th. Morgan Stanley lowered their price objective on Shell Midstream Partners from $27.00 to $25.00 and set an equal weight rating on the stock in a research report on Friday, November 30th. Zacks Investment Research downgraded Shell Midstream Partners from a buy rating to a hold rating in a research report on Wednesday, February 6th. Finally, UBS Group lowered their price objective on Shell Midstream Partners from $37.00 to $36.00 and set a buy rating on the stock in a research report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $25.65.

NYSE SHLX opened at $19.24 on Wednesday. The firm has a market cap of $4.31 billion, a P/E ratio of 12.85, a P/E/G ratio of 3.56 and a beta of 1.29. Shell Midstream Partners has a fifty-two week low of $15.86 and a fifty-two week high of $25.08.

Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings data on Thursday, February 21st. The pipeline company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.04). Shell Midstream Partners had a net margin of 88.45% and a negative return on equity of 411.89%. The business had revenue of $142.30 million during the quarter, compared to analysts’ expectations of $146.32 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Shell Midstream Partners’s revenue was up 12.2% on a year-over-year basis. As a group, equities analysts anticipate that Shell Midstream Partners will post 1.78 EPS for the current fiscal year.

In other news, insider Shawn J. Carsten bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average cost of $18.16 per share, for a total transaction of $90,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. increased its stake in Shell Midstream Partners by 10.7% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 20,772,749 shares of the pipeline company’s stock worth $340,881,000 after acquiring an additional 2,005,785 shares during the last quarter. Alps Advisors Inc. increased its stake in Shell Midstream Partners by 12.6% during the fourth quarter. Alps Advisors Inc. now owns 12,317,939 shares of the pipeline company’s stock worth $202,137,000 after acquiring an additional 1,375,302 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in Shell Midstream Partners by 1.0% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 9,111,103 shares of the pipeline company’s stock worth $149,497,000 after acquiring an additional 89,650 shares during the last quarter. Advisory Research Inc. increased its stake in Shell Midstream Partners by 8.6% during the third quarter. Advisory Research Inc. now owns 4,420,728 shares of the pipeline company’s stock worth $94,515,000 after acquiring an additional 349,010 shares during the last quarter. Finally, Energy Income Partners LLC increased its stake in Shell Midstream Partners by 11.9% during the fourth quarter. Energy Income Partners LLC now owns 3,389,385 shares of the pipeline company’s stock worth $55,620,000 after acquiring an additional 360,919 shares during the last quarter. 54.04% of the stock is currently owned by institutional investors.

About Shell Midstream Partners

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.

Recommended Story: Why investors pay attention to retained earnings

Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

Receive News & Ratings for Shell Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shell Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.