Credit Suisse Group cut shares of Shell Midstream Partners (NYSE:SHLX) from a neutral rating to an underperform rating in a research note released on Tuesday, BenzingaRatingsTable reports. They currently have $17.00 target price on the pipeline company’s stock, down from their previous target price of $22.00.
SHLX has been the subject of a number of other research reports. Zacks Investment Research upgraded Shell Midstream Partners from a strong sell rating to a hold rating in a report on Friday, March 15th. JPMorgan Chase & Co. lowered Shell Midstream Partners from an overweight rating to a neutral rating and lowered their price target for the company from $25.00 to $23.00 in a report on Wednesday, March 13th. ValuEngine upgraded Shell Midstream Partners from a strong sell rating to a sell rating in a report on Wednesday, March 20th. UBS Group lowered their price target on Shell Midstream Partners from $37.00 to $36.00 and set a buy rating for the company in a report on Monday, March 4th. Finally, Mizuho assumed coverage on Shell Midstream Partners in a report on Wednesday, June 5th. They issued a neutral rating and a $22.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $24.00.
Shares of NYSE SHLX opened at $19.87 on Tuesday. The company has a market capitalization of $4.55 billion, a P/E ratio of 11.48, a PEG ratio of 4.68 and a beta of 1.09. Shell Midstream Partners has a 52-week low of $15.86 and a 52-week high of $25.08.
Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings results on Thursday, May 2nd. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $131.00 million during the quarter, compared to analyst estimates of $127.60 million. Shell Midstream Partners had a negative return on equity of 190.89% and a net margin of 95.68%. During the same quarter in the previous year, the business earned $0.18 earnings per share. As a group, research analysts expect that Shell Midstream Partners will post 1.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were issued a dividend of $0.415 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.66 dividend on an annualized basis and a yield of 8.35%. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.40.
A number of institutional investors have recently bought and sold shares of the business. GYL Financial Synergies LLC purchased a new stake in Shell Midstream Partners during the first quarter worth $511,000. Cypress Wealth Advisors LLC purchased a new stake in Shell Midstream Partners during the first quarter worth $981,000. Jane Street Group LLC purchased a new stake in Shell Midstream Partners during the first quarter worth $663,000. HighTower Advisors LLC lifted its holdings in Shell Midstream Partners by 92.4% during the first quarter. HighTower Advisors LLC now owns 183,021 shares of the pipeline company’s stock worth $3,746,000 after buying an additional 87,919 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in Shell Midstream Partners by 112.7% during the first quarter. Advisors Asset Management Inc. now owns 47,394 shares of the pipeline company’s stock worth $969,000 after buying an additional 25,112 shares during the period. Institutional investors own 53.85% 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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