Analysts Set Shell Midstream Partners LP (SHLX) PT at $25.00

Shell Midstream Partners LP (NYSE:SHLX) has been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $25.00.

A number of brokerages have weighed in on SHLX. ValuEngine raised shares of Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 20th. Zacks Investment Research cut shares of Shell Midstream Partners from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. JPMorgan Chase & Co. cut shares of Shell Midstream Partners from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $23.00 in a report on Wednesday, March 13th. Finally, UBS Group dropped their target price on shares of Shell Midstream Partners from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, March 4th.

Shares of NYSE:SHLX opened at $21.76 on Thursday. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 4.84 and a beta of 1.28. Shell Midstream Partners has a 1-year low of $15.86 and a 1-year high of $25.08.

Shell Midstream Partners (NYSE:SHLX) last issued its earnings results on Thursday, May 2nd. The pipeline company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. The company had revenue of $131.00 million for the quarter, compared to analysts’ expectations of $127.60 million. Shell Midstream Partners had a net margin of 95.68% and a negative return on equity of 190.89%. During the same period in the prior year, the company earned $0.18 earnings per share. Sell-side analysts anticipate that Shell Midstream Partners will post 1.78 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were given a dividend of $0.415 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.66 annualized dividend and a dividend yield of 7.63%. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.40.

In other news, insider Shawn J. Carsten purchased 5,000 shares of the stock in a transaction dated Friday, March 1st. The stock was acquired at an average price of $18.16 per share, for a total transaction of $90,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Several institutional investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its position in shares of Shell Midstream Partners by 0.6% during the first quarter. Chicago Partners Investment Group LLC now owns 94,137 shares of the pipeline company’s stock worth $1,922,000 after acquiring an additional 600 shares during the last quarter. Penserra Capital Management LLC grew its position in shares of Shell Midstream Partners by 9.0% during the first quarter. Penserra Capital Management LLC now owns 11,090 shares of the pipeline company’s stock worth $226,000 after acquiring an additional 920 shares during the last quarter. Icon Wealth Partners LLC grew its position in shares of Shell Midstream Partners by 10.0% during the first quarter. Icon Wealth Partners LLC now owns 10,904 shares of the pipeline company’s stock worth $223,000 after acquiring an additional 987 shares during the last quarter. Conning Inc. grew its position in shares of Shell Midstream Partners by 1.1% during the first quarter. Conning Inc. now owns 89,084 shares of the pipeline company’s stock worth $1,822,000 after acquiring an additional 1,006 shares during the last quarter. Finally, Virtus ETF Advisers LLC grew its position in shares of Shell Midstream Partners by 0.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 137,490 shares of the pipeline company’s stock worth $2,256,000 after acquiring an additional 1,014 shares during the last quarter. Institutional investors and hedge funds own 54.01% of the company’s stock.

About Shell Midstream Partners

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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Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

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