Shell Midstream Partners (NYSE:SHLX) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of Shell Midstream Partners (NYSE:SHLX) from a strong sell rating to a sell rating in a research note released on Tuesday morning, ValuEngine reports.

A number of other equities analysts have also recently issued reports on the company. Barclays set a $21.00 price target on Shell Midstream Partners and gave the stock a hold rating in a report on Tuesday, October 15th. UBS Group lowered their price objective on shares of Shell Midstream Partners from $24.00 to $22.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Zacks Investment Research downgraded shares of Shell Midstream Partners from a strong-buy rating to a hold rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered shares of Shell Midstream Partners from a neutral rating to an underweight rating and cut their target price for the stock from $23.00 to $22.00 in a research note on Tuesday, August 20th. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $20.67.

Shell Midstream Partners stock traded up $0.25 during trading hours on Tuesday, reaching $19.73. 29,579 shares of the company’s stock were exchanged, compared to its average volume of 725,029. The firm’s 50 day simple moving average is $20.26 and its 200 day simple moving average is $20.53. Shell Midstream Partners has a twelve month low of $15.86 and a twelve month high of $21.99. The firm has a market capitalization of $4.63 billion, a PE ratio of 11.23, a PEG ratio of 11.50 and a beta of 1.03.

Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings data on Thursday, October 31st. The pipeline company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $125.00 million for the quarter, compared to the consensus estimate of $116.18 million. Shell Midstream Partners had a negative return on equity of 104.00% and a net margin of 101.89%. The firm’s revenue was down 18.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. On average, research analysts expect that Shell Midstream Partners will post 1.71 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 9.02%. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, November 1st.

A number of hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. grew its stake in Shell Midstream Partners by 37.8% in the third quarter. Alps Advisors Inc. now owns 14,909,405 shares of the pipeline company’s stock valued at $304,897,000 after acquiring an additional 4,086,167 shares during the period. Kayne Anderson Capital Advisors LP grew its position in Shell Midstream Partners by 5.8% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 10,270,755 shares of the pipeline company’s stock valued at $212,800,000 after purchasing an additional 562,500 shares during the period. Invesco Ltd. increased its stake in Shell Midstream Partners by 6,252.9% during the 2nd quarter. Invesco Ltd. now owns 5,812,979 shares of the pipeline company’s stock valued at $120,445,000 after purchasing an additional 5,721,478 shares in the last quarter. Energy Income Partners LLC increased its stake in Shell Midstream Partners by 7.9% during the 2nd quarter. Energy Income Partners LLC now owns 3,893,517 shares of the pipeline company’s stock valued at $80,674,000 after purchasing an additional 286,408 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Shell Midstream Partners by 1.1% during the second quarter. Bank of Montreal Can now owns 1,120,944 shares of the pipeline company’s stock worth $23,226,000 after buying an additional 11,658 shares during the last quarter. 50.55% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

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