Zacks Investment Research lowered shares of Shell Midstream Partners LP (NYSE:SHLX) from a hold rating to a strong sell rating in a report issued on Tuesday, May 9th.
According to Zacks, “Shell Midstream Partners, L.P. engages in owning, operating, developing and acquiring pipelines and other midstream assets. Its initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers. Shell Midstream Partners, L.P. is based in Houston, Texas. “
A number of other brokerages have also weighed in on SHLX. Mizuho reaffirmed a buy rating and issued a $36.00 price target on shares of Shell Midstream Partners in a research note on Tuesday, February 28th. JPMorgan Chase & Co. assumed coverage on shares of Shell Midstream Partners in a research note on Wednesday, February 1st.
They issued an overweight rating and a $38.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $37.86.
Shares of Shell Midstream Partners (NYSE:SHLX) opened at 30.57 on Tuesday. Shell Midstream Partners has a 52-week low of $25.42 and a 52-week high of $35.17. The firm has a market capitalization of $5.42 billion, a P/E ratio of 23.72 and a beta of 1.25. The stock’s 50 day moving average is $31.99 and its 200-day moving average is $30.65.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings results on Friday, May 5th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $70.20 million during the quarter, compared to analyst estimates of $77.82 million. Shell Midstream Partners had a return on equity of 56.13% and a net margin of 77.39%.
Shares of Shell Midstream Partners (NYSE:SHLX) opened at 30.57 on Tuesday. Shell Midstream Partners has a 52-week low of $25.42 and a 52-week high of $35.17. The firm has a market capitalization of $5.42 billion, a P/E ratio of 23.72 and a beta of 1.25. The stock’s 50 day moving average is $31.99 and its 200-day moving average is $30.65.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings results on Friday, May 5th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $70.20 million during the quarter, compared to analyst estimates of $77.82 million. Shell Midstream Partners had a return on equity of 56.13% and a net margin of 77.39%.
The company’s revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. On average, equities analysts forecast that Shell Midstream Partners will post $1.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 12th. Stockholders of record on Monday, May 1st were issued a dividend of $0.291 per share. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.81%. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.28. Shell Midstream Partners’s payout ratio is currently 83.46%.
Several large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in Shell Midstream Partners by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock worth $149,000 after buying an additional 63 shares in the last quarter.
The company also recently declared a quarterly dividend, which was paid on Friday, May 12th. Stockholders of record on Monday, May 1st were issued a dividend of $0.291 per share. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.81%. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.28. Shell Midstream Partners’s payout ratio is currently 83.46%.
Several large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in Shell Midstream Partners by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock worth $149,000 after buying an additional 63 shares in the last quarter.
Good Life Advisors LLC purchased a new stake in Shell Midstream Partners during the fourth quarter worth about $211,000. BNP Paribas Arbitrage SA purchased a new stake in Shell Midstream Partners during the first quarter worth about $239,000. Linscomb & Williams Inc. raised its stake in Shell Midstream Partners by 30.3% in the fourth quarter. Linscomb & Williams Inc. now owns 9,084 shares of the pipeline company’s stock worth $264,000 after buying an additional 2,110 shares in the last quarter.
Finally, Proficio Capital Partners LLC raised its stake in Shell Midstream Partners by 37.6% in the first quarter. Proficio Capital Partners LLC now owns 8,516 shares of the pipeline company’s stock worth $266,000 after buying an additional 2,326 shares in the last quarter. Institutional investors and hedge funds own 81.00% of the company’s stock.
Shell Midstream Partners Company Profile
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.
Shell Midstream Partners Company Profile
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.
By: Michael Walen (The Markets Daily).
Photo: The Business Journals.
Review: Emerging Market Formulations & Research Unit, Flagship Records.
By: Michael Walen (The Markets Daily).
Photo: The Business Journals.
Review: Emerging Market Formulations & Research Unit, Flagship Records.