Shell Midstream Partners, L.P. (NYSE:SHLX) Given Consensus Recommendation of “Hold” by Analysts

Shell Midstream Partners, L.P. (NYSE:SHLXGet Rating) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $13.75.

Separately, Mizuho upped their price target on Shell Midstream Partners from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, August 1st.

Institutional Trading of Shell Midstream Partners

Several institutional investors have recently made changes to their positions in SHLX. Bank of America Corp DE grew its position in shares of Shell Midstream Partners by 38.3% during the fourth quarter. Bank of America Corp DE now owns 617,466 shares of the pipeline company’s stock worth $7,113,000 after purchasing an additional 171,002 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Shell Midstream Partners by 188.3% during the fourth quarter. HighTower Advisors LLC now owns 135,158 shares of the pipeline company’s stock worth $1,556,000 after purchasing an additional 88,279 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Shell Midstream Partners by 10.4% during the fourth quarter. Teacher Retirement System of Texas now owns 26,020 shares of the pipeline company’s stock worth $300,000 after purchasing an additional 2,445 shares in the last quarter. Bank of Montreal Can grew its position in shares of Shell Midstream Partners by 236.1% during the fourth quarter. Bank of Montreal Can now owns 968,400 shares of the pipeline company’s stock worth $11,098,000 after purchasing an additional 680,300 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Shell Midstream Partners by 2,667.8% during the fourth quarter. Invesco Ltd. now owns 1,100,000 shares of the pipeline company’s stock worth $12,672,000 after purchasing an additional 1,060,257 shares in the last quarter.

Shell Midstream Partners Stock Down 0.2 %

SHLX stock opened at $15.80 on Tuesday. Shell Midstream Partners has a fifty-two week low of $10.76 and a fifty-two week high of $16.08. The business’s 50-day moving average is $15.51 and its two-hundred day moving average is $14.59. The company has a debt-to-equity ratio of 3.74, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 13.06 and a beta of 1.32.

Shell Midstream Partners (NYSE:SHLXGet Rating) last posted its earnings results on Thursday, July 28th. The pipeline company reported $0.33 earnings per share for the quarter. The company had revenue of $149.00 million for the quarter, compared to the consensus estimate of $132.81 million. Shell Midstream Partners had a return on equity of 98.64% and a net margin of 97.11%. Shell Midstream Partners’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. As a group, analysts forecast that Shell Midstream Partners will post 1.52 earnings per share for the current year.

Shell Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Tuesday, August 2nd were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.59%. The ex-dividend date was Monday, August 1st. Shell Midstream Partners’s payout ratio is 99.17%.

About Shell Midstream Partners

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Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream, and logistics 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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