Shell Midstream Partners LP (NYSE:SHLX)‘s stock had its “buy” rating restated by analysts at UBS AG in a research report issued to clients and investors on Tuesday. They presently have a $47.00 price objective on the stock, down from their previous price objective of $49.00. UBS AG’s price objective points to a potential upside of 78.84% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Mizuho assumed coverage on shares of Shell Midstream Partners in a report on Thursday, September 29th. They set a “buy” rating and a $37.00 target price on the stock. Stifel Nicolaus assumed coverage on shares of Shell Midstream Partners in a report on Thursday, August 18th. They set a “buy” rating and a $35.00 target price on the stock. Zacks Investment Research raised shares of Shell Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, Barclays PLC reduced their target price on shares of Shell Midstream Partners from $51.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $39.44.

Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

Shares of Shell Midstream Partners (NYSE:SHLX) opened at 26.28 on Tuesday. Shell Midstream Partners has a 52 week low of $25.46 and a 52 week high of $42.29. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 18.30 and a beta of 1.21. The firm has a 50-day moving average of $29.12 and a 200 day moving average of $31.89.

Shell Midstream Partners (NYSE:SHLX) last posted its earnings results on Thursday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.09. Shell Midstream Partners had a return on equity of 56.13% and a net margin of 77.39%. The business had revenue of $67.90 million for the quarter, compared to the consensus estimate of $78.62 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The company’s revenue was down 4.5% compared to the same quarter last year. On average, equities analysts predict that Shell Midstream Partners will post $1.43 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 31st will be paid a dividend of $0.264 per share. The ex-dividend date of this dividend is Thursday, October 27th. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 4.02%. Shell Midstream Partners’s dividend payout ratio is currently 78.95%.

A number of hedge funds and other institutional investors have recently modified their holdings of SHLX. Balentine LLC bought a new position in shares of Shell Midstream Partners during the second quarter valued at about $156,000. Quantbot Technologies LP raised its position in shares of Shell Midstream Partners by 55.2% in the second quarter. Quantbot Technologies LP now owns 5,570 shares of the company’s stock valued at $188,000 after buying an additional 1,981 shares in the last quarter. M&T Bank Corp raised its position in shares of Shell Midstream Partners by 16.0% in the first quarter. M&T Bank Corp now owns 6,252 shares of the company’s stock valued at $229,000 after buying an additional 861 shares in the last quarter. Linscomb & Williams Inc. raised its position in shares of Shell Midstream Partners by 3.3% in the second quarter. Linscomb & Williams Inc. now owns 6,417 shares of the company’s stock valued at $217,000 after buying an additional 206 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Shell Midstream Partners by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 6,712 shares of the company’s stock valued at $227,000 after buying an additional 180 shares in the last quarter. 80.94% of the stock is currently owned by institutional investors and hedge funds.

About Shell Midstream Partners

Shell Midstream Partners, L.P. is a master limited partnership company formed to own, operate, develop and acquire pipelines and other midstream assets. The Company has interests in approximately four crude oil pipeline systems, approximately two refined products systems and a crude tank storage and terminal system.

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