Shell Midstream Partners LP (NYSE:SHLX) had its price target dropped by research analysts at RBC Capital Markets from $47.00 to $41.00 in a research note issued to investors on Wednesday. The firm currently has an “outperform” rating on the stock. RBC Capital Markets’ price objective would indicate a potential upside of 55.72% from the company’s previous close.

SHLX has been the topic of several other research reports. Stifel Nicolaus began coverage on Shell Midstream Partners in a research report on Thursday, August 18th. They issued a “buy” rating and a $35.00 price objective on the stock. Mizuho began coverage on Shell Midstream Partners in a research report on Thursday, September 29th. They issued a “buy” rating and a $37.00 price objective on the stock. Barclays PLC cut their price objective on Shell Midstream Partners from $51.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Royal Bank Of Canada cut their price objective on Shell Midstream Partners from $47.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, UBS AG reaffirmed a “buy” rating and issued a $47.00 price objective (down previously from $49.00) on shares of Shell Midstream Partners in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.44.

Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

Shell Midstream Partners (NYSE:SHLX) opened at 26.33 on Wednesday. The company has a market capitalization of $4.67 billion, a P/E ratio of 18.34 and a beta of 1.21. Shell Midstream Partners has a one year low of $25.46 and a one year high of $42.29. The stock’s 50 day moving average price is $29.02 and its 200 day moving average price is $31.85.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be issued a $0.264 dividend. This represents a $1.06 annualized dividend and a dividend yield of 4.01%. This is a boost from Shell Midstream Partners’s previous quarterly dividend of $0.25. The ex-dividend date is Thursday, October 27th. Shell Midstream Partners’s dividend payout ratio is currently 78.95%.

Several large investors have recently modified their holdings of the company. Franklin Resources Inc. bought a new stake in shares of Shell Midstream Partners during the first quarter worth $476,000. M&T Bank Corp boosted its stake 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 worth $229,000 after buying an additional 861 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of Shell Midstream Partners during the first quarter worth $1,802,000. Nuveen Asset Management LLC boosted its stake in shares of Shell Midstream Partners by 404.6% in the first quarter. Nuveen Asset Management LLC now owns 412,835 shares of the company’s stock worth $15,114,000 after buying an additional 331,019 shares during the period. Finally, FFT Wealth Management LLC boosted its stake in shares of Shell Midstream Partners by 91.0% in the first quarter. FFT Wealth Management LLC now owns 18,153 shares of the company’s stock worth $665,000 after buying an additional 8,650 shares during the period. Hedge funds and other institutional investors own 80.94% of the company’s stock.

Shell Midstream Partners Company Profile

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.

5 Day Chart for NYSE:SHLX

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