Shell Midstream Partners’ (SHLX) Equal Weight Rating Reiterated at Barclays PLC
Barclays PLC reiterated their equal weight rating on shares of Shell Midstream Partners LP (NYSE:SHLX) in a research report sent to investors on Wednesday morning. Barclays PLC currently has a $29.00 target price on the stock, down from their prior target price of $39.00.
Several other equities research analysts have also weighed in on SHLX. Zacks Investment Research lowered Shell Midstream Partners from a hold rating to a sell rating in a research report on Wednesday, July 13th. Stifel Nicolaus began coverage on Shell Midstream Partners in a research report on Thursday, August 18th. They set a buy rating and a $35.00 price target on the stock. Mizuho began coverage on Shell Midstream Partners in a report on Thursday, September 29th. They issued a buy rating and a $37.00 target price on the stock. Finally, UBS AG reissued a buy rating and issued a $47.00 target price (down from $49.00) on shares of Shell Midstream Partners in a report on Tuesday, November 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $39.44.
Shares of Shell Midstream Partners (NYSE:SHLX) opened at 25.91 on Wednesday. The stock’s 50 day moving average price is $28.89 and its 200 day moving average price is $31.77. Shell Midstream Partners has a 12 month low of $25.46 and a 12 month high of $42.29. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 18.04 and a beta of 1.21.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings data 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. The business earned $67.90 million during the quarter, compared to the consensus estimate of $78.62 million. Shell Midstream Partners had a return on equity of 56.13% and a net margin of 77.39%. Shell Midstream Partners’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. Analysts expect that Shell Midstream Partners will post $1.40 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 31st will be paid a $0.264 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.06 annualized dividend and a dividend yield of 4.08%. This is a boost from Shell Midstream Partners’s previous quarterly dividend of $0.25. Shell Midstream Partners’s payout ratio is currently 78.95%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bollard Group LLC boosted its position in Shell Midstream Partners by 0.7% in the second quarter. Bollard Group LLC now owns 8,238 shares of the company’s stock valued at $278,000 after buying an additional 55 shares in the last quarter. Partnervest Advisory Services LLC boosted its stake in Shell Midstream Partners by 0.7% in the second quarter. Partnervest Advisory Services LLC now owns 12,316 shares of the company’s stock worth $416,000 after buying an additional 84 shares during the period. Paragon Capital Management Ltd boosted its stake in Shell Midstream Partners by 0.8% in the third quarter. Paragon Capital Management Ltd now owns 11,480 shares of the company’s stock worth $368,000 after buying an additional 91 shares during the period. Bank of New York Mellon Corp boosted its stake in 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 worth $227,000 after buying an additional 180 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Shell Midstream Partners by 2.3% in the second quarter. Alliancebernstein L.P. now owns 8,000 shares of the company’s stock worth $270,000 after buying an additional 180 shares during the period. Hedge funds and other institutional investors own 81.76% of the company’s stock.
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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