Shell Midstream Partners, L.P. (NYSE:SHLX) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday.

Several other equities analysts have also recently weighed in on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $41.00 price objective on shares of Shell Midstream Partners, L.P. in a research report on Monday. Zacks Investment Research upgraded shares of Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $36.00 price objective on shares of Shell Midstream Partners, L.P. in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Shell Midstream Partners, L.P. currently has a consensus rating of “Buy” and an average price target of $37.83.

Shell Midstream Partners, L.P. (SHLX) traded up 0.56% during midday trading on Friday, reaching $26.72. The company’s stock had a trading volume of 23,507 shares. Shell Midstream Partners, L.P. has a 1-year low of $25.42 and a 1-year high of $34.17. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 21.67 and a beta of 1.17. The company has a 50 day moving average price of $28.19 and a 200 day moving average price of $30.62.

Shell Midstream Partners, L.P. (NYSE:SHLX) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.02. Shell Midstream Partners, L.P. had a return on equity of 258.67% and a net margin of 87.22%. The firm had revenue of $86.80 million for the quarter, compared to analysts’ expectations of $69.55 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities research analysts expect that Shell Midstream Partners, L.P. will post $1.37 EPS for the current year.

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Institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its position in Shell Midstream Partners, L.P. by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock valued at $149,000 after buying an additional 63 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Shell Midstream Partners, L.P. by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after buying an additional 398 shares in the last quarter. Johnson Financial Group LLC acquired a new stake in shares of Shell Midstream Partners, L.P. during the second quarter worth about $218,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Shell Midstream Partners, L.P. during the first quarter worth about $239,000. Finally, Doliver Capital Advisors LP acquired a new stake in shares of Shell Midstream Partners, L.P. during the second quarter worth about $242,000. Institutional investors and hedge funds own 45.88% of the company’s stock.

About Shell Midstream Partners, L.P.

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.

Analyst Recommendations for Shell Midstream Partners, L.P. (NYSE:SHLX)

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