Shares of Shell Midstream Partners LP (NYSE:SHLX) have been given an average recommendation of “Buy” by the six brokerages that are presently covering the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $41.00.

Several research firms recently issued reports on SHLX. Zacks Investment Research lowered Shell Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Morgan Stanley assumed coverage on Shell Midstream Partners in a research report on Thursday, June 16th. They set an “equal weight” rating and a $39.00 price target on the stock. Stifel Nicolaus assumed 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. Finally, Barclays PLC lowered their price target 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.

Several institutional investors have recently bought and sold shares of the stock. Harvest Fund Advisors LLC increased its position in Shell Midstream Partners by 2.4% in the second quarter. Harvest Fund Advisors LLC now owns 6,127,817 shares of the company’s stock valued at $207,059,000 after buying an additional 141,981 shares during the last quarter. Stifel Financial Corp purchased a new position in Shell Midstream Partners during the second quarter valued at approximately $794,000. Virtu Financial LLC purchased a new position in Shell Midstream Partners during the second quarter valued at approximately $1,104,000. Cypress Wealth Advisors LLC increased its position in Shell Midstream Partners by 8.0% in the second quarter. Cypress Wealth Advisors LLC now owns 44,011 shares of the company’s stock valued at $1,487,000 after buying an additional 3,250 shares during the last quarter. Finally, Balentine LLC purchased a new position in Shell Midstream Partners during the second quarter valued at approximately $156,000. 80.42% of the stock is currently owned by institutional investors.

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Shell Midstream Partners (NYSE:SHLX) traded up 0.37% during trading on Wednesday, hitting $29.74. The company had a trading volume of 163,847 shares. The stock has a 50-day moving average of $30.66 and a 200 day moving average of $33.34. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 20.71 and a beta of 1.11. Shell Midstream Partners has a one year low of $25.13 and a one year high of $42.29.

Shell Midstream Partners (NYSE:SHLX) last released its earnings results on Thursday, August 4th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.04. Shell Midstream Partners had a return on equity of 70.93% and a net margin of 82.18%. The company had revenue of $71.10 million for the quarter, compared to the consensus estimate of $78.15 million. During the same quarter in the previous year, the company posted $0.22 EPS. The business’s revenue was up 23.4% on a year-over-year basis. Equities analysts forecast that Shell Midstream Partners will post $1.44 EPS for the current fiscal year.

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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