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

Several other analysts have also commented on SHLX. Zacks Investment Research raised Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $36.00 price target on shares of Shell Midstream Partners, L.P. in a research note on Friday, July 14th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $41.00 price target on shares of Shell Midstream Partners, L.P. in a research note on Monday, August 21st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Shell Midstream Partners, L.P. has an average rating of “Buy” and an average price target of $37.83.

Shares of Shell Midstream Partners, L.P. (NYSE SHLX) opened at 28.19 on Friday. Shell Midstream Partners, L.P. has a 1-year low of $25.42 and a 1-year high of $34.17. The company has a market capitalization of $5.00 billion, a PE ratio of 22.86 and a beta of 1.17. The firm has a 50-day moving average price of $27.46 and a 200-day moving average price of $30.27.

Shell Midstream Partners, L.P. (NYSE:SHLX) last announced its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The company had revenue of $86.80 million during the quarter, compared to analyst estimates of $69.55 million. Shell Midstream Partners, L.P. had a net margin of 87.22% and a return on equity of 258.67%. Shell Midstream Partners, L.P.’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. Equities analysts anticipate that Shell Midstream Partners, L.P. will post $1.37 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of SHLX. Envestnet Asset Management Inc. boosted its stake 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 worth $149,000 after purchasing an additional 63 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in 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 purchasing an additional 398 shares in the last quarter. Johnson Financial Group LLC acquired a new position in Shell Midstream Partners, L.P. in the second quarter worth $218,000. BNP Paribas Arbitrage SA acquired a new position in Shell Midstream Partners, L.P. in the first quarter worth $239,000. Finally, Doliver Capital Advisors LP acquired a new position in Shell Midstream Partners, L.P. in the second quarter worth $242,000. 46.02% of the stock is currently owned by institutional investors.

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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