Shell Midstream Partners, L.P. (NYSE:SHLX)‘s stock had its “buy” rating reissued by research analysts at Stifel Nicolaus in a report issued on Friday. They presently have a $30.00 price target on the pipeline company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 9.25% from the stock’s previous close.

SHLX has been the topic of several other research reports. Zacks Investment Research upgraded shares of Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. BidaskClub lowered shares of Shell Midstream Partners, L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, 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 note on Monday, August 21st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $36.83.

Shares of Shell Midstream Partners, L.P. (NYSE SHLX) traded down 2.80% during midday trading on Friday, reaching $27.46. The company’s stock had a trading volume of 731,822 shares. The stock has a 50 day moving average of $27.22 and a 200-day moving average of $30.07. The company has a market capitalization of $4.87 billion, a P/E ratio of 22.27 and a beta of 1.17. Shell Midstream Partners, L.P. has a 1-year low of $25.42 and a 1-year high of $34.17.

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 consensus estimate of $0.31 by ($0.02). Shell Midstream Partners, L.P. had a net margin of 87.22% and a return on equity of 258.67%. The firm had revenue of $86.80 million during the quarter, compared to analyst estimates of $69.55 million. During the same quarter in the previous year, the business posted $0.35 EPS. Shell Midstream Partners, L.P.’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities research analysts anticipate that Shell Midstream Partners, L.P. will post $1.36 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its stake in shares of Shell Midstream Partners, L.P. by 1.4% during the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock valued at $149,000 after acquiring an additional 63 shares during the period. Paragon Capital Management Ltd increased its stake in shares of Shell Midstream Partners, L.P. by 0.9% during the second quarter. Paragon Capital Management Ltd now owns 11,800 shares of the pipeline company’s stock valued at $358,000 after acquiring an additional 105 shares during the period. Linscomb & Williams Inc. increased its stake in shares of Shell Midstream Partners, L.P. by 1.2% during the second quarter. Linscomb & Williams Inc. now owns 11,239 shares of the pipeline company’s stock valued at $341,000 after acquiring an additional 129 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Shell Midstream Partners, L.P. by 0.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 31,971 shares of the pipeline company’s stock valued at $969,000 after acquiring an additional 166 shares during the period. Finally, Global Endowment Management LP increased its stake in shares of Shell Midstream Partners, L.P. by 1.0% during the first quarter. Global Endowment Management LP now owns 19,620 shares of the pipeline company’s stock valued at $633,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 46.02% of the company’s stock.

Shell Midstream Partners, L.P. Company Profile

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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