Shell Midstream Partners, L.P. (NYSE:SHLX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

According to Zacks, “Shell Midstream Partners, L.P. engages in owning, operating, developing and acquiring pipelines and other midstream assets. Its initial assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers. Shell Midstream Partners, L.P. is based in Houston, Texas. “

Several other equities analysts also recently issued reports on the stock. BidaskClub raised shares of Shell Midstream Partners, L.P. from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Stifel Nicolaus reissued a “buy” rating and set a $30.00 price target on shares of Shell Midstream Partners, L.P. in a report on Friday, September 15th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $41.00 price target on shares of Shell Midstream Partners, L.P. in a report on Monday, August 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $36.83.

Shell Midstream Partners, L.P. (NYSE:SHLX) opened at 28.02 on Thursday. Shell Midstream Partners, L.P. has a 52-week low of $25.42 and a 52-week high of $34.17. The firm has a 50-day moving average of $27.66 and a 200 day moving average of $29.52. The company has a market cap of $4.97 billion, a PE ratio of 22.73 and a beta of 1.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last announced its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.29 earnings per share (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 for the quarter, compared to the consensus estimate of $69.55 million. During the same period in the prior year, the business earned $0.35 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts expect that Shell Midstream Partners, L.P. will post $1.36 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its stake in shares of 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 acquiring an additional 63 shares during the last quarter. Paragon Capital Management Ltd raised its stake in shares of Shell Midstream Partners, L.P. by 0.9% in the second quarter. Paragon Capital Management Ltd now owns 11,800 shares of the pipeline company’s stock worth $358,000 after acquiring an additional 105 shares during the last quarter. Linscomb & Williams Inc. raised its stake in shares of Shell Midstream Partners, L.P. by 1.2% in the second quarter. Linscomb & Williams Inc. now owns 11,239 shares of the pipeline company’s stock worth $341,000 after acquiring an additional 129 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Shell Midstream Partners, L.P. by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 31,971 shares of the pipeline company’s stock worth $969,000 after acquiring an additional 166 shares during the last quarter. Finally, CNH Partners LLC raised its stake in shares of Shell Midstream Partners, L.P. by 2.1% in the second quarter. CNH Partners LLC now owns 9,809 shares of the pipeline company’s stock worth $297,000 after acquiring an additional 200 shares during the last quarter. 43.76% of the stock is owned by institutional investors.

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.

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

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