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

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. “

A number of other research analysts have also commented on SHLX. BidaskClub upgraded Shell Midstream Partners, L.P. from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Stifel Nicolaus restated a “buy” rating and issued a $36.00 target price on shares of Shell Midstream Partners, L.P. in a research note on Friday, July 14th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $41.00 target price on shares of Shell Midstream Partners, L.P. in a research note on Monday, August 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $36.83.

Shares of Shell Midstream Partners, L.P. (NYSE:SHLX) opened at 26.47 on Tuesday. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 21.47 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. The firm’s 50-day moving average is $27.70 and its 200 day moving average is $29.21.

Shell Midstream Partners, L.P. (NYSE:SHLX) last issued its earnings results on Thursday, August 3rd. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The firm 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%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. Equities analysts expect that Shell Midstream Partners, L.P. will post $1.28 EPS for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its stake in 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 worth $149,000 after acquiring an additional 63 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Shell Midstream Partners, L.P. by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after acquiring an additional 398 shares in the last quarter. Johnson Financial Group LLC acquired a new position in Shell Midstream Partners, L.P. during the second quarter worth $218,000. Doliver Capital Advisors LP acquired a new position in Shell Midstream Partners, L.P. during the second quarter worth $242,000. Finally, Proficio Capital Partners LLC raised its stake in Shell Midstream Partners, L.P. by 11.1% during the second quarter. Proficio Capital Partners LLC now owns 9,460 shares of the pipeline company’s stock worth $266,000 after acquiring an additional 944 shares in the last quarter. Hedge funds and other institutional investors own 43.72% 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.

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

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