Shell Midstream Partners LP (SHLX) Received Consensus Recommendation of “Hold” from Analysts

Shell Midstream Partners LP (SHLX) Received Consensus Recommendation of “Hold” from Analysts

Shares of Shell Midstream Partners LP (NYSE:SHLX) have been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $25.96.

A number of brokerages have recently commented on SHLX. Zacks Investment Research upgraded Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Saturday. ValuEngine lowered Shell Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, December 27th. Bank of America lowered Shell Midstream Partners from a “neutral” rating to an “underperform” rating in a report on Monday, December 10th. Morgan Stanley cut their price target on Shell Midstream Partners from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, November 30th. Finally, Royal Bank of Canada lowered Shell Midstream Partners from an “outperform” rating to a “sector perform” rating and set a $22.00 price target on the stock. in a report on Tuesday, November 6th.

Institutional investors have recently modified their holdings of the company. Lindbrook Capital LLC bought a new stake in Shell Midstream Partners during the fourth quarter worth about $39,000. Penserra Capital Management LLC bought a new stake in Shell Midstream Partners during the fourth quarter worth about $166,000. MHI Funds LLC bought a new stake in Shell Midstream Partners during the third quarter worth about $240,000. Advisors Asset Management Inc. bought a new stake in Shell Midstream Partners during the third quarter worth about $249,000. Finally, Summit Wealth & Retirement Planning Inc. bought a new stake in Shell Midstream Partners during the fourth quarter worth about $250,000. Institutional investors own 53.57% of the company’s stock.

Shares of Shell Midstream Partners stock opened at $18.76 on Tuesday. The stock has a market capitalization of $4.22 billion, a PE ratio of 14.66, a PEG ratio of 3.23 and a beta of 1.34. Shell Midstream Partners has a one year low of $15.86 and a one year high of $26.43.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Stockholders of record on Monday, February 4th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.53%. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 1st. Shell Midstream Partners’s payout ratio is 125.00%.

Shell Midstream Partners Company Profile

Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. Its crude oil pipeline systems include a 350 miles of Zydeco pipeline system; a 130-miles of delta pipeline; a 174-mile offshore Gulf of Mexico corridor pipeline; and a 75-mile offshore pipeline.

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