Royal Bank of Canada cut shares of Shell Midstream Partners (NYSE:SHLX) from an outperform rating to a sector perform rating in a report issued on Tuesday, Marketbeat Ratings reports. They currently have $22.00 price target on the pipeline company’s stock.

A number of other research firms also recently weighed in on SHLX. Stifel Nicolaus dropped their price target on shares of Shell Midstream Partners from $26.00 to $24.00 and set a hold rating for the company in a research report on Friday, August 3rd. Zacks Investment Research upgraded shares of Shell Midstream Partners from a hold rating to a buy rating and set a $25.00 price target for the company in a research report on Thursday, July 19th. Barclays dropped their price target on shares of Shell Midstream Partners from $29.00 to $24.00 and set an equal weight rating for the company in a research report on Wednesday, July 11th. Credit Suisse Group started coverage on shares of Shell Midstream Partners in a research report on Thursday, October 11th. They issued a neutral rating and a $24.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of Shell Midstream Partners from $28.00 to $27.00 and set an overweight rating for the company in a research report on Friday, August 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Shell Midstream Partners presently has an average rating of Hold and a consensus target price of $26.27.

Shares of NYSE SHLX traded down $0.08 during midday trading on Tuesday, reaching $19.55. The company’s stock had a trading volume of 738,527 shares, compared to its average volume of 771,630. The company has a current ratio of 4.64, a quick ratio of 3.66 and a debt-to-equity ratio of 2.18. Shell Midstream Partners has a fifty-two week low of $18.58 and a fifty-two week high of $31.19. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 4.42 and a beta of 1.13.

Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings results on Thursday, November 1st. The pipeline company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. Shell Midstream Partners had a net margin of 80.40% and a negative return on equity of 215.59%. The company had revenue of $153.50 million during the quarter, compared to the consensus estimate of $137.00 million. During the same period in the previous year, the business earned $0.31 earnings per share. On average, equities research analysts forecast that Shell Midstream Partners will post 1.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th will be given a dividend of $0.382 per share. This is an increase from Shell Midstream Partners’s previous quarterly dividend of $0.37. This represents a $1.53 annualized dividend and a yield of 7.82%. The ex-dividend date is Friday, November 2nd. Shell Midstream Partners’s payout ratio is currently 119.53%.

Institutional investors and hedge funds have recently made changes to their positions in the business. MHI Funds LLC acquired a new position in Shell Midstream Partners during the third quarter valued at approximately $240,000. First National Trust Co acquired a new position in Shell Midstream Partners during the third quarter valued at approximately $270,000. Baldwin Brothers Inc. MA acquired a new position in Shell Midstream Partners during the second quarter valued at approximately $291,000. Gryphon Financial Partners LLC raised its position in Shell Midstream Partners by 350.4% during the third quarter. Gryphon Financial Partners LLC now owns 14,525 shares of the pipeline company’s stock valued at $310,000 after purchasing an additional 11,300 shares in the last quarter. Finally, Linscomb & Williams Inc. raised its position in Shell Midstream Partners by 76.4% during the third quarter. Linscomb & Williams Inc. now owns 18,792 shares of the pipeline company’s stock valued at $402,000 after purchasing an additional 8,139 shares in the last quarter. Institutional investors and hedge funds own 53.55% of the company’s stock.

About Shell Midstream Partners

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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Analyst Recommendations for Shell Midstream Partners (NYSE:SHLX)

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