Shell Midstream Partners’ (SHLX) “Buy” Rating Reiterated at UBS Group
Shell Midstream Partners (NYSE:SHLX)‘s stock had its “buy” rating restated by investment analysts at UBS Group in a research report issued to clients and investors on Friday, www.benzinga.com reports. They presently have a $38.00 price objective on the pipeline company’s stock, down from their previous price objective of $40.00. UBS Group’s target price would indicate a potential upside of 53.60% from the stock’s current price.
SHLX has been the subject of several other reports. Citigroup reaffirmed a “buy” rating and issued a $32.00 price objective (down from $36.50) on shares of Shell Midstream Partners in a report on Monday, November 20th. BidaskClub raised Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 7th. Barclays dropped their price objective on Shell Midstream Partners from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 6th. Morgan Stanley dropped their price objective on Shell Midstream Partners from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Friday, November 17th. Finally, Stifel Nicolaus cut Shell Midstream Partners from a “buy” rating to a “hold” rating and boosted their price target for the stock from $30.00 to $31.00 in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Shell Midstream Partners has an average rating of “Hold” and an average price target of $31.83.
Shares of Shell Midstream Partners (NYSE SHLX) traded up $0.04 during midday trading on Friday, reaching $24.74. The company’s stock had a trading volume of 1,433,770 shares, compared to its average volume of 1,606,052. The firm has a market cap of $5,528.15, a PE ratio of 19.33, a PEG ratio of 1.21 and a beta of 1.15. The company has a debt-to-equity ratio of 42.36, a current ratio of 3.36 and a quick ratio of 3.36. Shell Midstream Partners has a 52-week low of $23.87 and a 52-week high of $33.34.
Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in shares of Shell Midstream Partners by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after buying an additional 398 shares in the last quarter. Lucas Capital Management raised its holdings in shares of Shell Midstream Partners by 4.2% during the 3rd quarter. Lucas Capital Management now owns 50,342 shares of the pipeline company’s stock worth $1,402,000 after buying an additional 2,041 shares in the last quarter. RiverPoint Capital Management LLC grew its position in Shell Midstream Partners by 31.3% during the 4th quarter. RiverPoint Capital Management LLC now owns 12,600 shares of the pipeline company’s stock worth $376,000 after acquiring an additional 3,000 shares during the last quarter. Balentine LLC grew its position in Shell Midstream Partners by 63.7% during the 3rd quarter. Balentine LLC now owns 7,763 shares of the pipeline company’s stock worth $216,000 after acquiring an additional 3,021 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Shell Midstream Partners by 10.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 32,473 shares of the pipeline company’s stock worth $904,000 after acquiring an additional 3,139 shares during the last quarter. 45.10% of the stock is owned by institutional investors.
About Shell Midstream Partners
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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