Research analysts at Credit Suisse Group began coverage on shares of Shell Midstream Partners (NYSE:SHLX) in a report released on Thursday, The Fly reports. The firm set a “neutral” rating and a $24.00 price target on the pipeline company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 10.09% from the stock’s current price.

SHLX has been the subject of a number of other reports. Zacks Investment Research raised shares of Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday, August 29th. Wells Fargo & Co reduced their target price on shares of Shell Midstream Partners from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, September 13th. ValuEngine raised shares of Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 17th. Bank of America assumed coverage on shares of Shell Midstream Partners in a research note on Tuesday, July 10th. They set a “buy” rating and a $27.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Shell Midstream Partners currently has a consensus rating of “Hold” and an average target price of $27.12.

Shell Midstream Partners stock opened at $21.80 on Thursday. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of -6.59. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 5.26 and a beta of 1.23. Shell Midstream Partners has a 52-week low of $19.42 and a 52-week high of $31.19.

Shell Midstream Partners (NYSE:SHLX) last posted its earnings results on Thursday, August 2nd. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $129.30 million during the quarter, compared to analyst estimates of $120.71 million. Shell Midstream Partners had a net margin of 74.14% and a negative return on equity of 295.18%. Shell Midstream Partners’s revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 EPS. Equities analysts forecast that Shell Midstream Partners will post 1.36 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its holdings in shares of Shell Midstream Partners by 65.5% during the 1st quarter. Wells Fargo & Company MN now owns 387,518 shares of the pipeline company’s stock valued at $8,157,000 after buying an additional 153,419 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in shares of Shell Midstream Partners by 58.4% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 7,432,590 shares of the pipeline company’s stock valued at $156,438,000 after buying an additional 2,741,750 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Shell Midstream Partners by 3.0% during the 1st quarter. Northern Trust Corp now owns 207,281 shares of the pipeline company’s stock valued at $4,363,000 after buying an additional 6,078 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Shell Midstream Partners by 32.9% during the 1st quarter. California Public Employees Retirement System now owns 290,380 shares of the pipeline company’s stock valued at $6,112,000 after buying an additional 71,871 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Shell Midstream Partners by 12.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 125,637 shares of the pipeline company’s stock valued at $2,646,000 after buying an additional 14,301 shares in the last quarter. Institutional investors own 54.82% 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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