Mizuho Boosts Shell Midstream Partners (NYSE:SHLX) Price Target to $16.00

Shell Midstream Partners (NYSE:SHLXGet Rating) had its price objective lifted by analysts at Mizuho from $14.00 to $16.00 in a research report issued on Monday, The Fly reports. The brokerage presently has a “maintains” rating on the pipeline company’s stock. Mizuho’s price objective would indicate a potential upside of 1.20% from the company’s previous close.

Shell Midstream Partners Trading Down 0.1 %

Shares of NYSE SHLX traded down $0.01 during trading on Monday, reaching $15.81. The company had a trading volume of 90,872 shares, compared to its average volume of 2,941,712. Shell Midstream Partners has a 52 week low of $10.76 and a 52 week high of $16.08. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.74. The business’s 50 day moving average price is $14.36 and its 200-day moving average price is $13.98.

Shell Midstream Partners (NYSE:SHLXGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). The business had revenue of $149.00 million for the quarter, compared to the consensus estimate of $132.81 million. Shell Midstream Partners had a return on equity of 98.64% and a net margin of 97.11%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. As a group, research analysts forecast that Shell Midstream Partners will post 1.52 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SHLX. Commonwealth Equity Services LLC boosted its holdings in Shell Midstream Partners by 9.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 24,709 shares of the pipeline company’s stock worth $284,000 after purchasing an additional 2,094 shares during the last quarter. Roosevelt Investment Group LLC bought a new stake in Shell Midstream Partners during the fourth quarter worth $116,000. Advisor Group Holdings Inc. raised its position in Shell Midstream Partners by 74.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 26,146 shares of the pipeline company’s stock worth $302,000 after acquiring an additional 11,169 shares in the last quarter. Pinnacle Private Wealth LLC bought a new stake in Shell Midstream Partners during the fourth quarter worth $127,000. Finally, SG Americas Securities LLC raised its position in Shell Midstream Partners by 18.1% during the fourth quarter. SG Americas Securities LLC now owns 48,418 shares of the pipeline company’s stock worth $558,000 after acquiring an additional 7,408 shares in the last quarter. Institutional investors and hedge funds own 17.63% of the company’s stock.

About Shell Midstream Partners

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Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream, and logistics assets in the United States. It owns interests in crude oil and refined products pipelines and terminals to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets.

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