Barclays Has Just Reaffirmed $29 Target Price Per Share on Shell Midstream Partners (NYSE:SHLX) stock, While They’ve Also Reiterated Their “Equal-Weight” Rating

April 17, 2018 - By James Guidry

Shell Midstream Partners (NYSE:SHLX) Rating Reaffirmed

They currently have a $29 target price on Shell Midstream Partners (NYSE:SHLX). The target price by Barclays would suggest a potential upside of 28.38 % from the company’s last stock price. This has been released in an analyst report on Monday morning.

Shell Midstream Partners, L.P. (NYSE:SHLX) Ratings Coverage

Among 8 analysts covering Shell Midstream (NYSE:SHLX), 5 have Buy rating, 0 Sell and 3 Hold. Therefore 63% are positive. Shell Midstream has $40 highest and $25 lowest target. $30.56’s average target is 35.28% above currents $22.59 stock price. Shell Midstream had 17 analyst reports since October 19, 2017 according to SRatingsIntel. The stock of Shell Midstream Partners, L.P. (NYSE:SHLX) has “Overweight” rating given on Tuesday, March 13 by JP Morgan. As per Wednesday, January 17, the company rating was downgraded by Stifel Nicolaus. The stock of Shell Midstream Partners, L.P. (NYSE:SHLX) earned “Buy” rating by UBS on Friday, November 17. Stifel Nicolaus maintained the stock with “Hold” rating in Thursday, March 1 report. The stock of Shell Midstream Partners, L.P. (NYSE:SHLX) earned “Buy” rating by Mizuho on Monday, March 26. RBC Capital Markets maintained the stock with “Buy” rating in Tuesday, January 16 report. The stock has “Hold” rating by Stifel Nicolaus on Thursday, April 5. UBS maintained Shell Midstream Partners, L.P. (NYSE:SHLX) on Friday, March 2 with “Buy” rating. The rating was maintained by Morgan Stanley on Friday, November 17 with “Equal-Weight”. On Monday, November 6 the stock rating was maintained by Barclays Capital with “Equal-Weight”.

The stock increased 3.96% or $0.86 during the last trading session, reaching $22.59. About 786,794 shares traded. Shell Midstream Partners, L.P. (NYSE:SHLX) has declined 33.91% since April 17, 2017 and is downtrending. It has underperformed by 45.46% the S&P500.

Analysts await Shell Midstream Partners, L.P. (NYSE:SHLX) to report earnings on May, 4. They expect $0.23 EPS, down 30.30 % or $0.10 from last year’s $0.33 per share. SHLX’s profit will be $51.48 million for 24.55 P/E if the $0.23 EPS becomes a reality. After $0.35 actual EPS reported by Shell Midstream Partners, L.P. for the previous quarter, Wall Street now forecasts -34.29 % negative EPS growth.

Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. The company has market cap of $5.06 billion. The Company’s crude oil pipeline systems include approximately 350 miles of Zydeco pipeline system to Texas and Louisiana; a 174-mile offshore Gulf of Mexico corridor pipeline that transports medium sour crude from producers in eastern Garden Bank and Keathley Canyon blocks; and Odyssey pipeline system covering approximately 106-miles, which transports crude oil in the offshore eastern Gulf of Mexico to markets in Louisiana. It has a 17.66 P/E ratio. The firm also has interests in a 367-mile Gulf of Mexico offshore pipeline that transports crude oil to Texas and Louisiana; a 71-mile crude oil pipeline that provides transportation for various oil producers in the eastern Gulf of Mexico; and Endymion pipeline system, an 89-mile crude oil pipeline that offers transportation for various oil producers in the eastern Gulf of Mexico.

Shell Midstream Partners, L.P. (NYSE:SHLX) Ratings Chart

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