Mizuho Securities Initiates Coverage on Shell Midstream Partners LP to Buy

Mizuho Securities Initiates Coverage on Shell Midstream Partners LP(NYSE:SHLX). The shares have been rated Buy. The rating by Mizuho Securities was issued on Sep 30, 2016.

In a different note, Stifel Nicolaus said it Initiates Coverage on Shell Midstream Partners LP, according to a research note issued on Aug 18, 2016. The shares have been rated ‘Buy’ by the firm. On Jul 28, 2016, Barclays said it Maintains its rating on Shell Midstream Partners LP. In the research note, the firm Lowers the price-target to $51.00 per share. The shares have been rated ‘Overweight’ by the firm.

Shell Midstream Partners LP (SHLX) made into the market gainers list on Tuesdays trading session with the shares advancing 0.13% or 0.04 points. Due to strong positive momentum, the stock ended at $31.44, which is also near the day’s high of $31.8033. The stock began the session at $31.59 and the volume stood at 2,42,075 shares. The 52-week high of the shares is $42.29 and the 52 week low is $29.4667. The company has a current market capitalization of $5,575 M and it has 17,73,17,440 shares in outstanding.

Shell Midstream Partners LP(SHLX) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $71.10M. Analysts had an estimated revenue of $78.15M. Earnings per share were $0.34. Analysts had estimated an EPS of $0.40.

Several Insider Transactions has been reported to the SEC. On Feb 25, 2016, Margaret C Montana (director) purchased 35 shares at $35.71 per share price.Also, On Feb 25, 2016, Michele F Joy (officer ) purchased 37 shares at $36.90 per share price.On Dec 22, 2015, Alton G Smith (Vice President, Operations) purchased 3,435 shares at $37.58 per share price, according to the Form-4 filing with the securities and exchange commission.

Shell Midstream Partners L.P. is a master limited partnership company formed to own operate develop and acquire pipelines and other midstream assets. The company own interests in two crude oil pipeline systems and two refined products systems. The crude oil pipeline systems which are held by Zydeco and Mars Oil Pipeline Company (Mars) are located along the Texas and Louisiana Gulf Coast and in the Gulf of Mexico. These systems link onshore and offshore production areas with refining markets. The refined products pipeline systems which are held by Bengal Pipeline Company LLC (Bengal) and Colonial Pipeline Company (Colonial) connect Gulf Coast and southeastern United States refineries to demand centers from Alabama to New York.

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