Barclays Maintains Shell Midstream Partners LP to Overweight with Price Target $39.00

Brokerage firm Barclays Maintains its rating on Shell Midstream Partners LP(NYSE:SHLX). In a research note issued to the investors, the brokerage major Lowers the price-target to $39.00 per share. The shares have been rated Overweight. The rating by Barclays was issued on Jul 28, 2016.

In a different note, Morgan Stanley said it Initiates Coverage on Shell Midstream Partners LP, according to a research note issued on Jun 16, 2016. The shares have been rated ‘Equal-weight’ by the firm. RBC Capital said it Initiates Coverage on Shell Midstream Partners LP, according to a research note issued on May 2, 2016. The shares have been rated ‘Outperform’ by the firm.

Shell Midstream Partners LP (SHLX) shares turned negative on Thursdays trading session with the shares closing down -0.26 points or -0.83% at a volume of 3,59,572. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $31.785. The peak price level was also seen at $31.785 while the days lowest was $30.33. Finally the shares closed at $31. The 52-week high of the shares is $44.8599 while the 52-week low is $25.13. According to the latest information available, the market cap of the company is $5,123 M.

Shell Midstream Partners LP(SHLX) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $76.70M. Analysts had an estimated revenue of $68.55M. Earnings per share were $0.36. Analysts had estimated an EPS of $0.35.

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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