RBC Capital Downgrades Shell Midstream (SHLX) to Hold


In a report released today, T J Schultz from RBC Capital downgraded Shell Midstream (SHLX) to Hold, with a price target of $22. The company’s shares closed yesterday at $19.02, equals to its 52-week low of $19.02.

According to TipRanks.com, Schultz is a top 100 analyst with an average return of 19.6% and a 68.0% success rate. Schultz covers the Basic Materials sector, focusing on stocks such as Sanchez Midstream Partners LP, Oasis Midstream Partners Lp, and Enbridge Energy Management.

The word on The Street in general, suggests a Hold analyst consensus rating for Shell Midstream with a $23.50 average price target, representing a 23.6% upside. In a report issued on October 23, Stifel Nicolaus also maintained a Hold rating on the stock with a $25 price target.

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Based on Shell Midstream’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $112 million. In comparison, last year the company had a net profit of $55 million.

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Shell Midstream Partners LP owns, operates, develops, and acquires pipelines and other midstream assets. Its assets consist of entities which hold interest in crude oil and refined products pipelines and a crude tank storage and terminal system. The company was founded on March 19, 2014 and is headquartered in Houston, TX.

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