In a report released yesterday, Selman Akyol from Stifel Nicolaus reiterated a Hold rating on Shell Midstream (NYSE: SHLX), with a price target of $24. The company’s shares closed yesterday at $22.29.
According to TipRanks.com, Akyol is a 4-star analyst with an average return of 2.9% and a 60.8% success rate. Akyol covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Dcp Midstream Partners Lp, and Compressco Partners LP.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shell Midstream with a $27 average price target.
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Based on Shell Midstream’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $79.1 million. In comparison, last year the company had a net profit of $51.2 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.
