Barclays Maintains Their Hold Rating on Shell Midstream

By Austin Angelo

In a report released today, Christine Cho from Barclays maintained a Hold rating on Shell Midstream (NYSE: SHLX), with a price target of $29. The company’s shares opened today at $20.59, close to its 52-week low of $19.42.

According to TipRanks.com, Cho is a 3-star analyst with an average return of 1.5% and a 52.8% success rate. Cho covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, Valero Energy Partners, and Targa Resources Corp.

Currently, the analyst consensus on Shell Midstream is Moderate Buy and the average price target is $28.13, representing a 36.6% upside.

In a report issued on April 4, Stifel Nicolaus also reiterated a Hold rating on the stock with a $25 price target.

Based on Shell Midstream’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $127 million and quarterly net profit of $65.8 million. In comparison, last year the company earned revenue of $70.2 million and had a net profit of $58.7 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.