Shell Midstream Partners LP (NYSE:SHLX) rose 5.1% during mid-day trading on Monday . The company traded as high as $19.99 and last traded at $19.81. Approximately 1,102,785 shares traded hands during mid-day trading, an increase of 26% from the average daily volume of 876,766 shares. The stock had previously closed at $18.84.
SHLX has been the subject of a number of analyst reports. Credit Suisse Group initiated coverage on Shell Midstream Partners in a research report on Thursday, October 11th. They issued a “neutral” rating and a $24.00 price target for the company. ValuEngine upgraded Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. Zacks Investment Research lowered Shell Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, September 1st. JPMorgan Chase & Co. dropped their price target on Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, August 24th. Finally, Royal Bank of Canada lowered Shell Midstream Partners from an “outperform” rating to a “sector perform” rating and set a $22.00 price target for the company. in a research report on Tuesday, November 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.04.
The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 4.11 and a beta of 1.11. The company has a quick ratio of 4.64, a current ratio of 4.64 and a debt-to-equity ratio of 2.18.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, November 5th were given a $0.382 dividend. This represents a $1.53 annualized dividend and a yield of 7.71%. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 2nd. Shell Midstream Partners’s dividend payout ratio is presently 119.53%.
Institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust purchased a new position in Shell Midstream Partners in the third quarter worth approximately $833,000. Tortoise Capital Advisors L.L.C. grew its position in Shell Midstream Partners by 6.2% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 18,766,964 shares of the pipeline company’s stock worth $401,238,000 after acquiring an additional 1,088,507 shares during the period. First Republic Investment Management Inc. purchased a new position in Shell Midstream Partners in the second quarter worth approximately $3,105,000. RR Advisors LLC grew its position in Shell Midstream Partners by 25.3% in the third quarter. RR Advisors LLC now owns 1,886,000 shares of the pipeline company’s stock worth $40,342,000 after acquiring an additional 381,000 shares during the period. Finally, Duff & Phelps Investment Management Co. lifted its stake in Shell Midstream Partners by 23.4% during the third quarter. Duff & Phelps Investment Management Co. now owns 534,625 shares of the pipeline company’s stock worth $11,430,000 after purchasing an additional 101,300 shares in the last quarter. Institutional investors own 54.22% of the company’s stock.
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Shell Midstream Partners Company Profile (NYSE:SHLX)
Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. Its crude oil pipeline systems include a 350 miles of Zydeco pipeline system; a 130-miles of delta pipeline; a 174-mile offshore Gulf of Mexico corridor pipeline; and a 75-mile offshore pipeline.
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