Shell Midstream Partners (SHLX) Stock Price Up 5.1%

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.

Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings data on Thursday, November 1st. The pipeline company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The company had revenue of $153.50 million during the quarter, compared to analyst estimates of $137.00 million. Shell Midstream Partners had a negative return on equity of 215.59% and a net margin of 80.40%. During the same period in the prior year, the business posted $0.31 earnings per share. On average, analysts expect that Shell Midstream Partners LP will post 1.53 EPS for the current fiscal year.

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.

WARNING: “Shell Midstream Partners (SHLX) Stock Price Up 5.1%” was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://www.com-unik.info/2018/12/03/shell-midstream-partners-shlx-stock-price-up-5-1.html.

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.

See Also: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

Receive News & Ratings for Shell Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shell Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit