Shell Midstream Partners (NYSE:SHLX – Get Rating) had its price objective hoisted by Mizuho from $14.00 to $16.00 in a research report report published on Monday morning, The Fly reports. They currently have a neutral rating on the pipeline company's stock.
Shell Midstream Partners Stock Down 1.4 %
NYSE SHLX opened at $15.82 on Monday. The company has a debt-to-equity ratio of 3.74, a current ratio of 1.18 and a quick ratio of 1.18. The company's 50 day simple moving average is $14.36 and its 200 day simple moving average is $13.98. Shell Midstream Partners has a 12 month low of $10.76 and a 12 month high of $16.08. The company has a market capitalization of $6.22 billion, a P/E ratio of 13.07 and a beta of 1.35.
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Shell Midstream Partners (NYSE:SHLX – Get Rating) last released its earnings results on Thursday, July 28th. The pipeline company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.05). Shell Midstream Partners had a return on equity of 98.64% and a net margin of 97.11%. The business had revenue of $149.00 million during the quarter, compared to the consensus estimate of $132.81 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts expect that Shell Midstream Partners will post 1.52 earnings per share for the current fiscal year.
Shell Midstream Partners Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Tuesday, August 2nd will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.59%. Shell Midstream Partners's dividend payout ratio is currently 99.17%.
Institutional Investors Weigh In On Shell Midstream Partners
A number of large investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of Shell Midstream Partners by 9.9% during the first quarter. Van ECK Associates Corp now owns 13,745 shares of the pipeline company's stock valued at $195,000 after acquiring an additional 1,233 shares during the period. HighTower Advisors LLC raised its holdings in shares of Shell Midstream Partners by 1.1% during the first quarter. HighTower Advisors LLC now owns 136,608 shares of the pipeline company's stock valued at $1,944,000 after acquiring an additional 1,450 shares during the period. Selective Wealth Management Inc. raised its holdings in shares of Shell Midstream Partners by 66.7% during the second quarter. Selective Wealth Management Inc. now owns 5,000 shares of the pipeline company's stock valued at $70,000 after acquiring an additional 2,000 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Shell Midstream Partners by 9.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 24,709 shares of the pipeline company's stock valued at $284,000 after acquiring an additional 2,094 shares during the period. Finally, GraniteShares Advisors LLC raised its holdings in shares of Shell Midstream Partners by 3.0% during the second quarter. GraniteShares Advisors LLC now owns 72,748 shares of the pipeline company's stock valued at $1,023,000 after acquiring an additional 2,100 shares during the period. Institutional investors and hedge funds own 17.63% of the company's stock.
Shell Midstream Partners Company Profile
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Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream, and logistics assets in the United States. It owns interests in crude oil and refined products pipelines and terminals to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets.
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