Shell Midstream Partners (NYSE:SHLX – Get Rating) had its price objective boosted by Mizuho from $14.00 to $16.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the pipeline company's stock.
Shell Midstream Partners Trading Up 0.1 %
NYSE:SHLX opened at $15.82 on Monday. The stock has a 50-day simple moving average of $14.47 and a 200-day simple moving average of $14.02. The stock has a market cap of $6.22 billion, a P/E ratio of 13.07 and a beta of 1.34. Shell Midstream Partners has a 1 year low of $10.76 and a 1 year high of $16.08. The company has a debt-to-equity ratio of 3.74, a quick ratio of 1.18 and a current ratio of 1.18.
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Shell Midstream Partners (NYSE:SHLX – Get Rating) last posted its earnings results on Thursday, July 28th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.05). Shell Midstream Partners had a net margin of 97.11% and a return on equity of 98.64%. The firm had revenue of $149.00 million during the quarter, compared to analysts' expectations of $132.81 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. As a group, analysts anticipate that Shell Midstream Partners will post 1.52 earnings per share for the current fiscal year.
Shell Midstream Partners Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Tuesday, August 2nd will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 7.59%. The ex-dividend date is Monday, August 1st. Shell Midstream Partners's payout ratio is currently 99.17%.
Institutional Trading of Shell Midstream Partners
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC raised its stake in shares of Shell Midstream Partners by 9.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 24,709 shares of the pipeline company's stock worth $284,000 after buying an additional 2,094 shares in the last quarter. Roosevelt Investment Group LLC purchased a new position in shares of Shell Midstream Partners during the 4th quarter worth approximately $116,000. Advisor Group Holdings Inc. raised its stake in shares of Shell Midstream Partners by 74.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 26,146 shares of the pipeline company's stock worth $302,000 after buying an additional 11,169 shares in the last quarter. Pinnacle Private Wealth LLC purchased a new position in shares of Shell Midstream Partners during the 4th quarter worth approximately $127,000. Finally, SG Americas Securities LLC raised its stake in shares of Shell Midstream Partners by 18.1% during the 4th quarter. SG Americas Securities LLC now owns 48,418 shares of the pipeline company's stock worth $558,000 after buying an additional 7,408 shares in the last quarter. 17.63% of the stock is owned by hedge funds and other institutional investors.
About Shell Midstream Partners
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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.
Further Reading
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