Shell Midstream Partners, L.P. (NYSE:SHLX – Get Rating) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 10,930,000 shares, a growth of 19.6% from the June 30th total of 9,140,000 shares. Currently, 9.1% of the shares of the stock are short sold. Based on an average trading volume of 1,800,000 shares, the days-to-cover ratio is currently 6.1 days.
Institutional Investors Weigh In On Shell Midstream Partners
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Shell Midstream Partners during the fourth quarter worth about $1,396,000. Miller Howard Investments Inc. NY increased its stake in Shell Midstream Partners by 29.4% during the first quarter. Miller Howard Investments Inc. NY now owns 709,232 shares of the pipeline company's stock worth $10,085,000 after acquiring an additional 161,335 shares during the last quarter. Arrow Investment Advisors LLC increased its stake in Shell Midstream Partners by 17.2% during the fourth quarter. Arrow Investment Advisors LLC now owns 22,306 shares of the pipeline company's stock worth $257,000 after acquiring an additional 3,276 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Shell Midstream Partners by 10.4% during the fourth quarter. Teacher Retirement System of Texas now owns 26,020 shares of the pipeline company's stock worth $300,000 after acquiring an additional 2,445 shares during the last quarter. Finally, Selective Wealth Management Inc. acquired a new stake in Shell Midstream Partners during the first quarter worth about $43,000. 17.63% of the stock is currently owned by institutional investors and hedge funds.
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Shell Midstream Partners Stock Performance
NYSE SHLX opened at $15.82 on Friday. The business's 50-day moving average price is $14.47 and its 200 day moving average price is $14.02. Shell Midstream Partners has a twelve month low of $10.76 and a twelve month high of $16.08. The company has a market capitalization of $6.22 billion, a PE ratio of 13.07 and a beta of 1.34. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.74.
Shell Midstream Partners (NYSE:SHLX – Get Rating) last released 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 return on equity of 98.64% and a net
margin of 97.11%. The business had revenue of $149.00 million for the quarter, compared to analysts' expectations of $132.81 million. During the same quarter last year, the company posted $0.36 earnings per share. The business's quarterly revenue was up 10.4% compared to the same quarter last year. On average, research analysts predict that Shell Midstream Partners will post 1.52 earnings per share for the current year.
Shell Midstream Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Tuesday, August 2nd will be given a dividend of $0.30 per share. The ex-dividend date is Monday, August 1st. This represents a $1.20 annualized dividend and a yield of 7.59%. Shell Midstream Partners's dividend payout ratio (DPR) is presently 99.17%.
Wall Street Analyst Weigh In
Separately, Mizuho upped their price objective on Shell Midstream Partners from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $13.75.
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.
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