Shares of Shell Midstream Partners, L.P. (NYSE:SHLX – Get Rating) have been assigned an average rating of "Hold" from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $13.75.
Separately, Mizuho increased their target price on shares of Shell Midstream Partners from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, August 1st.
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Hedge Funds Weigh In On Shell Midstream Partners
A number of hedge funds have recently modified their holdings of SHLX. Ahrens Investment Partners LLC bought a new stake in Shell Midstream Partners in the second quarter worth $42,000. Selective Wealth Management Inc. bought a new stake in Shell Midstream Partners during the first quarter valued at about $43,000. Cypress Capital Management LLC WY bought a new stake in Shell Midstream Partners during the second quarter valued at about $58,000. FNY Investment Advisers LLC bought a new stake in Shell Midstream Partners during the second quarter valued at about $70,000. Finally, Hexagon Capital Partners LLC bought a new stake in Shell Midstream Partners during the first quarter valued at about $94,000. 17.63% of the stock is owned by institutional investors and hedge funds.
Shell Midstream Partners Price Performance
Shares of NYSE:SHLX opened at $15.81 on Friday. The stock has a market capitalization of $6.22 billion, a price-to-earnings 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's fifty day moving average is $14.94 and its two-hundred day moving average is $14.33. The company has a debt-to-equity ratio of 3.74, a quick ratio of 1.18 and a current ratio of 1.18.
Shell Midstream Partners (NYSE:SHLX – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The pipeline company reported $0.33 earnings per share for the quarter. Shell Midstream Partners had a net margin of 97.11% and a return on equity of 98.64%. 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 earned $0.36 EPS. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. Equities analysts anticipate that Shell Midstream Partners will post 1.52 EPS for the current year.
Shell Midstream Partners Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Tuesday, August 2nd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date of this dividend was Monday, August 1st. Shell Midstream Partners's dividend payout ratio (DPR) is presently 99.17%.
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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