Brokerages expect that Shell Midstream Partners LP (NYSE:SHLX) will announce sales of $154.79 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Shell Midstream Partners’ earnings. The lowest sales estimate is $134.40 million and the highest is $175.18 million. Shell Midstream Partners posted sales of $94.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 64%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, November 1st.
According to Zacks, analysts expect that Shell Midstream Partners will report full-year sales of $468.51 million for the current financial year, with estimates ranging from $424.00 million to $497.70 million. For the next year, analysts expect that the firm will report sales of $529.11 million, with estimates ranging from $394.00 million to $675.74 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Shell Midstream Partners.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Shell Midstream Partners had a negative return on equity of 295.18% and a net margin of 74.14%. The company had revenue of $129.30 million during the quarter, compared to analysts’ expectations of $120.71 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm’s revenue was up 29.8% compared to the same quarter last year.
Shares of SHLX opened at $21.07 on Friday. Shell Midstream Partners has a one year low of $19.42 and a one year high of $31.19. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of -6.59. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 5.26 and a beta of 1.23.
Hedge funds have recently modified their holdings of the company. First Republic Investment Management Inc. acquired a new position in shares of Shell Midstream Partners in the 2nd quarter valued at about $3,105,000. Parkside Financial Bank & Trust acquired a new position in shares of Shell Midstream Partners in the 3rd quarter valued at about $833,000. Cadence Capital Management LLC lifted its holdings in shares of Shell Midstream Partners by 38.6% in the 2nd quarter. Cadence Capital Management LLC now owns 334,962 shares of the pipeline company’s stock valued at $7,429,000 after buying an additional 93,272 shares during the period. Conning Inc. lifted its holdings in shares of Shell Midstream Partners by 129.9% in the 2nd quarter. Conning Inc. now owns 84,209 shares of the pipeline company’s stock valued at $1,868,000 after buying an additional 47,582 shares during the period. Finally, Global X Management Co LLC lifted its holdings in shares of Shell Midstream Partners by 12.4% in the 2nd quarter. Global X Management Co LLC now owns 1,720,275 shares of the pipeline company’s stock valued at $38,156,000 after buying an additional 190,164 shares during the period. 54.82% of the stock is owned by institutional investors and hedge funds.
Shell Midstream Partners Company Profile
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.
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