Shell Midstream Partners, L.P. (SHLX) Issues Quarterly Earnings Results

Shell Midstream Partners, L.P. (NYSE:SHLX) issued its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05), Bloomberg Earnings reports. The firm had revenue of $94.40 million for the quarter, compared to analyst estimates of $86.36 million. Shell Midstream Partners, L.P. had a net margin of 85.14% and a return on equity of 3,826.80%. The firm’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 EPS.

Shell Midstream Partners, L.P. (NYSE:SHLX) traded up $0.80 during mid-day trading on Monday, hitting $26.29. 574,656 shares of the company traded hands, compared to its average volume of 361,211. The company has a debt-to-equity ratio of 42.36, a current ratio of 3.36 and a quick ratio of 3.36. Shell Midstream Partners, L.P. has a fifty-two week low of $24.68 and a fifty-two week high of $34.17. The firm has a market capitalization of $4,810.00, a P/E ratio of 20.07, a PEG ratio of 1.57 and a beta of 1.12.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 14th were given a $0.318 dividend. The ex-dividend date of this dividend was Monday, October 30th. This is a positive change from Shell Midstream Partners, L.P.’s previous quarterly dividend of $0.30. This represents a $1.27 annualized dividend and a dividend yield of 4.84%. Shell Midstream Partners, L.P.’s dividend payout ratio is presently 100.79%.

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Several research analysts recently commented on the stock. BidaskClub cut shares of Shell Midstream Partners, L.P. from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Zacks Investment Research cut shares of Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Royal Bank Of Canada restated a “buy” rating and set a $41.00 target price on shares of Shell Midstream Partners, L.P. in a report on Monday, August 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price target on shares of Shell Midstream Partners, L.P. in a research report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $34.50.

A hedge fund recently raised its stake in Shell Midstream Partners, L.P. stock. The Manufacturers Life Insurance Company boosted its position in shares of Shell Midstream Partners, L.P. (NYSE:SHLX) by 7.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,693 shares of the pipeline company’s stock after buying an additional 398 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Shell Midstream Partners, L.P. were worth $172,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 42.21% of the company’s stock.

About Shell Midstream Partners, L.P.

Shell Midstream Partners, L.P. is a master limited partnership company, which owns, operates, develops and acquires pipelines and other midstream assets. The Company conducts its operations through its subsidiary, Shell Midstream Operating, LLC. Its assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and to deliver refined products from those markets to demand centers.

Earnings History for Shell Midstream Partners, L.P. (NYSE:SHLX)

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