Shell Midstream Partners, L.P. (NYSE:SHLX) Short Interest Up 34.3% in March


Share on StockTwits

Shell Midstream Partners, L.P. (NYSE:SHLX) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 4,500,000 shares, a growth of 34.3% from the March 15th total of 3,350,000 shares. Currently, 3.7% of the shares of the company are sold short. Based on an average daily trading volume, of 1,620,000 shares, the short-interest ratio is presently 2.8 days.

Shares of NYSE SHLX traded down $0.03 during mid-day trading on Friday, reaching $14.34. The company’s stock had a trading volume of 1,136,966 shares, compared to its average volume of 1,588,381. The stock has a 50-day moving average of $13.13 and a two-hundred day moving average of $11.01. The stock has a market capitalization of $5.64 billion, a P/E ratio of 10.62 and a beta of 1.74. The company has a debt-to-equity ratio of 4.21, a quick ratio of 4.66 and a current ratio of 4.66. Shell Midstream Partners has a 1-year low of $8.17 and a 1-year high of $16.18.

Shell Midstream Partners (NYSE:SHLX) last issued its earnings results on Thursday, February 18th. The pipeline company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.04). The business had revenue of $130.00 million during the quarter, compared to analyst estimates of $118.22 million. Shell Midstream Partners had a net margin of 104.82% and a negative return on equity of 1,010.10%. Shell Midstream Partners’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.37 earnings per share. Analysts predict that Shell Midstream Partners will post 1.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 12th. Stockholders of record on Tuesday, February 2nd were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 12.83%. The ex-dividend date of this dividend was Monday, February 1st. Shell Midstream Partners’s dividend payout ratio (DPR) is 110.18%.

SHLX has been the topic of a number of recent analyst reports. Barclays downgraded shares of Shell Midstream Partners from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $10.00 to $11.00 in a report on Wednesday, January 20th. Zacks Investment Research downgraded shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday, February 25th. Finally, Mizuho decreased their price objective on shares of Shell Midstream Partners from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $12.20.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. raised its position in shares of Shell Midstream Partners by 13.3% in the first quarter. Pacer Advisors Inc. now owns 6,847 shares of the pipeline company’s stock valued at $91,000 after buying an additional 804 shares during the last quarter. HighTower Advisors LLC increased its position in Shell Midstream Partners by 3.6% during the fourth quarter. HighTower Advisors LLC now owns 38,978 shares of the pipeline company’s stock worth $390,000 after purchasing an additional 1,360 shares during the last quarter. Vident Investment Advisory LLC increased its position in shares of Shell Midstream Partners by 2.0% during the fourth quarter. Vident Investment Advisory LLC now owns 93,620 shares of the pipeline company’s stock valued at $944,000 after acquiring an additional 1,823 shares during the last quarter. ADE LLC purchased a new position in shares of Shell Midstream Partners in the fourth quarter valued at approximately $25,000. Finally, IFP Advisors Inc lifted its stake in Shell Midstream Partners by 3,225.9% in the fourth quarter. IFP Advisors Inc now owns 2,827 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 2,742 shares during the last quarter. Institutional investors and hedge funds own 27.51% of the company’s stock.

About Shell Midstream Partners

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.

Recommended Story: What are municipal bonds?

Receive News & Ratings for Shell Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shell Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.