Shell Midstream Partners, L.P. (SHLX) Issues Quarterly Earnings Results
Shell Midstream Partners, L.P. (NYSE:SHLX) announced its quarterly earnings results on Friday. The pipeline company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05), Bloomberg Earnings reports. Shell Midstream Partners, L.P. had a net margin of 87.22% and a return on equity of 258.67%. The company had revenue of $94.40 million for the quarter, compared to analyst estimates of $86.36 million. During the same quarter last year, the business earned $0.28 EPS. The company’s revenue for the quarter was up 39.0% on a year-over-year basis.
Shares of Shell Midstream Partners, L.P. (NYSE:SHLX) opened at $26.36 on Friday. The stock has a market cap of $4,922.41, a price-to-earnings ratio of 20.76, a PEG ratio of 1.46 and a beta of 1.12. The company has a debt-to-equity ratio of -5.01, a current ratio of 3.30 and a quick ratio of 3.30. Shell Midstream Partners, L.P. has a 52 week low of $24.68 and a 52 week high of $34.17.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 14th will be paid a $0.318 dividend. This is an increase from Shell Midstream Partners, L.P.’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.27 annualized dividend and a dividend yield of 4.83%. Shell Midstream Partners, L.P.’s dividend payout ratio (DPR) is presently 100.00%.
An institutional investor recently raised its position in Shell Midstream Partners, L.P. stock. The Manufacturers Life Insurance Company lifted its stake in Shell Midstream Partners, L.P. (NYSE:SHLX) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,693 shares of the pipeline company’s stock after acquiring 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 reporting period. Institutional investors and hedge funds own 43.67% of the company’s stock.
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Several equities analysts have commented on SHLX shares. Stifel Nicolaus reiterated a “buy” rating and set a $36.00 price target on shares of Shell Midstream Partners, L.P. in a report on Friday, July 14th. Zacks Investment Research upgraded Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. BidaskClub downgraded Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $41.00 price target on shares of Shell Midstream Partners, L.P. in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.83.
Shell Midstream Partners, L.P. Company Profile
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.
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