Shell Midstream Partners LP (NYSE:SHLX) was the target of unusually large options trading on Thursday. Stock investors purchased 2,541 call options on the company. This is an increase of 2,018% compared to the average daily volume of 120 call options.

In related news, Director Curtis R. Frasier bought 5,000 shares of the company’s stock in a transaction dated Tuesday, June 26th. The stock was acquired at an average cost of $21.94 per share, with a total value of $109,700.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $109,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of hedge funds have recently added to or reduced their stakes in SHLX. Wells Fargo & Company MN increased its holdings in Shell Midstream Partners by 65.5% during the 1st quarter. Wells Fargo & Company MN now owns 387,518 shares of the pipeline company’s stock valued at $8,157,000 after purchasing an additional 153,419 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in Shell Midstream Partners by 58.4% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 7,432,590 shares of the pipeline company’s stock valued at $156,438,000 after purchasing an additional 2,741,750 shares in the last quarter. Northern Trust Corp increased its holdings in Shell Midstream Partners by 3.0% during the 1st quarter. Northern Trust Corp now owns 207,281 shares of the pipeline company’s stock valued at $4,363,000 after purchasing an additional 6,078 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Shell Midstream Partners by 25.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 40,830 shares of the pipeline company’s stock valued at $860,000 after purchasing an additional 8,357 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Shell Midstream Partners by 29.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,731,961 shares of the pipeline company’s stock valued at $57,508,000 after purchasing an additional 629,133 shares in the last quarter. 54.82% of the stock is owned by hedge funds and other institutional investors.

SHLX has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 24th. Zacks Investment Research cut Shell Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, September 1st. ValuEngine cut Shell Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 29th. Barclays dropped their target price on Shell Midstream Partners from $29.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. Finally, Bank of America initiated coverage on Shell Midstream Partners in a report on Tuesday, July 10th. They issued a “buy” rating and a $27.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Shell Midstream Partners presently has an average rating of “Buy” and an average price target of $27.38.

SHLX stock opened at $21.98 on Friday. Shell Midstream Partners has a fifty-two week low of $19.42 and a fifty-two week high of $31.19. The firm has a market cap of $4.89 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 5.38 and a beta of 1.22. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of -6.59.

Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $0.35 earnings per share for the quarter, beating 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 firm had revenue of $129.30 million during the quarter, compared to analysts’ expectations of $120.71 million. During the same period last year, the firm posted $0.18 EPS. The business’s revenue was up 29.8% on a year-over-year basis. equities research analysts expect that Shell Midstream Partners will post 1.36 EPS for the current fiscal year.

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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