Brokerages forecast that Shell Midstream Partners (NYSE:SHLX) will announce sales of $142.13 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Shell Midstream Partners’ earnings, with estimates ranging from $120.40 million to $173.08 million. Shell Midstream Partners reported sales of $86.80 million in the same quarter last year, which indicates a positive year-over-year growth rate of 63.7%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 2nd.

According to Zacks, analysts expect that Shell Midstream Partners will report full year sales of $579.90 million for the current financial year, with estimates ranging from $469.80 million to $669.68 million. For the next fiscal year, analysts forecast that the company will post sales of $793.13 million per share, with estimates ranging from $483.50 million to $1.01 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Shell Midstream Partners.

Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings data on Thursday, May 3rd. The pipeline company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Shell Midstream Partners had a net margin of 70.78% and a negative return on equity of 300.60%. The business had revenue of $99.60 million during the quarter, compared to the consensus estimate of $101.76 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 41.9% compared to the same quarter last year.

A number of research firms have issued reports on SHLX. Stifel Nicolaus boosted their target price on shares of Shell Midstream Partners from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Wednesday. Royal Bank of Canada reduced their target price on shares of Shell Midstream Partners to $30.00 and set an “outperform” rating for the company in a research note on Monday, May 7th. ValuEngine lowered shares of Shell Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Deutsche Bank began coverage on shares of Shell Midstream Partners in a research note on Thursday, April 19th. They set a “buy” rating and a $26.00 target price for the company. Finally, Barclays set a $29.00 target price on shares of Shell Midstream Partners and gave the company a “hold” rating in a research note on Monday, April 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $29.50.

Shares of NYSE:SHLX opened at $23.83 on Thursday. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 2.18. Shell Midstream Partners has a fifty-two week low of $23.58 and a fifty-two week high of $23.75. The stock has a market cap of $5.28 billion, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.23.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Monday, May 7th were paid a dividend of $0.348 per share. This represents a $1.39 dividend on an annualized basis and a yield of 5.84%. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 4th. Shell Midstream Partners’s payout ratio is presently 108.59%.

Several large investors have recently modified their holdings of the company. Infrastructure Capital Advisors LLC lifted its stake in shares of Shell Midstream Partners by 10.4% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 25,902 shares of the pipeline company’s stock worth $545,000 after acquiring an additional 2,446 shares during the period. RiverPoint Capital Management LLC lifted its stake in shares of Shell Midstream Partners by 31.3% in the 4th quarter. RiverPoint Capital Management LLC now owns 12,600 shares of the pipeline company’s stock worth $376,000 after acquiring an additional 3,000 shares during the period. Icon Wealth Partners LLC lifted its stake in shares of Shell Midstream Partners by 22.2% in the 1st quarter. Icon Wealth Partners LLC now owns 16,923 shares of the pipeline company’s stock worth $356,000 after acquiring an additional 3,069 shares during the period. Advisory Research Inc. lifted its stake in shares of Shell Midstream Partners by 2.5% in the 4th quarter. Advisory Research Inc. now owns 202,530 shares of the pipeline company’s stock worth $6,039,000 after acquiring an additional 4,845 shares during the period. Finally, Stuart Chaussee & Associates Inc. acquired a new stake in shares of Shell Midstream Partners in the 4th quarter worth approximately $152,000. 48.32% of the stock is owned by institutional investors.

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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