Shell Midstream Partners (SHLX) to Release Earnings on Thursday

Shell Midstream Partners (NYSE:SHLXGet Rating) will be releasing its earnings data after the market closes on Thursday, April 28th. Analysts expect Shell Midstream Partners to post earnings of $0.36 per share for the quarter.

Shell Midstream Partners (NYSE:SHLXGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The company had revenue of $141.00 million during the quarter, compared to analysts’ expectations of $130.73 million. Shell Midstream Partners had a return on equity of 103.11% and a net margin of 100.00%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share. On average, analysts expect Shell Midstream Partners to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of NYSE SHLX traded down $0.10 during midday trading on Tuesday, reaching $14.01. 9,270 shares of the company traded hands, compared to its average volume of 1,757,314. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 11.21 and a beta of 1.52. The business’s 50-day moving average price is $14.04. Shell Midstream Partners has a 12 month low of $10.76 and a 12 month high of $16.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 4.09.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Tuesday, May 3rd will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, May 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.57%. Shell Midstream Partners’s payout ratio is presently 96.00%.

A number of research analysts recently issued reports on the company. Bank of America lifted their price target on Shell Midstream Partners from $12.50 to $13.00 and gave the company an “underperform” rating in a report on Tuesday, January 18th. Barclays cut Shell Midstream Partners from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $14.00 to $13.00 in a report on Thursday, January 20th. Zacks Investment Research raised Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Thursday, April 21st. Credit Suisse Group boosted their price objective on Shell Midstream Partners from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, February 25th. Finally, StockNews.com initiated coverage on Shell Midstream Partners in a report on Thursday, March 31st. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Shell Midstream Partners has a consensus rating of “Hold” and a consensus price target of $13.83.

Several institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers grew its position in shares of Shell Midstream Partners by 13.3% during the 4th quarter. Cetera Investment Advisers now owns 12,814 shares of the pipeline company’s stock worth $148,000 after buying an additional 1,502 shares during the period. Vident Investment Advisory LLC grew its position in shares of Shell Midstream Partners by 5.8% during the 4th quarter. Vident Investment Advisory LLC now owns 97,285 shares of the pipeline company’s stock worth $1,121,000 after buying an additional 5,360 shares during the period. Virtu Financial LLC grew its position in shares of Shell Midstream Partners by 112.6% during the 4th quarter. Virtu Financial LLC now owns 23,503 shares of the pipeline company’s stock worth $271,000 after buying an additional 12,447 shares during the period. Morgan Stanley grew its position in shares of Shell Midstream Partners by 15.5% during the 2nd quarter. Morgan Stanley now owns 2,226,685 shares of the pipeline company’s stock worth $32,888,000 after buying an additional 298,091 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Shell Midstream Partners by 34.1% during the 4th quarter. Wells Fargo & Company MN now owns 2,857,569 shares of the pipeline company’s stock worth $32,919,000 after buying an additional 726,208 shares during the period. Institutional investors own 18.56% of the company’s stock.

About Shell Midstream Partners (Get Rating)

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.

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Earnings History for Shell Midstream Partners (NYSE:SHLX)

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