Shell Midstream Partners LP (NYSE:SHLX) was the target of unusually large options trading activity on Monday. Traders bought 2,421 put options on the stock. This represents an increase of 935% compared to the typical volume of 234 put options.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Stuart Chaussee & Associates Inc. acquired a new position in Shell Midstream Partners during the fourth quarter worth about $152,000. Saratoga Research & Investment Management acquired a new position in Shell Midstream Partners during the third quarter worth about $146,000. Cedar Wealth Management LLC boosted its position in Shell Midstream Partners by 129.4% during the third quarter. Cedar Wealth Management LLC now owns 5,230 shares of the pipeline company’s stock worth $146,000 after acquiring an additional 2,950 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Shell Midstream Partners by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after acquiring an additional 398 shares during the last quarter. Finally, Balentine LLC boosted its position in Shell Midstream Partners by 63.7% during the third quarter. Balentine LLC now owns 7,763 shares of the pipeline company’s stock worth $216,000 after acquiring an additional 3,021 shares during the last quarter. Hedge funds and other institutional investors own 45.00% of the company’s stock.
Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Stifel Nicolaus cut shares of Shell Midstream Partners from a “buy” rating to a “hold” rating and raised their target price for the stock from $30.00 to $31.00 in a report on Wednesday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 target price on shares of Shell Midstream Partners in a report on Friday, February 2nd. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $31.00 price objective (down previously from $32.00) on shares of Shell Midstream Partners in a report on Tuesday. Finally, Barclays cut their price objective on shares of Shell Midstream Partners from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.71.
Shell Midstream Partners (NYSE SHLX) traded down $0.51 during mid-day trading on Wednesday, hitting $24.89. 464,110 shares of the stock were exchanged, compared to its average volume of 1,071,022. The stock has a market capitalization of $5,736.30, a PE ratio of 19.45, a P/E/G ratio of 1.69 and a beta of 1.15. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of -3.30. Shell Midstream Partners has a twelve month low of $23.87 and a twelve month high of $33.34.
Shell Midstream Partners (NYSE:SHLX) last released its earnings results on Tuesday, February 27th. The pipeline company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $127.00 million during the quarter, compared to analysts’ expectations of $96.23 million. Shell Midstream Partners had a net margin of 78.08% and a negative return on equity of 179.87%. During the same quarter in the previous year, the company earned $0.34 earnings per share. equities research analysts expect that Shell Midstream Partners will post 1.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Monday, February 5th were given a dividend of $0.333 per share. The ex-dividend date was Friday, February 2nd. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.32. This represents a $1.33 dividend on an annualized basis and a yield of 5.35%. Shell Midstream Partners’s payout ratio is presently 103.91%.
About Shell Midstream Partners
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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