Equities research analysts expect Shell Midstream Partners (NYSE:SHLX) to announce earnings of $0.33 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Shell Midstream Partners’ earnings. The lowest EPS estimate is $0.30 and the highest is $0.39. Shell Midstream Partners posted earnings per share of $0.29 in the same quarter last year, which indicates a positive year-over-year growth rate of 13.8%. The business is expected to announce its next quarterly earnings report on Thursday, August 2nd.
On average, analysts expect that Shell Midstream Partners will report full-year earnings of $1.29 per share for the current year, with EPS estimates ranging from $1.22 to $1.39. For the next financial year, analysts forecast that the business will report earnings of $1.77 per share, with EPS estimates ranging from $1.32 to $2.74. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Shell Midstream Partners.
Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings results on Thursday, May 3rd. The pipeline company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.02. Shell Midstream Partners had a negative return on equity of 300.60% and a net margin of 70.78%. The company had revenue of $99.60 million during the quarter, compared to analysts’ expectations of $101.76 million. During the same period in the prior year, the company earned $0.33 EPS. Shell Midstream Partners’s revenue was up 41.9% compared to the same quarter last year.
Several research analysts recently issued reports on SHLX shares. Citigroup lowered their target price on Shell Midstream Partners from $32.00 to $28.50 and set a “buy” rating for the company in a research report on Wednesday, March 28th. Mizuho reaffirmed a “buy” rating and set a $30.00 target price on shares of Shell Midstream Partners in a research report on Monday, March 26th. Deutsche Bank started coverage on Shell Midstream Partners in a research report on Thursday, April 19th. They set a “buy” rating and a $26.00 target price for the company. UBS reaffirmed a “buy” rating and set a $38.00 target price (down from $40.00) on shares of Shell Midstream Partners in a research report on Friday, March 2nd. Finally, Morgan Stanley lowered their target price on Shell Midstream Partners from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, March 29th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Shell Midstream Partners currently has a consensus rating of “Hold” and a consensus price target of $29.50.
A number of institutional investors have recently modified their holdings of the business. Summit Trail Advisors LLC grew its holdings in Shell Midstream Partners by 62.4% during the 1st quarter. Summit Trail Advisors LLC now owns 50,061 shares of the pipeline company’s stock worth $921,000 after acquiring an additional 19,231 shares during the period. Atlantic Trust Group LLC grew its holdings in Shell Midstream Partners by 70.9% during the 1st quarter. Atlantic Trust Group LLC now owns 2,140,826 shares of the pipeline company’s stock worth $45,064,000 after acquiring an additional 888,185 shares during the period. Brookfield Asset Management Inc. grew its holdings in Shell Midstream Partners by 4,558.5% during the 1st quarter. Brookfield Asset Management Inc. now owns 2,633,292 shares of the pipeline company’s stock worth $55,431,000 after acquiring an additional 2,576,765 shares during the period. Zimmer Partners LP acquired a new stake in Shell Midstream Partners during the 1st quarter worth about $7,066,000. Finally, Mariner LLC acquired a new stake in Shell Midstream Partners during the 1st quarter worth about $1,670,000. Hedge funds and other institutional investors own 55.72% of the company’s stock.
Shares of Shell Midstream Partners traded down $0.25, reaching $23.75, during trading hours on Tuesday, according to Marketbeat.com. The stock had a trading volume of 1,169,400 shares, compared to its average volume of 1,049,960. Shell Midstream Partners has a 12 month low of $19.42 and a 12 month high of $31.52. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 3.35 and a beta of 1.23. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.26 and a current ratio of 3.26.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Monday, May 7th were issued a dividend of $0.348 per share. This is an increase from Shell Midstream Partners’s previous quarterly dividend of $0.33. This represents a $1.39 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date was Friday, May 4th. Shell Midstream Partners’s dividend payout ratio (DPR) is presently 108.59%.
About Shell Midstream Partners
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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