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. The company stores and transports crude oil, refined, natural gas, and refinery gas products for various customers, including producers, refiners, marketers, and traders, as well as to other crude oil and refined products pipelines through its pipelines and storage tanks. Shell Midstream Partners GP LLC serves as the general partner of Shell Midstream Partners, L.P. The company was incorporated in 2014 and is headquartered in Houston, Texas. Shell Midstream Partners, L.P. is a subsidiary of Shell Pipeline Company LP.
Analyst Upgrades and Downgrades
Separately, Mizuho increased their price objective on shares of Shell Midstream Partners from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.75.
Shell Midstream Partners Stock Performance
Shares of Shell Midstream Partners stock opened at $15.82 on Monday. The stock has a market capitalization of $6.22 billion, a P/E ratio of 13.07 and a beta of 1.34. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.74. The company has a 50-day simple moving average of $14.50 and a 200 day simple moving average of $14.05. Shell Midstream Partners has a 12-month low of $10.76 and a 12-month high of $16.08.
Shell Midstream Partners (NYSE:SHLX - Get Rating) last announced its earnings results on Thursday, July 28th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.05). The firm had revenue of $149.00 million for the quarter, compared to analyst estimates of $132.81 million. Shell Midstream Partners had a return on equity of 98.64% and a net margin of 97.11%. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. Research analysts expect that Shell Midstream Partners will post 1.52 earnings per share for the current fiscal year.
Shell Midstream Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Tuesday, August 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 7.59%. The ex-dividend date is Monday, August 1st. Shell Midstream Partners's dividend payout ratio is currently 99.17%.