Zacks: Brokerages Expect Shell Midstream Partners, L.P. (SHLX) Will Post Earnings of $0.35 Per Share

Equities analysts expect that Shell Midstream Partners, L.P. (NYSE:SHLX) will report $0.35 earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Shell Midstream Partners, L.P.’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.28. Shell Midstream Partners, L.P. posted earnings of $0.28 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The firm is expected to announce its next quarterly earnings report before the market opens on Friday, November 3rd.

On average, analysts expect that Shell Midstream Partners, L.P. will report full year earnings of $1.35 per share for the current year, with EPS estimates ranging from $1.26 to $1.48. For the next fiscal year, analysts expect that the business will post earnings of $1.61 per share, with EPS estimates ranging from $1.35 to $1.79. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Shell Midstream Partners, L.P..

Shell Midstream Partners, L.P. (NYSE:SHLX) last posted its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.02). Shell Midstream Partners, L.P. had a net margin of 87.22% and a return on equity of 258.67%. The business had revenue of $86.80 million during the quarter, compared to analysts’ expectations of $69.55 million. During the same quarter in the previous year, the business posted $0.35 EPS. The company’s quarterly revenue was up 22.1% on a year-over-year basis.

SHLX has been the subject of several research reports. Royal Bank Of Canada reiterated a “buy” rating and set a $41.00 price target on shares of Shell Midstream Partners, L.P. in a report on Wednesday, September 27th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 target price on shares of Shell Midstream Partners, L.P. in a report on Friday, September 15th. Zacks Investment Research upgraded Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, BidaskClub upgraded Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Shell Midstream Partners, L.P. has a consensus rating of “Buy” and an average target price of $36.83.

Shell Midstream Partners, L.P. (SHLX) traded down 0.41% on Tuesday, reaching $27.05. 147,005 shares of the company traded hands. The firm has a 50 day moving average price of $27.77 and a 200 day moving average price of $29.45. Shell Midstream Partners, L.P. has a 52-week low of $25.42 and a 52-week high of $34.17. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 21.94 and a beta of 1.17.

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its holdings in Shell Midstream Partners, L.P. by 7.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 120,886 shares of the pipeline company’s stock worth $3,663,000 after purchasing an additional 8,892 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Shell Midstream Partners, L.P. in the 2nd quarter worth approximately $1,030,000. Blair William & Co. IL lifted its holdings in Shell Midstream Partners, L.P. by 1.1% in the 2nd quarter. Blair William & Co. IL now owns 152,772 shares of the pipeline company’s stock worth $4,629,000 after purchasing an additional 1,615 shares during the last quarter. Johnson Financial Group LLC acquired a new stake in Shell Midstream Partners, L.P. in the 2nd quarter worth approximately $218,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Shell Midstream Partners, L.P. by 15.1% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,130,620 shares of the pipeline company’s stock worth $64,558,000 after purchasing an additional 280,018 shares during the last quarter. Hedge funds and other institutional investors own 43.76% of the company’s stock.

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About Shell Midstream Partners, L.P.

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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