Shell Midstream Partners LP (NYSE:SHLX) was the recipient of some unusual options trading on Tuesday. Investors acquired 1,428 call options on the stock. This is an increase of approximately 1,328% compared to the typical daily volume of 100 call options.
Several analysts have weighed in on the company. Zacks Investment Research raised Shell Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, March 14th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $31.00 target price (down previously from $32.00) on shares of Shell Midstream Partners in a research note on Tuesday, March 13th. UBS reaffirmed a “buy” rating and set a $38.00 target price (down previously from $40.00) on shares of Shell Midstream Partners in a research note on Friday, March 2nd. Stifel Nicolaus set a $26.00 target price on Shell Midstream Partners and gave the company a “hold” rating in a research note on Thursday, March 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Shell Midstream Partners in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Shell Midstream Partners has a consensus rating of “Hold” and an average price target of $31.71.
Several hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Shell Midstream Partners during the 4th quarter valued at $274,000. Brookfield Asset Management Inc. acquired a new position in shares of Shell Midstream Partners during the 4th quarter valued at $1,686,000. Westwood Holdings Group Inc. increased its position in shares of Shell Midstream Partners by 5.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,113,257 shares of the pipeline company’s stock valued at $63,017,000 after purchasing an additional 102,745 shares during the period. Cypress Wealth Advisors LLC acquired a new position in shares of Shell Midstream Partners during the 4th quarter valued at $3,036,000. Finally, Jane Street Group LLC acquired a new position in shares of Shell Midstream Partners during the 4th quarter valued at $247,000. Institutional investors own 44.87% of the company’s stock.
SHLX stock opened at $22.41 on Wednesday. Shell Midstream Partners has a 1 year low of $22.01 and a 1 year high of $33.34. The stock has a market capitalization of $5,098.43, a price-to-earnings ratio of 17.80, a PEG ratio of 1.48 and a beta of 1.15. The company has a debt-to-equity ratio of -3.30, a quick ratio of 3.71 and a current ratio of 3.71.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings results on Tuesday, February 27th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. Shell Midstream Partners had a negative return on equity of 179.87% and a net margin of 78.08%. The company had revenue of $127.00 million for the quarter, compared to analysts’ expectations of $96.23 million. During the same period last year, the firm earned $0.34 EPS. sell-side analysts predict that Shell Midstream Partners will post 1.54 earnings per share for the current year.
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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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