Shell Midstream Partners, L.P. (NYSE:SHLX) Short Interest Update

Shell Midstream Partners, L.P. (NYSE:SHLXGet Rating) saw a significant decline in short interest in the month of April. As of April 30th, there was short interest totalling 6,000,000 shares, a decline of 19.2% from the April 15th total of 7,430,000 shares. Based on an average daily trading volume, of 1,830,000 shares, the days-to-cover ratio is presently 3.3 days. Currently, 4.9% of the shares of the company are short sold.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. grew its position in Shell Midstream Partners by 3.5% in the fourth quarter. Alps Advisors Inc. now owns 16,129,311 shares of the pipeline company’s stock worth $185,810,000 after acquiring an additional 548,412 shares in the last quarter. JPMorgan Chase & Co. raised its position in Shell Midstream Partners by 53.6% during the first quarter. JPMorgan Chase & Co. now owns 8,893,794 shares of the pipeline company’s stock valued at $126,470,000 after purchasing an additional 3,103,162 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Shell Midstream Partners by 102.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,119,273 shares of the pipeline company’s stock valued at $87,016,000 after purchasing an additional 3,102,480 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Shell Midstream Partners by 24.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,603,811 shares of the pipeline company’s stock worth $79,686,000 after purchasing an additional 1,098,074 shares during the period. Finally, Morgan Stanley increased its position in shares of Shell Midstream Partners by 48.5% during the 3rd quarter. Morgan Stanley now owns 3,305,592 shares of the pipeline company’s stock valued at $38,907,000 after purchasing an additional 1,078,907 shares during the last quarter. Hedge funds and other institutional investors own 17.63% of the company’s stock.

SHLX has been the topic of several recent research reports. Barclays downgraded shares of Shell Midstream Partners from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $14.00 to $13.00 in a research report on Thursday, January 20th. Zacks Investment Research raised Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Thursday, April 21st. Credit Suisse Group increased their target price on Shell Midstream Partners from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, February 25th. Jonestrading cut Shell Midstream Partners from a “buy” rating to a “hold” rating in a report on Tuesday, February 15th. Finally, StockNews.com initiated coverage on shares of Shell Midstream Partners in a report on Thursday, March 31st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Shell Midstream Partners presently has a consensus rating of “Hold” and a consensus target price of $13.80.

NYSE:SHLX traded down $0.06 during trading hours on Thursday, reaching $13.78. The stock had a trading volume of 4,347 shares, compared to its average volume of 1,377,969. The stock has a market capitalization of $5.50 billion, a PE ratio of 11.16 and a beta of 1.41. Shell Midstream Partners has a 52 week low of $10.76 and a 52 week high of $16.10. The company has a 50 day moving average price of $14.09 and a two-hundred day moving average price of $13.03. The company has a debt-to-equity ratio of 3.89, a quick ratio of 1.05 and a current ratio of 1.05.

Shell Midstream Partners (NYSE:SHLXGet Rating) last posted its earnings results on Thursday, April 28th. The pipeline company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). The business had revenue of $135.00 million during the quarter, compared to analysts’ expectations of $134.86 million. Shell Midstream Partners had a net margin of 99.82% and a return on equity of 102.13%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.37 earnings per share. Equities research analysts predict that Shell Midstream Partners will post 1.5 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Tuesday, May 3rd were issued a $0.30 dividend. The ex-dividend date was Monday, May 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.71%. Shell Midstream Partners’s dividend payout ratio (DPR) is presently 96.77%.

About Shell Midstream Partners (Get Rating)

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.

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