Shell Midstream Partners (NYSE:SHLX) Sees Unusually-High Trading Volume

Shell Midstream Partners, L.P. (NYSE:SHLXGet Rating) shares saw strong trading volume on Tuesday . 141,459 shares changed hands during mid-day trading, a decline of 89% from the previous session’s volume of 1,279,441 shares.The stock last traded at $15.84 and had previously closed at $15.83.

Wall Street Analyst Weigh In

Separately, Mizuho upped their target price on 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 equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.75.

Shell Midstream Partners Stock Up 0.1 %

The business has a 50-day simple moving average of $15.41 and a two-hundred day simple moving average of $14.55. The stock has a market capitalization of $6.23 billion, a P/E ratio of 13.09 and a beta of 1.32. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.74.

Shell Midstream Partners (NYSE:SHLXGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The pipeline company reported $0.33 earnings per share for the quarter. Shell Midstream Partners had a return on equity of 98.64% and a net margin of 97.11%. The firm had revenue of $149.00 million for the quarter, compared to analysts’ expectations of $132.81 million. During the same period in the prior year, the business posted $0.36 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. Equities research analysts forecast that Shell Midstream Partners, L.P. will post 1.52 earnings per share for the current fiscal year.

Shell Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Tuesday, August 2nd were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date was Monday, August 1st. Shell Midstream Partners’s dividend payout ratio (DPR) is 99.17%.

Institutional Trading of Shell Midstream Partners

A number of large investors have recently bought and sold shares of SHLX. Van ECK Associates Corp lifted its stake in shares of Shell Midstream Partners by 9.9% during the first quarter. Van ECK Associates Corp now owns 13,745 shares of the pipeline company’s stock valued at $195,000 after acquiring an additional 1,233 shares during the period. HighTower Advisors LLC lifted its stake in Shell Midstream Partners by 1.1% in the first quarter. HighTower Advisors LLC now owns 136,608 shares of the pipeline company’s stock valued at $1,944,000 after buying an additional 1,450 shares during the period. Selective Wealth Management Inc. lifted its stake in Shell Midstream Partners by 66.7% in the second quarter. Selective Wealth Management Inc. now owns 5,000 shares of the pipeline company’s stock valued at $70,000 after buying an additional 2,000 shares during the period. GraniteShares Advisors LLC lifted its stake in Shell Midstream Partners by 3.0% in the second quarter. GraniteShares Advisors LLC now owns 72,748 shares of the pipeline company’s stock valued at $1,023,000 after buying an additional 2,100 shares during the period. Finally, Teacher Retirement System of Texas lifted its stake in Shell Midstream Partners by 10.4% in the fourth quarter. Teacher Retirement System of Texas now owns 26,020 shares of the pipeline company’s stock valued at $300,000 after buying an additional 2,445 shares during the period.

Shell Midstream Partners Company Profile

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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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