Shell Midstream Partners Sees Unusually Large Options Volume (SHLX)
Shell Midstream Partners LP (NYSE:SHLX) saw unusually large options trading on Monday. Stock traders acquired 1,064 call options on the company. This is an increase of 1,512% compared to the average daily volume of 66 call options.
A number of institutional investors have recently added to or reduced their stakes in the stock. Evercore Wealth Management LLC acquired a new position in Shell Midstream Partners in the third quarter valued at $321,000. First Republic Investment Management Inc. increased its stake in Shell Midstream Partners by 9.9% in the third quarter. First Republic Investment Management Inc. now owns 153,788 shares of the pipeline company’s stock valued at $3,288,000 after purchasing an additional 13,808 shares during the last quarter. BP Capital Fund Advisors LLC increased its stake in Shell Midstream Partners by 7.2% in the third quarter. BP Capital Fund Advisors LLC now owns 277,251 shares of the pipeline company’s stock valued at $5,816,000 after purchasing an additional 18,659 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Shell Midstream Partners in the third quarter valued at $39,268,000. Finally, Advisory Research Inc. increased its stake in Shell Midstream Partners by 8.6% in the third quarter. Advisory Research Inc. now owns 4,420,728 shares of the pipeline company’s stock valued at $94,515,000 after purchasing an additional 349,010 shares during the last quarter. Hedge funds and other institutional investors own 53.60% of the company’s stock.
SHLX has been the subject of a number of analyst reports. Credit Suisse Group initiated coverage on Shell Midstream Partners in a report on Thursday, October 11th. They issued a “neutral” rating and a $24.00 price target for the company. ValuEngine raised Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Thursday, October 11th. Zacks Investment Research cut Shell Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, September 1st. JPMorgan Chase & Co. cut their price target on Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 24th. Finally, Wells Fargo & Co cut their price target on Shell Midstream Partners from $24.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, September 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Shell Midstream Partners currently has a consensus rating of “Hold” and a consensus price target of $26.27.
Shell Midstream Partners (NYSE:SHLX) last released its earnings results on Thursday, November 1st. The pipeline company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The firm had revenue of $153.50 million during the quarter, compared to analyst estimates of $137.00 million. Shell Midstream Partners had a negative return on equity of 215.59% and a net margin of 80.40%. During the same period in the prior year, the firm posted $0.31 earnings per share. Research analysts predict that Shell Midstream Partners will post 1.45 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Monday, November 5th will be paid a $0.382 dividend. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.37. This represents a $1.53 annualized dividend and a yield of 8.05%. The ex-dividend date is Friday, November 2nd. Shell Midstream Partners’s dividend payout ratio is presently 119.53%.
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About Shell Midstream Partners
Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. Its crude oil pipeline systems include a 350 miles of Zydeco pipeline system; a 130-miles of delta pipeline; a 174-mile offshore Gulf of Mexico corridor pipeline; and a 75-mile offshore pipeline.
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