Wall Street brokerages forecast that Shell Midstream Partners LP (NYSE:SHLX) will announce earnings per share (EPS) of $0.24 for the current quarter, Zacks reports. Two analysts have made estimates for Shell Midstream Partners’ earnings. The lowest EPS estimate is $0.20 and the highest is $0.28. Shell Midstream Partners reported earnings of $0.33 per share during the same quarter last year, which would indicate a negative year over year growth rate of 27.3%. The firm is expected to announce its next earnings results on Friday, May 4th.
According to Zacks, analysts expect that Shell Midstream Partners will report full-year earnings of $1.54 per share for the current year, with EPS estimates ranging from $1.20 to $2.17. For the next fiscal year, analysts anticipate that the company will post earnings of $1.88 per share, with EPS estimates ranging from $1.38 to $2.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Shell Midstream Partners.
Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings results on Tuesday, February 27th. The pipeline company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Shell Midstream Partners had a net margin of 78.08% and a negative return on equity of 179.87%. The firm had revenue of $127.00 million for the quarter, compared to the consensus estimate of $96.23 million. During the same period last year, the firm posted $0.34 earnings per share.
Several brokerages have recently issued reports on SHLX. Citigroup cut their target price on shares of Shell Midstream Partners from $32.00 to $28.50 and set a “buy” rating on the stock in a report on Wednesday. Zacks Investment Research upgraded shares of Shell Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Mizuho restated a “buy” rating and issued a $30.00 target price on shares of Shell Midstream Partners in a report on Monday. JPMorgan Chase & Co. restated an “overweight” rating and issued a $31.00 target price (down previously from $32.00) on shares of Shell Midstream Partners in a report on Tuesday, March 13th. Finally, Stifel Nicolaus set a $30.00 target price on shares of Shell Midstream Partners and gave the stock a “buy” rating in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.06.
A number of large investors have recently added to or reduced their stakes in SHLX. Tortoise Capital Advisors L.L.C. boosted its holdings in Shell Midstream Partners by 109.8% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 20,435,426 shares of the pipeline company’s stock valued at $568,922,000 after acquiring an additional 10,695,678 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of Shell Midstream Partners by 14.4% during the 4th quarter. Alps Advisors Inc. now owns 8,254,680 shares of the pipeline company’s stock valued at $246,155,000 after buying an additional 1,036,262 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Shell Midstream Partners by 12.9% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,690,840 shares of the pipeline company’s stock valued at $139,866,000 after buying an additional 534,342 shares in the last quarter. Chickasaw Capital Management LLC boosted its holdings in shares of Shell Midstream Partners by 5.6% during the 4th quarter. Chickasaw Capital Management LLC now owns 9,301,433 shares of the pipeline company’s stock valued at $277,369,000 after buying an additional 489,186 shares in the last quarter. Finally, Atlantic Trust Group LLC boosted its holdings in shares of Shell Midstream Partners by 40.2% during the 3rd quarter. Atlantic Trust Group LLC now owns 1,444,767 shares of the pipeline company’s stock valued at $40,223,000 after buying an additional 414,216 shares in the last quarter. Institutional investors and hedge funds own 44.87% of the company’s stock.
Shares of Shell Midstream Partners stock traded down $0.01 during trading on Friday, hitting $20.63. 639,375 shares of the stock traded hands, compared to its average volume of 1,153,230. The company has a debt-to-equity ratio of -3.30, a current ratio of 3.71 and a quick ratio of 3.71. Shell Midstream Partners has a 1 year low of $20.08 and a 1 year high of $33.34. The company has a market capitalization of $4,646.32, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.35 and a beta of 1.15.
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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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