Traders Purchase High Volume of Shell Midstream Partners Call Options (NYSE:SHLX)

Shell Midstream Partners (NYSE:SHLX) saw some unusual options trading activity on Tuesday. Traders purchased 1,428 call options on the company. This represents an increase of 1,328% compared to the typical daily volume of 100 call options.

Shares of SHLX traded down $0.48 during trading hours on Thursday, reaching $20.79. The stock had a trading volume of 560,679 shares, compared to its average volume of 1,120,635. Shell Midstream Partners has a 12 month low of $19.42 and a 12 month high of $33.25. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of -3.30. The stock has a market cap of $4,673.17, a P/E ratio of 16.24, a P/E/G ratio of 1.45 and a beta of 1.23.

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Shell Midstream Partners (NYSE:SHLX) last issued its earnings results on Tuesday, February 27th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $127.00 million for the quarter, compared to analysts’ expectations of $96.23 million. Shell Midstream Partners had a negative return on equity of 179.87% and a net margin of 78.08%. During the same period last year, the business earned $0.34 EPS. analysts expect that Shell Midstream Partners will post 1.44 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHLX. Tortoise Capital Advisors L.L.C. increased its position in shares of Shell Midstream Partners by 109.8% during the 3rd 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 purchasing an additional 10,695,678 shares during the last quarter. Alps Advisors Inc. increased its position 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 purchasing an additional 1,036,262 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position 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 purchasing an additional 534,342 shares during the last quarter. Chickasaw Capital Management LLC grew its stake 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 worth $277,369,000 after acquiring an additional 489,186 shares during the period. Finally, ING Groep NV grew its stake in shares of Shell Midstream Partners by 533.7% during the 3rd quarter. ING Groep NV now owns 554,496 shares of the pipeline company’s stock worth $15,437,000 after acquiring an additional 467,000 shares during the period. 44.94% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on SHLX shares. UBS reaffirmed a “buy” rating and issued a $38.00 price target (down previously from $40.00) on shares of Shell Midstream Partners in a research note on Friday, March 2nd. Citigroup dropped their price target on Shell Midstream Partners from $32.00 to $28.50 and set a “buy” rating for the company in a research note on Wednesday, March 28th. Mizuho reissued a “buy” rating and set a $30.00 target price on shares of Shell Midstream Partners in a research note on Monday, March 26th. Morgan Stanley lowered their target price on Shell Midstream Partners from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, March 29th. Finally, Stifel Nicolaus downgraded Shell Midstream Partners from a “buy” rating to a “hold” rating and upped their price objective for the company from $30.00 to $31.00 in a research note on Wednesday, January 17th. Two equities research analysts have 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 currently has a consensus rating of “Hold” and a consensus target price of $30.56.

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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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