Insider Buying: Shell Midstream Partners LP (SHLX) Director Purchases 4,000 Shares of Stock
Shell Midstream Partners LP (NYSE:SHLX) Director Margaret C. Montana acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The shares were acquired at an average cost of $25.95 per share, for a total transaction of $103,800.00. Following the purchase, the director now directly owns 13,030 shares in the company, valued at approximately $338,128.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Shell Midstream Partners LP (NYSE:SHLX) opened at 25.99 on Wednesday. The stock has a 50 day moving average price of $28.58 and a 200 day moving average price of $31.53. The company has a market cap of $4.61 billion, a PE ratio of 19.47 and a beta of 1.21. Shell Midstream Partners LP has a one year low of $25.46 and a one year high of $42.29.
Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.09. The company had revenue of $67.90 million for the quarter, compared to the consensus estimate of $78.62 million. Shell Midstream Partners had a return on equity of 56.13% and a net margin of 77.39%. Shell Midstream Partners’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. On average, equities analysts anticipate that Shell Midstream Partners LP will post $1.40 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were given a dividend of $0.264 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, October 27th. This is a boost from Shell Midstream Partners’s previous quarterly dividend of $0.25. Shell Midstream Partners’s dividend payout ratio is 78.95%.
Several analysts recently commented on SHLX shares. Zacks Investment Research raised Shell Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th. Barclays PLC dropped their price objective on Shell Midstream Partners from $51.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, July 28th. Stifel Nicolaus started coverage on Shell Midstream Partners in a research note on Thursday, August 18th. They set a “buy” rating and a $35.00 price objective on the stock. Mizuho started coverage on Shell Midstream Partners in a research note on Thursday, September 29th. They set a “buy” rating and a $37.00 price objective on the stock. Finally, UBS AG reaffirmed a “buy” rating and set a $47.00 price objective (down previously from $49.00) on shares of Shell Midstream Partners in a research note on Tuesday, November 8th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Shell Midstream Partners has a consensus rating of “Buy” and a consensus price target of $39.44.
Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in Shell Midstream Partners during the third quarter worth about $147,000. Balentine LLC bought a new position in Shell Midstream Partners during the second quarter worth about $156,000. Quantbot Technologies LP boosted its position in Shell Midstream Partners by 55.2% in the second quarter. Quantbot Technologies LP now owns 5,570 shares of the company’s stock worth $188,000 after buying an additional 1,981 shares during the period. Linscomb & Williams Inc. boosted its position in Shell Midstream Partners by 3.3% in the second quarter. Linscomb & Williams Inc. now owns 6,417 shares of the company’s stock worth $217,000 after buying an additional 206 shares during the period. Finally, M&T Bank Corp boosted its position in Shell Midstream Partners by 5.8% in the second quarter. M&T Bank Corp now owns 6,612 shares of the company’s stock worth $223,000 after buying an additional 360 shares during the period. 81.76% of the stock is currently owned by institutional investors.
Shell Midstream Partners Company Profile
Shell Midstream Partners, L.P. is a master limited partnership company formed to own, operate, develop and acquire pipelines and other midstream assets. The Company has interests in approximately four crude oil pipeline systems, approximately two refined products systems and a crude tank storage and terminal system.
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