Shell Midstream Partners, L.P. (SHLX) Plans Quarterly Dividend of $0.30
Shell Midstream Partners, L.P. (NYSE:SHLX) announced a quarterly dividend on Thursday, July 20th, Fidelity reports. Stockholders of record on Monday, July 31st will be paid a dividend of 0.3041 per share by the pipeline company on Monday, August 14th. This represents a $1.22 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Thursday, July 27th.
Shell Midstream Partners, L.P. has a dividend payout ratio of 84.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Shell Midstream Partners, L.P. to earn $1.61 per share next year, which means the company should continue to be able to cover its $1.22 annual dividend with an expected future payout ratio of 75.8%.
Shares of Shell Midstream Partners, L.P. (NYSE:SHLX) opened at 26.81 on Wednesday. Shell Midstream Partners, L.P. has a 12 month low of $25.42 and a 12 month high of $34.17. The company has a market capitalization of $4.75 billion, a PE ratio of 20.80 and a beta of 1.17. The stock’s 50 day moving average price is $29.22 and its 200 day moving average price is $31.14.
Shell Midstream Partners, L.P. (NYSE:SHLX) last released its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.02. Shell Midstream Partners, L.P. had a return on equity of 258.67% and a net margin of 87.22%. The firm had revenue of $86.80 million during the quarter, compared to the consensus estimate of $69.55 million. During the same period in the previous year, the firm earned $0.35 EPS. The business’s revenue was up 22.1% compared to the same quarter last year. On average, analysts forecast that Shell Midstream Partners, L.P. will post $1.41 EPS for the current year.
A number of analysts have issued reports on the company. BidaskClub raised Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research downgraded Shell Midstream Partners, L.P. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Shell Midstream Partners, L.P. in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Shell Midstream Partners, L.P. presently has an average rating of “Hold” and a consensus target price of $37.83.
About Shell Midstream Partners, L.P.
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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