Wall Street analysts predict that Shell Midstream Partners, L.P. (NYSE:SHLX) will report $0.35 earnings per share for the current quarter, Zacks reports. Two analysts have provided estimates for Shell Midstream Partners, L.P.’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.33. Shell Midstream Partners, L.P. reported earnings per share of $0.28 in the same quarter last year, which would suggest a positive year over year growth rate of 25%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.

On average, analysts expect that Shell Midstream Partners, L.P. will report full year earnings of $1.38 per share for the current year, with EPS estimates ranging from $1.32 to $1.48. For the next financial year, analysts forecast that the business will report earnings of $1.58 per share, with EPS estimates ranging from $1.34 to $1.79. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Shell Midstream Partners, L.P..

Shell Midstream Partners, L.P. (NYSE:SHLX) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.29 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 prior year, the firm posted $0.35 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis.

SHLX has been the topic of several research reports. BidaskClub downgraded Shell Midstream Partners, L.P. from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Royal Bank Of Canada reissued a “buy” rating and issued a $41.00 price target on shares of Shell Midstream Partners, L.P. in a research note on Monday, August 21st. Stifel Nicolaus reissued a “buy” rating and issued a $36.00 price target on shares of Shell Midstream Partners, L.P. in a research note on Friday, July 14th. Finally, Zacks Investment Research downgraded Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $37.83.

Several hedge funds have recently bought and sold shares of SHLX. Envestnet Asset Management Inc. lifted its stake in shares of Shell Midstream Partners, L.P. by 1.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock valued at $149,000 after purchasing an additional 63 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Shell Midstream Partners, L.P. by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock valued at $172,000 after purchasing an additional 398 shares during the period. Johnson Financial Group LLC acquired a new position in shares of Shell Midstream Partners, L.P. in the 2nd quarter valued at $218,000. BNP Paribas Arbitrage SA acquired a new position in shares of Shell Midstream Partners, L.P. in the 1st quarter valued at $239,000. Finally, Doliver Capital Advisors LP acquired a new position in shares of Shell Midstream Partners, L.P. in the 2nd quarter valued at $242,000. 46.02% of the stock is currently owned by institutional investors.

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Shares of Shell Midstream Partners, L.P. (SHLX) traded up 0.4588% during trading on Friday, hitting $28.0079. The company had a trading volume of 175,899 shares. The firm has a 50 day moving average of $27.31 and a 200 day moving average of $30.13. Shell Midstream Partners, L.P. has a 12-month low of $25.42 and a 12-month high of $34.17. The stock has a market cap of $4.97 billion, a PE ratio of 22.7152 and a beta of 1.17.

The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were paid a $0.3041 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Thursday, July 27th. Shell Midstream Partners, L.P.’s dividend payout ratio (DPR) is currently 98.39%.

Shell Midstream Partners, L.P. Company Profile

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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