Brokerages expect Shell Midstream Partners LP (NYSE:SHLX) to post $154.79 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Shell Midstream Partners’ earnings, with estimates ranging from $134.40 million to $175.18 million. Shell Midstream Partners reported sales of $94.40 million in the same quarter last year, which indicates a positive year over year growth rate of 64%. The business is expected to announce its next quarterly earnings results on Friday, November 2nd.

According to Zacks, analysts expect that Shell Midstream Partners will report full year sales of $508.51 million for the current financial year, with estimates ranging from $424.00 million to $628.53 million. For the next financial year, analysts anticipate that the business will report sales of $612.46 million per share, with estimates ranging from $394.00 million to $862.48 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Shell Midstream Partners.

Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Shell Midstream Partners had a negative return on equity of 295.18% and a net margin of 74.14%. The firm had revenue of $129.30 million for the quarter, compared to the consensus estimate of $120.71 million. During the same period in the prior year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis.

Several brokerages have recently weighed in on SHLX. JPMorgan Chase & Co. reduced their price target on Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, August 24th. ValuEngine upgraded Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Friday, August 17th. Stifel Nicolaus reduced their price target on Shell Midstream Partners from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, August 3rd. Zacks Investment Research downgraded Shell Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Finally, Barclays reduced their price target on Shell Midstream Partners from $29.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $27.86.

Shares of NYSE SHLX opened at $22.75 on Wednesday. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of -6.59. Shell Midstream Partners has a fifty-two week low of $19.42 and a fifty-two week high of $31.19. The company has a market capitalization of $5.23 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 6.60 and a beta of 1.24.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Monday, August 6th were paid a $0.365 dividend. The ex-dividend date was Friday, August 3rd. This represents a $1.46 annualized dividend and a yield of 6.42%. This is a boost from Shell Midstream Partners’s previous quarterly dividend of $0.35. Shell Midstream Partners’s dividend payout ratio is 114.06%.

In other news, Director Curtis R. Frasier acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 26th. The shares were bought at an average price of $21.94 per share, with a total value of $109,700.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $109,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A number of large investors have recently made changes to their positions in the stock. Baldwin Brothers Inc. MA bought a new stake in Shell Midstream Partners during the 2nd quarter valued at $291,000. Icon Wealth Partners LLC boosted its position in Shell Midstream Partners by 22.2% during the 1st quarter. Icon Wealth Partners LLC now owns 16,923 shares of the pipeline company’s stock valued at $356,000 after acquiring an additional 3,069 shares in the last quarter. Botty Investors LLC boosted its position in Shell Midstream Partners by 525.0% during the 1st quarter. Botty Investors LLC now owns 17,801 shares of the pipeline company’s stock valued at $375,000 after acquiring an additional 14,953 shares in the last quarter. Tortoise Index Solutions LLC boosted its position in Shell Midstream Partners by 16.3% during the 2nd quarter. Tortoise Index Solutions LLC now owns 20,346 shares of the pipeline company’s stock valued at $451,000 after acquiring an additional 2,845 shares in the last quarter. Finally, Infrastructure Capital Advisors LLC boosted its position in Shell Midstream Partners by 10.4% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 25,902 shares of the pipeline company’s stock valued at $545,000 after acquiring an additional 2,446 shares in the last quarter. 54.83% of the stock is currently owned by institutional investors.

Shell Midstream Partners Company Profile

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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