Shares of Shell Midstream Partners, L.P. (NYSE:SHLX) gapped up prior to trading on Friday . The stock had previously closed at $11.60, but opened at $11.98. Shell Midstream Partners shares last traded at $12.01, with a volume of 560 shares traded.
Several equities analysts recently commented on SHLX shares. Zacks Investment Research downgraded Shell Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 28th. Barclays lifted their target price on Shell Midstream Partners from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, August 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.60.
The company has a debt-to-equity ratio of 4.58, a current ratio of 5.82 and a quick ratio of 5.82. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 9.02 and a beta of 1.79. The firm has a 50-day moving average price of $12.35 and a 200 day moving average price of $13.81.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Tuesday, August 3rd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 10.08%. Shell Midstream Partners’s payout ratio is currently 96.00%.
In other Shell Midstream Partners news, insider Steven Ledbetter purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 9th. The shares were acquired at an average price of $12.28 per share, with a total value of $49,120.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
A number of institutional investors have recently added to or reduced their stakes in SHLX. Tortoise Capital Advisors L.L.C. lifted its stake in Shell Midstream Partners by 9,341.9% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 8,839,512 shares of the pipeline company’s stock worth $117,919,000 after purchasing an additional 8,745,892 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Shell Midstream Partners by 89.5% in the second quarter. Goldman Sachs Group Inc. now owns 3,602,709 shares of the pipeline company’s stock worth $53,212,000 after purchasing an additional 1,701,646 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Shell Midstream Partners by 7.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,487,293 shares of the pipeline company’s stock valued at $46,520,000 after acquiring an additional 247,115 shares during the period. First Trust Advisors LP increased its position in shares of Shell Midstream Partners by 645.7% in the second quarter. First Trust Advisors LP now owns 2,841,297 shares of the pipeline company’s stock valued at $41,966,000 after acquiring an additional 2,460,253 shares during the period. Finally, Morgan Stanley increased its position in shares of Shell Midstream Partners by 15.5% in the second quarter. Morgan Stanley now owns 2,226,685 shares of the pipeline company’s stock valued at $32,888,000 after acquiring an additional 298,091 shares during the period. Institutional investors and hedge funds own 19.29% of the company’s stock.
About Shell Midstream Partners (NYSE:SHLX)
Shell Midstream Partners LP owns, operates, develops, and acquires pipelines and other midstream assets. Its assets consist of entities which hold interest in crude oil and refined products pipelines and a crude tank storage and terminal system. The company was founded on March 19, 2014 and is headquartered in Houston, TX.
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