Shell Midstream Partners LP (SHLX) Expected to Announce Earnings of $0.36 Per Share

Wall Street brokerages predict that Shell Midstream Partners LP (NYSE:SHLX) will announce earnings of $0.36 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Shell Midstream Partners’ earnings, with estimates ranging from $0.32 to $0.39. Shell Midstream Partners posted earnings of $0.29 per share in the same quarter last year, which would suggest a positive year over year growth rate of 24.1%. The business is scheduled to issue its next quarterly earnings report on Thursday, August 2nd.

On average, analysts expect that Shell Midstream Partners will report full-year earnings of $1.30 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.39. For the next financial year, analysts anticipate that the business will post earnings of $1.70 per share, with EPS estimates ranging from $1.35 to $2.25. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Shell Midstream Partners.

Shell Midstream Partners (NYSE:SHLX) last issued its earnings results on Thursday, May 3rd. The pipeline company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $99.60 million during the quarter, compared to analyst estimates of $101.76 million. Shell Midstream Partners had a negative return on equity of 300.60% and a net margin of 70.78%. The business’s revenue was up 41.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS.

Several research analysts have recently commented on SHLX shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $31.00 target price (down previously from $32.00) on shares of Shell Midstream Partners in a research report on Tuesday, March 13th. Zacks Investment Research upgraded Shell Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Mizuho reissued a “buy” rating and issued a $30.00 price target on shares of Shell Midstream Partners in a report on Monday, March 26th. Citigroup cut their price target on Shell Midstream Partners from $32.00 to $28.50 and set a “buy” rating on the stock in a report on Wednesday, March 28th. Finally, Morgan Stanley cut their price target on Shell Midstream Partners from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, March 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.75.

In other Shell Midstream Partners news, Director Curtis R. Frasier bought 5,000 shares of the business’s stock in a transaction on Tuesday, June 26th. The shares were purchased at an average price of $21.94 per share, with a total value of $109,700.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $109,700. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shawn J. Carsten bought 2,500 shares of the business’s stock in a transaction on Thursday, May 24th. The shares were acquired at an average cost of $23.38 per share, for a total transaction of $58,450.00. Following the purchase, the chief financial officer now directly owns 2,500 shares in the company, valued at $58,450. The disclosure for this purchase can be found here.

Several hedge funds have recently modified their holdings of the company. Infrastructure Capital Advisors LLC increased its position in shares of 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 purchasing an additional 2,446 shares during the period. Icon Wealth Partners LLC increased its position in shares of 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 purchasing an additional 3,069 shares during the period. Northern Trust Corp increased its position in shares of Shell Midstream Partners by 3.0% during the 1st quarter. Northern Trust Corp now owns 207,281 shares of the pipeline company’s stock valued at $4,363,000 after purchasing an additional 6,078 shares during the period. Venturi Wealth Management LLC increased its position in shares of Shell Midstream Partners by 10.0% during the 1st quarter. Venturi Wealth Management LLC now owns 85,998 shares of the pipeline company’s stock valued at $1,810,000 after purchasing an additional 7,824 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Shell Midstream Partners during the 4th quarter valued at $247,000. Institutional investors own 55.57% of the company’s stock.

Shares of Shell Midstream Partners traded down $0.16, hitting $22.48, during mid-day trading on Friday, according to Marketbeat.com. The stock had a trading volume of 395,947 shares, compared to its average volume of 964,346. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.24 and a beta of 1.24. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 2.18. Shell Midstream Partners has a fifty-two week low of $19.42 and a fifty-two week high of $31.19.

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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