Shell Midstream Partners LP (NYSE:SHLX) Plans $0.43 Quarterly Dividend

Shell Midstream Partners LP (NYSE:SHLX) declared a quarterly dividend on Thursday, July 25th, Fidelity reports. Stockholders of record on Monday, August 5th will be paid a dividend of 0.43 per share by the pipeline company on Wednesday, August 14th. This represents a $1.72 annualized dividend and a dividend yield of 7.93%. The ex-dividend date is Friday, August 2nd.

Shell Midstream Partners has raised its dividend by an average of 28.4% annually over the last three years and has raised its dividend every year for the last 3 years. Shell Midstream Partners has a dividend payout ratio of 122.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Shell Midstream Partners to earn $1.70 per share next year, which means the company should continue to be able to cover its $1.66 annual dividend with an expected future payout ratio of 97.6%.

Shares of NYSE SHLX opened at $21.70 on Wednesday. The company has a market cap of $4.85 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 5.31 and a beta of 1.03. The firm has a 50-day moving average of $20.86. Shell Midstream Partners has a fifty-two week low of $15.86 and a fifty-two week high of $25.08.

Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings data on Thursday, May 2nd. The pipeline company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The company had revenue of $131.00 million during the quarter, compared to analysts’ expectations of $127.60 million. Shell Midstream Partners had a negative return on equity of 190.89% and a net margin of 95.68%. During the same quarter last year, the company earned $0.18 EPS. Research analysts anticipate that Shell Midstream Partners will post 1.63 EPS for the current year.

SHLX has been the subject of several analyst reports. Mizuho restated a “buy” rating and issued a $12.00 price objective on shares of Viewray in a report on Wednesday, July 17th. Zacks Investment Research cut Eisai from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Credit Suisse Group started coverage on Luckin Coffee in a report on Tuesday, June 11th. They set an “outperform” rating and a $24.00 price target for the company. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Shell Midstream Partners presently has an average rating of “Hold” and an average target price of $23.56.

About Shell Midstream Partners

Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. It owns interests in crude oil and refined products pipelines and terminals to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets.

See Also: Correction

Dividend History for Shell Midstream Partners (NYSE:SHLX)

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