$143.82 Million in Sales Expected for Shell Midstream Partners LP (SHLX) This Quarter

Brokerages forecast that Shell Midstream Partners LP (NYSE:SHLX) will announce $143.82 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Shell Midstream Partners’ earnings. The highest sales estimate is $167.24 million and the lowest is $120.40 million. Shell Midstream Partners reported sales of $86.80 million during the same quarter last year, which indicates a positive year over year growth rate of 65.7%. The firm is expected to announce its next earnings report on Thursday, August 2nd.

According to Zacks, analysts expect that Shell Midstream Partners will report full year sales of $527.20 million for the current financial year, with estimates ranging from $469.80 million to $627.97 million. For the next financial year, analysts forecast that the business will post sales of $686.62 million per share, with estimates ranging from $483.50 million to $900.62 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Shell Midstream Partners.

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



SHLX has been the subject of several research analyst reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $31.00 target price (down from $32.00) on shares of Shell Midstream Partners in a research report on Tuesday, March 13th. Zacks Investment Research raised shares of Shell Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Stifel Nicolaus raised their target price on shares of Shell Midstream Partners from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Wednesday, May 16th. Bank of America initiated coverage on shares of Shell Midstream Partners in a research report on Tuesday. They issued a “buy” rating and a $27.00 target price for the company. Finally, Barclays dropped their target price on shares of Shell Midstream Partners from $29.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $28.75.

Shell Midstream Partners traded down $0.16, reaching $22.48, during trading hours on Friday, MarketBeat reports. 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 PE ratio of 17.86, a price-to-earnings-growth ratio of 3.24 and a beta of 1.24. Shell Midstream Partners has a 52 week low of $19.42 and a 52 week high of $31.19. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 2.18.

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

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in shares of Shell Midstream Partners in the fourth quarter worth approximately $247,000. Cambridge Investment Research Advisors Inc. bought a new stake in Shell Midstream Partners during the fourth quarter valued at approximately $274,000. Koch Industries Inc. bought a new stake in Shell Midstream Partners during the fourth quarter valued at approximately $301,000. Icon Wealth Partners LLC grew its position in Shell Midstream Partners by 22.2% during the first quarter. Icon Wealth Partners LLC now owns 16,923 shares of the pipeline company’s stock valued at $356,000 after buying an additional 3,069 shares during the period. Finally, Botty Investors LLC grew its position in Shell Midstream Partners by 525.0% during the first quarter. Botty Investors LLC now owns 17,801 shares of the pipeline company’s stock valued at $375,000 after buying an additional 14,953 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

About Shell Midstream Partners

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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