Stock Traders Purchase Large Volume of Shell Midstream Partners Put Options (NYSE:SHLX)

Shell Midstream Partners LP (NYSE:SHLX) was the recipient of unusually large options trading on Tuesday. Investors bought 6,298 put options on the company. This represents an increase of 6,460% compared to the typical volume of 96 put options.

Shell Midstream Partners stock opened at $19.87 on Wednesday. The stock has a market cap of $4.55 billion, a PE ratio of 11.48, a P/E/G ratio of 4.68 and a beta of 1.09. Shell Midstream Partners has a 1 year low of $15.86 and a 1 year high of $25.08.

Shell Midstream Partners (NYSE:SHLX) last posted its earnings results on Thursday, May 2nd. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The company had revenue of $131.00 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $0.18 EPS. Equities research analysts predict that Shell Midstream Partners will post 1.74 earnings per share for the current fiscal year.



The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were given a $0.415 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.40. This represents a $1.66 annualized dividend and a dividend yield of 8.35%.

A number of analysts recently commented on the company. Zacks Investment Research upgraded Shell Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. lowered Shell Midstream Partners from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $25.00 to $23.00 in a research report on Wednesday, March 13th. ValuEngine upgraded Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 20th. Credit Suisse Group lowered Shell Midstream Partners from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $22.00 to $17.00 in a research report on Tuesday. Finally, UBS Group decreased their target price on Shell Midstream Partners from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Shell Midstream Partners has an average rating of “Hold” and an average target price of $24.00.

Several institutional investors and hedge funds have recently modified their holdings of SHLX. OppenheimerFunds Inc. grew its position in shares of Shell Midstream Partners by 119.2% in the 1st quarter. OppenheimerFunds Inc. now owns 5,754,685 shares of the pipeline company’s stock valued at $117,683,000 after purchasing an additional 3,129,607 shares during the period. Tortoise Capital Advisors L.L.C. grew its position in shares of Shell Midstream Partners by 14.2% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 23,729,540 shares of the pipeline company’s stock valued at $485,269,000 after purchasing an additional 2,956,791 shares during the period. Neuberger Berman Group LLC grew its position in shares of Shell Midstream Partners by 591.7% in the 1st quarter. Neuberger Berman Group LLC now owns 1,428,815 shares of the pipeline company’s stock valued at $29,219,000 after purchasing an additional 1,222,252 shares during the period. Wexford Capital LP acquired a new position in shares of Shell Midstream Partners in the 4th quarter valued at approximately $9,935,000. Finally, Kayne Anderson Capital Advisors LP grew its position in shares of Shell Midstream Partners by 6.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 9,708,255 shares of the pipeline company’s stock valued at $198,522,000 after purchasing an additional 597,152 shares during the period. Institutional investors and hedge funds own 53.85% of the company’s stock.

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Shell Midstream Partners Company Profile

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.

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