Shell Midstream Partners Sees Unusually High Options Volume (SHLX)

Shell Midstream Partners LP (NYSE:SHLX) was the recipient of some unusual options trading on Thursday. Investors purchased 1,361 call options on the company. This is an increase of 813% compared to the average volume of 149 call options.

Shares of Shell Midstream Partners (NYSE SHLX) opened at $28.74 on Tuesday. The company has a debt-to-equity ratio of 42.36, a quick ratio of 3.36 and a current ratio of 3.36. The firm has a market cap of $5,440.00, a PE ratio of 22.39, a PEG ratio of 1.73 and a beta of 1.15. Shell Midstream Partners has a 1-year low of $24.68 and a 1-year high of $34.17.

Shell Midstream Partners (NYSE:SHLX) last posted its earnings results on Friday, November 3rd. The pipeline company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05). The firm had revenue of $94.40 million for the quarter, compared to analysts’ expectations of $86.36 million. Shell Midstream Partners had a return on equity of 3,826.80% and a net margin of 85.14%. The business’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. research analysts predict that Shell Midstream Partners will post 1.27 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC boosted its holdings in shares of Shell Midstream Partners by 243.8% during the third quarter. Chicago Partners Investment Group LLC now owns 146,267 shares of the pipeline company’s stock worth $4,072,000 after purchasing an additional 103,726 shares during the period. Institutional & Family Asset Management LLC purchased a new stake in shares of Shell Midstream Partners during the third quarter worth about $237,000. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Shell Midstream Partners by 109.8% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 20,435,426 shares of the pipeline company’s stock worth $568,922,000 after purchasing an additional 10,695,678 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of Shell Midstream Partners by 53.1% during the third quarter. Neuberger Berman Group LLC now owns 188,275 shares of the pipeline company’s stock worth $5,242,000 after purchasing an additional 65,321 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in shares of Shell Midstream Partners by 2,541.3% during the third quarter. California Public Employees Retirement System now owns 198,100 shares of the pipeline company’s stock worth $5,515,000 after purchasing an additional 190,600 shares during the period. Institutional investors own 53.20% of the company’s stock.

A number of research analysts have recently issued reports on the company. BidaskClub raised Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Barclays reduced their price objective on Shell Midstream Partners from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, November 6th. Stifel Nicolaus set a $30.00 price objective on Shell Midstream Partners and gave the company a “buy” rating in a research note on Thursday, November 30th. Royal Bank of Canada reaffirmed a “buy” rating and set a $41.00 price objective on shares of Shell Midstream Partners in a research note on Monday, August 21st. Finally, UBS reduced their price objective on Shell Midstream Partners from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, November 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Shell Midstream Partners presently has an average rating of “Buy” and an average price target of $34.50.

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Shell Midstream Partners Company Profile

Shell Midstream Partners, L.P. is a master limited partnership company, which owns, operates, develops and acquires pipelines and other midstream assets. The Company conducts its operations through its subsidiary, Shell Midstream Operating, LLC. Its assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and to deliver refined products from those markets to demand centers.

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