Shell Midstream Partners, LP (NYSE:SHLX) Announces Quarterly Dividend of $0.30

Xavier Trudeau
Août 13, 2017

BidaskClub raised Magellan Midstream Partners L.P. from a strong sell rating to a sell rating in a research report on Tuesday, June 27th. Finally, Barclays PLC set a $55.00 price objective on shares of Noble Midstream Partners and gave the stock a "buy" rating in a research report on Tuesday, May 2nd. Stifel Nicolaus reissued a "hold" rating and set a $79.00 target price on shares of EQT Midstream Partners in a report on Friday, July 21st. Zacks Investment Research cut shares of Noble Midstream Partners from a "hold" rating to a "sell" rating in a research report on Wednesday, July 19th. Finally, Citigroup Inc. reaffirmed a "neutral" rating and issued a $24.00 price objective (up from $22.00) on shares of Summit Midstream Partners, in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of "Hold" and an average target price of $26.17. Forsta AP Fonden boosted its position in shares of Magellan Midstream Partners 420.0% in the second quarter. The stock has a 50 day moving average price of $29.04 and a 200 day moving average price of $31.01. The firm has a market cap of $1.17 billion, a PE ratio of 10.97 and a beta of 1.64.

Shell Midstream Partners, L.P. has a 12-month low of $25.42 and a 12-month high of $34.17. (NYSE:MMP) last posted its earnings results on Wednesday, August 2nd. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by $0.02. The firm had revenue of $199 million for the quarter, compared to analyst estimates of $195 million.

Magellan Midstream Partners L.P. had a return on equity of 41.81% and a net margin of 34.63%. EQT Midstream Partners's revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. If you are reading this story on another website, it was stolen and reposted in violation of U.S. and worldwide copyright and trademark legislation. The original version of this piece of content can be accessed at

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a dividend of $0.4457 per share. The ex-dividend date of this dividend is Thursday, July 27th. Research analysts expect Shell Midstream Partners, earn $1.62 per share next year, which means the company should continue to be able to cover its $1.22 annual dividend with an expected future payout ratio of 75.3%. This represents a $1.78 annualized dividend and a yield of 4.20%.

Several hedge funds and other institutional investors have recently modified their holdings of the company.

TRADEMARK VIOLATION WARNING: "Shell Midstream Partners, L.P. (NYSE:SHLX) Announces Quarterly Dividend of $0.30" was originally posted by Transcript Daily and is the property of of Transcript Daily. NEXT Financial Group Inc now owns 1,807 shares of the pipeline company's stock valued at $129,000 after buying an additional 126 shares during the last quarter. Prospera Financial Services Inc boosted its position in shares of Magellan Midstream Partners 6.0% in the second quarter. Alps Advisors Inc. now owns 22,587 shares of the pipeline company's stock worth $428,000 after buying an additional 58 shares during the period. Catalyst Capital Advisors LLC raised its position in Magellan Midstream Partners 23.7% in the first quarter. Janney Montgomery Scott LLC now owns 12,934 shares of the pipeline company's stock valued at $995,000 after buying an additional 5,979 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Enable Midstream Partners, during the fourth quarter worth $1,512,000. Chickasaw Capital Management LLC now owns 8,472,887 shares of the pipeline company's stock valued at $273,081,000 after buying an additional 265,172 shares during the period. Global X Management Co. Following the transaction, the insider now directly owns 27,599 shares of the company's stock, valued at approximately $2,069,925. Institutional investors own 62.86% of the company's stock.

According to Zacks, "Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins".

The Company owns, operates, develops and acquires natural gas gathering and other midstream energy assets to service CONSOL's and Noble Energy's production in the Marcellus Shale in Pennsylvania and West Virginia.

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