Stock Traders Purchase Large Volume of Shell Midstream Partners Call Options (SHLX)

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Shell Midstream Partners LP (NYSE:SHLX) saw some unusual options trading on Thursday. Stock investors acquired 2,541 call options on the company. This is an increase of approximately 2,018% compared to the typical daily volume of 120 call options.

Shell Midstream Partners stock traded down $0.48 during midday trading on Friday, reaching $20.78. The company’s stock had a trading volume of 963,127 shares, compared to its average volume of 895,674. Shell Midstream Partners has a 52-week low of $19.42 and a 52-week high of $31.19. The stock has a market cap of $4.79 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 5.26 and a beta of 1.23. The company has a debt-to-equity ratio of -6.59, a quick ratio of 3.66 and a current ratio of 3.66.

Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings data on Thursday, August 2nd. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Shell Midstream Partners had a negative return on equity of 295.18% and a net margin of 74.14%. The firm had revenue of $129.30 million during the quarter, compared to analysts’ expectations of $120.71 million. During the same period last year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, sell-side analysts predict that Shell Midstream Partners will post 1.36 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. First Republic Investment Management Inc. purchased a new position in shares of Shell Midstream Partners in the second quarter worth about $3,105,000. Parkside Financial Bank & Trust purchased a new position in Shell Midstream Partners during the third quarter valued at approximately $833,000. Cadence Capital Management LLC raised its position in Shell Midstream Partners by 38.6% during the second quarter. Cadence Capital Management LLC now owns 334,962 shares of the pipeline company’s stock valued at $7,429,000 after acquiring an additional 93,272 shares in the last quarter. Conning Inc. raised its position in Shell Midstream Partners by 129.9% during the second quarter. Conning Inc. now owns 84,209 shares of the pipeline company’s stock valued at $1,868,000 after acquiring an additional 47,582 shares in the last quarter. Finally, Global X Management Co LLC raised its position in Shell Midstream Partners by 12.4% during the second quarter. Global X Management Co LLC now owns 1,720,275 shares of the pipeline company’s stock valued at $38,156,000 after acquiring an additional 190,164 shares in the last quarter. Hedge funds and other institutional investors own 54.82% of the company’s stock.

A number of brokerages recently weighed in on SHLX. Credit Suisse Group began coverage on Shell Midstream Partners in a research report on Thursday. They set a “neutral” rating and a $24.00 price objective on the stock. ValuEngine upgraded Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research upgraded Shell Midstream Partners from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research note on Thursday, September 20th. Wells Fargo & Co decreased their price target on Shell Midstream Partners from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, September 13th. Finally, JPMorgan Chase & Co. decreased their price target on Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $27.12.

Shell Midstream Partners Company Profile

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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