Traders Buy Large Volume of Shell Midstream Partners Put Options (SHLX)

Shell Midstream Partners (NYSE:SHLX) was the recipient of some unusual options trading on Wednesday. Investors bought 923 put options on the company. This represents an increase of 1,012% compared to the typical daily volume of 83 put options.

Hedge funds have recently bought and sold shares of the company. Creative Planning acquired a new position in shares of Shell Midstream Partners in the 4th quarter valued at $235,000. Cypress Wealth Advisors LLC acquired a new stake in Shell Midstream Partners during the 4th quarter worth $3,036,000. Koch Industries Inc. acquired a new stake in Shell Midstream Partners during the 4th quarter worth $301,000. Whalerock Point Partners LLC acquired a new stake in Shell Midstream Partners during the 4th quarter worth $328,000. Finally, Starfire Investment Advisers Inc. acquired a new stake in Shell Midstream Partners during the 4th quarter worth $1,044,000. 48.32% of the stock is currently owned by institutional investors.

SHLX has been the topic of a number of recent research reports. Stifel Nicolaus decreased their price objective on Shell Midstream Partners from $26.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, April 5th. JPMorgan Chase reiterated an “overweight” rating and issued a $31.00 price objective (down from $32.00) on shares of Shell Midstream Partners in a research report on Tuesday, March 13th. Mizuho reiterated a “buy” rating and issued a $30.00 price objective on shares of Shell Midstream Partners in a research report on Monday, March 26th. Citigroup cut their price target on Shell Midstream Partners from $32.00 to $28.50 and set a “buy” rating on the stock in a research note on Wednesday, March 28th. Finally, Deutsche Bank initiated coverage on Shell Midstream Partners in a research note on Thursday, April 19th. They issued a “buy” rating and a $26.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Shell Midstream Partners has a consensus rating of “Hold” and an average price target of $29.50.

Shell Midstream Partners opened at $23.83 on Thursday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.26 and a current ratio of 3.26. The firm has a market capitalization of $5.29 billion, a PE ratio of 20.91, a P/E/G ratio of 3.45 and a beta of 1.23. Shell Midstream Partners has a twelve month low of $23.58 and a twelve month high of $23.75.

Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings results on Thursday, May 3rd. The pipeline company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.02. The company had revenue of $99.60 million for the quarter, compared to the consensus estimate of $101.76 million. Shell Midstream Partners had a negative return on equity of 300.60% and a net margin of 70.78%. The firm’s quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 EPS. analysts expect that Shell Midstream Partners will post 1.27 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Monday, May 7th were paid a $0.348 dividend. The ex-dividend date was Friday, May 4th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.84%. This is an increase from Shell Midstream Partners’s previous quarterly dividend of $0.33. Shell Midstream Partners’s dividend payout ratio is 108.59%.

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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