Shell Midstream Partners LP (SHLX) was Initiated by RBC Capital Mkts to “Outperform” and the brokerage firm has set the Price Target at $47. RBC Capital Mkts advised their investors in a research report released on May 2, 2016.
On the company’s financial health, Shell Midstream Partners LP reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 24, 2016. Analyst had a consensus of $0.35. The company had revenue of $84.60 million for the quarter, compared to analysts expectations of $64.26 million. The company’s revenue was up 52.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.
Shell Midstream Partners LP opened for trading at $36.92 and hit $37.42 on the upside on Wednesday, eventually ending the session at $37.2, with a gain of 1.92% or 0.7 points. The heightened volatility saw the trading volume jump to 3,33,278 shares. Company has a market cap of $5,649 M.
In a different news, on Feb 25, 2016, Margaret C Montana (director) purchased 35 shares at $35.71 per share price. According to the SEC, on Feb 25, 2016, Michele F Joy (officer ) purchased 37 shares at $36.90 per share price. On Dec 22, 2015, Alton G Smith (Vice President, Operations) purchased 3,435 shares at $37.58 per share price, according to the Form-4 filing with the securities and exchange commission.
Shell Midstream Partners L.P. is a master limited partnership company formed to own operate develop and acquire pipelines and other midstream assets. The company own interests in two crude oil pipeline systems and two refined products systems. The crude oil pipeline systems which are held by Zydeco and Mars Oil Pipeline Company (Mars) are located along the Texas and Louisiana Gulf Coast and in the Gulf of Mexico. These systems link onshore and offshore production areas with refining markets. The refined products pipeline systems which are held by Bengal Pipeline Company LLC (Bengal) and Colonial Pipeline Company (Colonial) connect Gulf Coast and southeastern United States refineries to demand centers from Alabama to New York.