Shell Midstream Partners LP (SHLX) reported quarterly earnings results on Thursday, May-5-2016. The company reported $0.36 EPS for the quarter. Analysts had a consensus estimate of $0.36. The company posted revenue of $76.70 million in the period, compared to analysts expectations of $73.57 million. The company’s revenue was up 48.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.
Many Wall Street Analysts have commented on Shell Midstream Partners LP. RBC Capital Mkts Initiated Shell Midstream Partners LP on May 2, 2016 to “Outperform”, Price Target of the shares are set at $47.
Shell Midstream Partners LP closed down -0.53 points or -1.44% at $36.23 with 1,73,443 shares getting traded on Wednesday. Post opening the session at $37.03, the shares hit an intraday low of $35.89 and an intraday high of $37.25 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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.