Shell Midstream Partners LP (NYSE:SHLX) declared a quarterly dividend on Friday, July 24th, Wall Street Journal reports. Stockholders of record on Tuesday, August 4th will be given a dividend of 0.46 per share by the pipeline company on Friday, August 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 15.57%. The ex-dividend date of this dividend is Monday, August 3rd.

Shell Midstream Partners has increased its dividend payment by an average of 74.5% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Shell Midstream Partners has a payout ratio of 132.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Shell Midstream Partners to earn $1.37 per share next year, which means the company may not be able to cover its $1.84 annual dividend with an expected future payout ratio of 134.3%.

NYSE SHLX opened at $11.82 on Friday. The business has a fifty day simple moving average of $12.30 and a 200 day simple moving average of $14.28. Shell Midstream Partners has a 12 month low of $5.70 and a 12 month high of $22.70. The firm has a market capitalization of $4.65 billion, a P/E ratio of 7.88 and a beta of 1.82.

Shell Midstream Partners (NYSE:SHLX) last announced its earnings results on Friday, July 31st. The pipeline company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.01). Shell Midstream Partners had a net margin of 97.36% and a negative return on equity of 63.01%. The firm had revenue of $120.00 million during the quarter, compared to analysts’ expectations of $141.97 million. During the same quarter in the prior year, the company earned $0.36 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. As a group, research analysts anticipate that Shell Midstream Partners will post 1.24 EPS for the current fiscal year.

SHLX has been the subject of a number of recent analyst reports. Citigroup reduced their price objective on Shell Midstream Partners from $15.00 to $13.00 in a research note on Monday, July 6th. Stifel Nicolaus decreased their price objective on shares of Shell Midstream Partners from $17.00 to $14.00 and set a “hold” rating for the company in a report on Friday, May 8th. Barclays initiated coverage on shares of Shell Midstream Partners in a research note on Thursday, June 4th. They issued an “equal weight” rating and a $15.00 target price on the stock. Royal Bank of Canada restated a “hold” rating on shares of Shell Midstream Partners in a research note on Wednesday, May 13th. Finally, ValuEngine lowered Shell Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, April 21st. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Shell Midstream Partners currently has a consensus rating of “Hold” and a consensus target price of $16.70.

Shell Midstream Partners Company Profile

Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. It owns interests in crude oil and refined products pipelines and terminals to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets.

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Dividend History for Shell Midstream Partners (NYSE:SHLX)

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