Morgan Stanley Initiates Coverage on Shell Midstream Partners LP(NYSE:SHLX). The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Jun 16, 2016.
In a different note, RBC Capital said it Initiates Coverage on Shell Midstream Partners LP, according to a research note issued on May 2, 2016. The shares have been rated ‘Outperform’ by the firm.
Shell Midstream Partners LP (SHLX) remained unchanged at the close of Tuesday session. Even as the volume increased to 8,12,975 ,the shares failed to make any impression and ended at 0 points or 0.00% at $32. The trading session commenced at $32.01 and the stock hit a high of $32.24 and touched $31.61 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $48.39 and the 52-week low is $25.13. The company has a market cap of $5,288 M and has approximately 16,52,42,440 outstanding shares.
Shell Midstream Partners LP(SHLX) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $76.70M. Analysts had an estimated revenue of $68.55M. Earnings per share were $0.36. Analysts had estimated an EPS of $0.35.
Several Insider Transactions has been reported to the SEC. On Feb 25, 2016, Margaret C Montana (director) purchased 35 shares at $35.71 per share price.Also, 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.