ING Groep NV grew its stake in shares of Shell Midstream Partners LP (NYSE:SHLX) by 533.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 554,496 shares of the pipeline company’s stock after purchasing an additional 467,000 shares during the period. ING Groep NV owned approximately 0.30% of Shell Midstream Partners worth $15,437,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of SHLX. Cedar Wealth Management LLC raised its stake in shares of Shell Midstream Partners by 129.4% during the 3rd quarter. Cedar Wealth Management LLC now owns 5,230 shares of the pipeline company’s stock worth $146,000 after buying an additional 2,950 shares during the last quarter. Saratoga Research & Investment Management acquired a new position in shares of Shell Midstream Partners during the 3rd quarter worth $146,000. The Manufacturers Life Insurance Company raised its stake in shares of Shell Midstream Partners by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after buying an additional 398 shares during the last quarter. Doliver Capital Advisors LP acquired a new position in shares of Shell Midstream Partners during the 2nd quarter worth $242,000. Finally, Proficio Capital Partners LLC raised its stake in shares of Shell Midstream Partners by 11.1% during the 2nd quarter. Proficio Capital Partners LLC now owns 9,460 shares of the pipeline company’s stock worth $266,000 after buying an additional 944 shares during the last quarter. Institutional investors own 53.20% of the company’s stock.
Shares of Shell Midstream Partners LP (SHLX) opened at $26.85 on Friday. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 42.36. The company has a market capitalization of $5,115.19, a PE ratio of 21.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.15. Shell Midstream Partners LP has a fifty-two week low of $24.68 and a fifty-two week high of $34.17.
Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings results on Friday, November 3rd. The pipeline company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). The business had revenue of $94.40 million during the quarter, compared to analysts’ expectations of $86.36 million. Shell Midstream Partners had a net margin of 85.14% and a return on equity of 3,826.80%. The firm’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. equities research analysts forecast that Shell Midstream Partners LP will post 1.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 14th were issued a $0.318 dividend. This is a boost from Shell Midstream Partners’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, October 30th. This represents a $1.27 annualized dividend and a yield of 4.74%. Shell Midstream Partners’s payout ratio is 100.00%.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised Shell Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. BidaskClub raised shares of Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Barclays cut their target price on shares of Shell Midstream Partners from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, November 6th. Stifel Nicolaus set a $30.00 target price on shares of Shell Midstream Partners and gave the company a “buy” rating in a research note on Thursday, November 30th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $41.00 target price on shares of Shell Midstream Partners in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Shell Midstream Partners has an average rating of “Buy” and an average price target of $34.50.
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Shell Midstream Partners Profile
Shell Midstream Partners, L.P. is a master limited partnership company, which owns, operates, develops and acquires pipelines and other midstream assets. The Company conducts its operations through its subsidiary, Shell Midstream Operating, LLC. Its assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and to deliver refined products from those markets to demand centers.
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