Shell Midstream Partners (SHLX) Holdings Decreased by Pointe Capital Management LLC

Pointe Capital Management LLC cut its stake in shares of Shell Midstream Partners (NYSE:SHLX) by 9.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,869 shares of the pipeline company’s stock after selling 3,149 shares during the period. Pointe Capital Management LLC’s holdings in Shell Midstream Partners were worth $671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Alps Advisors Inc. grew its holdings in shares of Shell Midstream Partners by 18.3% in the first quarter. Alps Advisors Inc. now owns 9,762,814 shares of the pipeline company’s stock valued at $205,507,000 after purchasing an additional 1,508,134 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in shares of Shell Midstream Partners by 58.4% in the first quarter. Kayne Anderson Capital Advisors LP now owns 7,432,590 shares of the pipeline company’s stock valued at $156,438,000 after purchasing an additional 2,741,750 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in shares of Shell Midstream Partners by 0.3% in the fourth quarter. OppenheimerFunds Inc. now owns 3,231,565 shares of the pipeline company’s stock valued at $96,365,000 after purchasing an additional 9,529 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Shell Midstream Partners by 15.7% in the first quarter. American Century Companies Inc. now owns 2,802,454 shares of the pipeline company’s stock valued at $58,992,000 after purchasing an additional 380,681 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in shares of Shell Midstream Partners by 5.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,113,257 shares of the pipeline company’s stock valued at $63,017,000 after purchasing an additional 102,745 shares in the last quarter. Institutional investors and hedge funds own 55.72% of the company’s stock.

A number of brokerages recently weighed in on SHLX. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Shell Midstream Partners in a report on Friday, February 2nd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $31.00 price target (down previously from $32.00) on shares of Shell Midstream Partners in a report on Tuesday, March 13th. Zacks Investment Research upgraded shares of Shell Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Stifel Nicolaus set a $26.00 price target on shares of Shell Midstream Partners and gave the stock a “hold” rating in a report on Thursday, March 1st. Finally, UBS reiterated a “buy” rating and set a $38.00 price target (down previously from $40.00) on shares of Shell Midstream Partners in a report on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Shell Midstream Partners currently has a consensus rating of “Hold” and an average price target of $29.50.

NYSE SHLX opened at $23.00 on Friday. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 2.18. Shell Midstream Partners has a 52 week low of $19.42 and a 52 week high of $31.20. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 3.40 and a beta of 1.23.

Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings results on Thursday, May 3rd. The pipeline company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Shell Midstream Partners had a net margin of 70.78% and a negative return on equity of 300.60%. The company had revenue of $99.60 million during the quarter, compared to analysts’ expectations of $101.76 million. During the same quarter in the previous year, the business posted $0.33 EPS. The firm’s revenue was up 41.9% on a year-over-year basis. research analysts expect that Shell Midstream Partners will post 1.29 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Monday, May 7th were given a dividend of $0.348 per share. This represents a $1.39 annualized dividend and a dividend yield of 6.05%. The ex-dividend date was Friday, May 4th. This is an increase from Shell Midstream Partners’s previous quarterly dividend of $0.33. Shell Midstream Partners’s payout ratio is currently 108.59%.

Shell Midstream Partners Profile

Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. Its crude oil pipeline systems include a 350 miles of Zydeco pipeline system; a 130-miles of delta pipeline; a 174-mile offshore Gulf of Mexico corridor pipeline; and a 75-mile offshore pipeline.

Institutional Ownership by Quarter for Shell Midstream Partners (NYSE:SHLX)

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