Shell Midstream Partners, L.P. (NYSE:SHLX) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in shares of Shell Midstream Partners, L.P. (NYSE:SHLX) by 39.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,117 shares of the pipeline company’s stock after buying an additional 2,864 shares during the period. Bank of New York Mellon Corp’s holdings in Shell Midstream Partners, L.P. were worth $326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP boosted its position in shares of Shell Midstream Partners, L.P. by 14.9% in the first quarter. First Trust Advisors LP now owns 162,815 shares of the pipeline company’s stock valued at $5,248,000 after buying an additional 21,083 shares during the last quarter. Hollencrest Securities LLC purchased a new position in shares of Shell Midstream Partners, L.P. during the first quarter valued at approximately $403,000. Spirit of America Management Corp NY boosted its position in shares of Shell Midstream Partners, L.P. by 61.9% in the first quarter. Spirit of America Management Corp NY now owns 621,593 shares of the pipeline company’s stock valued at $20,034,000 after buying an additional 237,650 shares during the last quarter. Geneva Advisors LLC boosted its position in shares of Shell Midstream Partners, L.P. by 235.5% in the first quarter. Geneva Advisors LLC now owns 369,315 shares of the pipeline company’s stock valued at $11,903,000 after buying an additional 259,230 shares during the last quarter. Finally, NBW Capital LLC boosted its position in shares of Shell Midstream Partners, L.P. by 17.7% in the first quarter. NBW Capital LLC now owns 236,994 shares of the pipeline company’s stock valued at $7,638,000 after buying an additional 35,662 shares during the last quarter. Institutional investors own 45.88% of the company’s stock.

Shares of Shell Midstream Partners, L.P. (NYSE:SHLX) traded up 0.27% during trading on Friday, reaching $26.27. 238,069 shares of the company traded hands. The stock has a market cap of $4.66 billion, a P/E ratio of 21.31 and a beta of 1.17. The stock’s 50 day moving average price is $28.63 and its 200-day moving average price is $30.81. Shell Midstream Partners, L.P. has a 12 month low of $25.42 and a 12 month high of $34.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.02. The firm had revenue of $86.80 million for the quarter, compared to the consensus estimate of $69.55 million. Shell Midstream Partners, L.P. had a return on equity of 258.67% and a net margin of 87.22%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. On average, equities research analysts expect that Shell Midstream Partners, L.P. will post $1.37 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a dividend of $0.3041 per share. This represents a $1.22 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend was Thursday, July 27th. Shell Midstream Partners, L.P.’s dividend payout ratio (DPR) is currently 98.39%.

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Several research analysts have commented on SHLX shares. BidaskClub cut shares of Shell Midstream Partners, L.P. from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Stifel Nicolaus restated a “buy” rating and set a $36.00 price target on shares of Shell Midstream Partners, L.P. in a report on Friday, July 14th. Finally, Zacks Investment Research cut shares of Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $37.83.

Shell Midstream Partners, L.P. Company 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.

Institutional Ownership by Quarter for Shell Midstream Partners, L.P. (NYSE:SHLX)

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