Ameriprise Financial Inc. Sells 46 Shares of Shell Midstream Partners, L.P. (SHLX)

Ameriprise Financial Inc. decreased its holdings in Shell Midstream Partners, L.P. (NYSE:SHLX) by 0.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 102,250 shares of the pipeline company’s stock after selling 46 shares during the quarter. Ameriprise Financial Inc. owned 0.06% of Shell Midstream Partners, L.P. worth $3,098,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. grew its position in Shell Midstream Partners, L.P. by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock worth $149,000 after buying an additional 63 shares during the last quarter. Johnson Financial Group LLC acquired a new position in Shell Midstream Partners, L.P. in the second quarter worth approximately $218,000. Proficio Capital Partners LLC grew its position in Shell Midstream Partners, L.P. by 11.1% in the second 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. RiverPoint Capital Management LLC acquired a new position in Shell Midstream Partners, L.P. in the second quarter worth approximately $291,000. Finally, Bank of New York Mellon Corp grew its position in Shell Midstream Partners, L.P. by 39.5% in the first quarter. Bank of New York Mellon Corp now owns 10,117 shares of the pipeline company’s stock worth $326,000 after buying an additional 2,864 shares during the last quarter. Hedge funds and other institutional investors own 43.67% of the company’s stock.

Shell Midstream Partners, L.P. (NYSE:SHLX) opened at 25.81 on Monday. The firm’s 50-day moving average is $27.49 and its 200 day moving average is $29.06. The stock has a market capitalization of $4.58 billion, a PE ratio of 20.93 and a beta of 1.17. Shell Midstream Partners, L.P. has a 52-week low of $24.68 and a 52-week high of $34.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.02). The firm had revenue of $86.80 million during the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share. On average, equities analysts forecast that Shell Midstream Partners, L.P. will post $1.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 14th will be issued a $0.318 dividend. The ex-dividend date of this dividend is Monday, October 30th. This is a positive change from Shell Midstream Partners, L.P.’s previous quarterly dividend of $0.30. This represents a $1.27 annualized dividend and a yield of 4.93%. Shell Midstream Partners, L.P.’s dividend payout ratio (DPR) is 98.39%.

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Several research firms have issued reports on SHLX. Zacks Investment Research upgraded shares of Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. BidaskClub upgraded shares of Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Royal Bank Of Canada reiterated a “buy” rating and set a $41.00 price objective on shares of Shell Midstream Partners, L.P. in a research report on Monday, August 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $30.00 price objective on shares of Shell Midstream Partners, L.P. in a research report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $36.83.

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

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