Shell Midstream Partners, L.P. (SHLX) Position Trimmed by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY decreased its position in shares of Shell Midstream Partners, L.P. (NYSE:SHLX) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,739,820 shares of the pipeline company’s stock after selling 101,319 shares during the quarter. Miller Howard Investments Inc. NY owned about 0.98% of Shell Midstream Partners, L.P. worth $48,437,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in Shell Midstream Partners, L.P. by 7.9% in the second quarter. PNC Financial Services Group Inc. now owns 120,886 shares of the pipeline company’s stock valued at $3,663,000 after buying an additional 8,892 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Shell Midstream Partners, L.P. in the second quarter worth $1,030,000. Blair William & Co. IL lifted its position in shares of Shell Midstream Partners, L.P. by 1.1% in the second quarter. Blair William & Co. IL now owns 152,772 shares of the pipeline company’s stock worth $4,629,000 after purchasing an additional 1,615 shares in the last quarter. Johnson Financial Group LLC bought a new stake in shares of Shell Midstream Partners, L.P. in the second quarter worth $218,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Shell Midstream Partners, L.P. by 15.1% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,130,620 shares of the pipeline company’s stock worth $64,558,000 after purchasing an additional 280,018 shares in the last quarter. 43.67% of the stock is currently owned by institutional investors and hedge funds.

Shell Midstream Partners, L.P. (NYSE:SHLX) last issued 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). Shell Midstream Partners, L.P. had a net margin of 87.22% and a return on equity of 258.67%. The company had revenue of $86.80 million for the quarter, compared to the consensus estimate of $69.55 million. During the same quarter last year, the business posted $0.35 earnings per share. Shell Midstream Partners, L.P.’s revenue was up 22.1% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 14th will be paid a dividend of $0.318 per share. The ex-dividend date is Monday, October 30th. This is a boost from Shell Midstream Partners, L.P.’s previous quarterly dividend of $0.30. This represents a $1.27 annualized dividend and a yield of 5.01%. Shell Midstream Partners, L.P.’s dividend payout ratio (DPR) is 102.42%.

A number of analysts have recently commented on SHLX shares. BidaskClub raised shares of Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Stifel Nicolaus reissued a “buy” rating and issued a $36.00 price objective on shares of Shell Midstream Partners, L.P. in a research report on Friday, July 14th. Zacks Investment Research lowered shares of Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $41.00 price objective on shares of Shell Midstream Partners, L.P. in a research report on Monday, August 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Shell Midstream Partners, L.P. has a consensus rating of “Buy” and a consensus price target of $36.83.

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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.

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

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