Chicago Partners Investment Group LLC trimmed its position in Shell Midstream Partners LP (NYSE:SHLX) by 25.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,537 shares of the pipeline company’s stock after selling 32,097 shares during the period. Chicago Partners Investment Group LLC’s holdings in Shell Midstream Partners were worth $1,788,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in shares of Shell Midstream Partners by 55.1% in the second quarter. Bank of New York Mellon Corp now owns 29,151 shares of the pipeline company’s stock worth $646,000 after acquiring an additional 10,359 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Shell Midstream Partners by 6.1% in the second quarter. PNC Financial Services Group Inc. now owns 133,247 shares of the pipeline company’s stock worth $2,955,000 after acquiring an additional 7,610 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of Shell Midstream Partners in the second quarter worth $3,105,000. Putnam Investments LLC purchased a new stake in shares of Shell Midstream Partners in the second quarter worth $1,832,000. Finally, Global X Management Co LLC grew its stake in shares of Shell Midstream Partners by 12.4% in the second quarter. Global X Management Co LLC now owns 1,720,275 shares of the pipeline company’s stock worth $38,156,000 after acquiring an additional 190,164 shares during the last quarter. 54.11% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on SHLX shares. Zacks Investment Research raised Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Tuesday, November 6th. Morgan Stanley cut their target price on Shell Midstream Partners from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, November 30th. Credit Suisse Group started coverage on Shell Midstream Partners in a research note on Thursday, October 11th. They issued a “neutral” rating and a $24.00 target price on the stock. Royal Bank of Canada cut Shell Midstream Partners from an “outperform” rating to a “sector perform” rating and set a $22.00 target price on the stock. in a research note on Tuesday, November 6th. Finally, ValuEngine raised Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.04.
Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings results on Thursday, November 1st. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The firm had revenue of $153.50 million for the quarter, compared to the consensus estimate of $137.00 million. Shell Midstream Partners had a negative return on equity of 215.59% and a net margin of 80.40%. During the same period in the prior year, the company posted $0.31 earnings per share. On average, analysts predict that Shell Midstream Partners LP will post 1.52 EPS for the current year.
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About Shell Midstream Partners
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.
Further Reading: What is Liquidity?
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