ING Groep NV reduced its stake in shares of Shell Midstream Partners, L.P. (NYSE:SHLX) by 66.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,496 shares of the pipeline company’s stock after selling 176,304 shares during the period. ING Groep NV’s holdings in Shell Midstream Partners, L.P. were worth $2,651,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased 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 valued at $149,000 after buying an additional 63 shares in the last quarter. Johnson Financial Group LLC acquired a new position in Shell Midstream Partners, L.P. during the second quarter valued at approximately $218,000. BNP Paribas Arbitrage SA purchased a new stake in Shell Midstream Partners, L.P. during the first quarter valued at $239,000. Proficio Capital Partners LLC boosted its stake in Shell Midstream Partners, L.P. by 37.6% in the first quarter. Proficio Capital Partners LLC now owns 8,516 shares of the pipeline company’s stock valued at $266,000 after buying an additional 2,326 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake 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 valued at $326,000 after buying an additional 2,864 shares in the last quarter. Hedge funds and other institutional investors own 49.62% of the company’s stock.
Shell Midstream Partners, L.P. (NYSE:SHLX) traded up 0.86% on Wednesday, hitting $27.04. The stock had a trading volume of 350,138 shares. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 20.98 and a beta of 1.17. Shell Midstream Partners, L.P. has a 1-year low of $25.42 and a 1-year high of $34.17. The company has a 50-day moving average price of $29.22 and a 200-day moving average price of $31.14.
Shell Midstream Partners, L.P. (NYSE:SHLX) last announced its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $69.55 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts predict that Shell Midstream Partners, L.P. will post $1.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be given a $0.3041 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.22 annualized dividend and a yield of 4.50%. Shell Midstream Partners, L.P.’s payout ratio is currently 98.39%.
SHLX has been the subject of a number of research reports. Stifel Nicolaus reissued a “buy” rating and issued a $36.00 target price on shares of Shell Midstream Partners, L.P. in a report on Friday, July 14th. BidaskClub cut shares of Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. 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, April 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average 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.
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