Duff & Phelps Investment Management Co. Raises Position in Shell Midstream Partners, L.P. (SHLX)

Duff & Phelps Investment Management Co. raised its position in shares of Shell Midstream Partners, L.P. (NYSE:SHLX) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 483,325 shares of the pipeline company’s stock after buying an additional 500 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.27% of Shell Midstream Partners, L.P. worth $14,645,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its stake in shares of 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 period. Johnson Financial Group LLC purchased a new stake in shares of Shell Midstream Partners, L.P. during the second quarter worth about $218,000. BNP Paribas Arbitrage SA purchased a new stake in shares of Shell Midstream Partners, L.P. during the first quarter worth about $239,000. Proficio Capital Partners LLC boosted its stake in shares of 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 worth $266,000 after buying an additional 2,326 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 period. 49.62% of the stock is owned by institutional investors and hedge funds.

Shell Midstream Partners, L.P. (NYSE:SHLX) opened at 26.57 on Friday. Shell Midstream Partners, L.P. has a 1-year low of $25.42 and a 1-year high of $34.17. The stock has a market capitalization of $4.71 billion, a PE ratio of 21.55 and a beta of 1.17. The company’s 50-day moving average is $29.04 and its 200 day moving average is $31.01.

Shell Midstream Partners, L.P. (NYSE:SHLX) last released its earnings results on Thursday, August 3rd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.02. Shell Midstream Partners, L.P. had a return on equity of 258.67% and a net margin of 87.22%. The business had revenue of $86.80 million for the quarter, compared to analysts’ expectations of $69.55 million. During the same period in the previous year, the company earned $0.35 EPS. Shell Midstream Partners, L.P.’s quarterly revenue 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 firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.3041 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Thursday, July 27th. Shell Midstream Partners, L.P.’s payout ratio is 98.39%.

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A number of analysts have recently issued reports on the stock. BidaskClub raised shares of Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research cut shares of Shell Midstream Partners, L.P. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 9th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $36.00 price objective on shares of Shell Midstream Partners, L.P. in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target 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.