Shell Midstream Partners LP (SHLX) Stake Boosted by Sei Investments Co.

Sei Investments Co. increased its stake in shares of Shell Midstream Partners LP (NYSE:SHLX) by 54.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 182,812 shares of the pipeline company’s stock after purchasing an additional 64,300 shares during the period. Sei Investments Co. owned 0.10% of Shell Midstream Partners worth $5,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in Shell Midstream Partners by 39.5% during the 1st quarter. Bank of New York Mellon Corp now owns 10,117 shares of the pipeline company’s stock valued at $326,000 after acquiring an additional 2,864 shares in the last quarter. Alliancebernstein L.P. grew its stake in Shell Midstream Partners by 40.6% during the 1st quarter. Alliancebernstein L.P. now owns 22,637 shares of the pipeline company’s stock valued at $730,000 after acquiring an additional 6,536 shares in the last quarter. Chickasaw Capital Management LLC grew its stake in Shell Midstream Partners by 1.8% during the 2nd quarter. Chickasaw Capital Management LLC now owns 8,626,823 shares of the pipeline company’s stock valued at $261,393,000 after acquiring an additional 153,936 shares in the last quarter. Mariner Investment Group LLC grew its stake in Shell Midstream Partners by 690.4% during the 2nd quarter. Mariner Investment Group LLC now owns 197,600 shares of the pipeline company’s stock valued at $5,987,000 after acquiring an additional 172,600 shares in the last quarter. Finally, Global X Management Co. LLC grew its stake in Shell Midstream Partners by 28.7% during the 2nd quarter. Global X Management Co. LLC now owns 549,249 shares of the pipeline company’s stock valued at $16,642,000 after acquiring an additional 122,586 shares in the last quarter. Hedge funds and other institutional investors own 53.20% of the company’s stock.

Shell Midstream Partners LP (SHLX) traded up $0.43 during trading on Wednesday, hitting $27.24. 443,600 shares of the stock traded hands, compared to its average volume of 367,750. The company has a debt-to-equity ratio of 42.36, a quick ratio of 3.36 and a current ratio of 3.36. Shell Midstream Partners LP has a twelve month low of $24.68 and a twelve month high of $34.17. The stock has a market cap of $5,034.45, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15.

Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Shell Midstream Partners had a return on equity of 3,826.80% and a net margin of 85.14%. The company had revenue of $94.40 million during the quarter, compared to analyst estimates of $86.36 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The business’s revenue was up 39.0% compared to the same quarter last year. research analysts forecast that Shell Midstream Partners LP will post 1.27 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 14th were issued a $0.318 dividend. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.30. This represents a $1.27 annualized dividend and a dividend yield of 4.67%. The ex-dividend date was Monday, October 30th. Shell Midstream Partners’s dividend payout ratio is currently 100.00%.

SHLX has been the subject of several research reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $41.00 price objective on shares of Shell Midstream Partners in a research note on Monday, August 21st. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price target on shares of Shell Midstream Partners in a research note on Friday, September 15th. UBS dropped their price target on shares of Shell Midstream Partners from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Citigroup reissued a “buy” rating and issued a $32.00 price target (down previously from $36.50) on shares of Shell Midstream Partners in a research note on Monday, November 20th. Finally, Barclays dropped their price target on shares of Shell Midstream Partners from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $34.50.

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Shell Midstream Partners 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 (NYSE:SHLX)

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