Cambridge Investment Research Advisors Inc. acquired a new position in shares of Shell Midstream Partners (NYSE:SHLX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,183 shares of the pipeline company’s stock, valued at approximately $274,000.
Several other hedge funds have also recently bought and sold shares of SHLX. Stuart Chaussee & Associates Inc. acquired a new position in Shell Midstream Partners during the fourth quarter valued at approximately $152,000. The Manufacturers Life Insurance Company boosted its position in Shell Midstream Partners by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock valued at $172,000 after purchasing an additional 398 shares during the last quarter. Creative Planning acquired a new position in Shell Midstream Partners during the fourth quarter valued at approximately $235,000. Jane Street Group LLC acquired a new position in Shell Midstream Partners during the fourth quarter valued at approximately $247,000. Finally, Koch Industries Inc. acquired a new position in Shell Midstream Partners during the fourth quarter valued at approximately $301,000. 44.93% of the stock is owned by institutional investors.
NYSE:SHLX opened at $22.28 on Wednesday. The company has a debt-to-equity ratio of -3.30, a quick ratio of 3.71 and a current ratio of 3.71. The company has a market capitalization of $4,621.70, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Shell Midstream Partners has a 12-month low of $19.42 and a 12-month high of $33.25.
Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings data on Tuesday, February 27th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $127.00 million for the quarter, compared to analyst estimates of $96.23 million. Shell Midstream Partners had a negative return on equity of 179.87% and a net margin of 78.08%. During the same quarter in the prior year, the company earned $0.34 earnings per share. equities research analysts predict that Shell Midstream Partners will post 1.44 EPS for the current fiscal year.
SHLX has been the subject of several recent research reports. Barclays set a $29.00 price target on Shell Midstream Partners and gave the company a “hold” rating in a research report on Monday. Stifel Nicolaus cut Shell Midstream Partners from a “buy” rating to a “hold” rating and increased their price target for the company from $30.00 to $31.00 in a research report on Wednesday, January 17th. ValuEngine cut Shell Midstream Partners from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. UBS reissued a “buy” rating and set a $38.00 price target (down from $40.00) on shares of Shell Midstream Partners in a research report on Friday, March 2nd. Finally, Morgan Stanley reduced their price target on Shell Midstream Partners from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, March 29th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $30.56.
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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.
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