Wells Fargo & Company MN grew its stake in Shell Midstream Partners LP (NYSE:SHLX) by 65.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 387,518 shares of the pipeline company’s stock after buying an additional 153,419 shares during the quarter. Wells Fargo & Company MN owned 0.17% of Shell Midstream Partners worth $8,157,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in SHLX. Kayne Anderson Capital Advisors LP boosted its stake in shares of Shell Midstream Partners by 12.9% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,690,840 shares of the pipeline company’s stock valued at $139,866,000 after buying an additional 534,342 shares during the period. Global X Management Co. LLC boosted its stake in shares of Shell Midstream Partners by 53.0% in the 1st quarter. Global X Management Co. LLC now owns 1,530,111 shares of the pipeline company’s stock valued at $32,209,000 after buying an additional 529,875 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Shell Midstream Partners by 1,478.6% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 181,535 shares of the pipeline company’s stock valued at $3,821,000 after buying an additional 170,035 shares during the period. Westwood Holdings Group Inc. lifted its stake in Shell Midstream Partners by 5.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,113,257 shares of the pipeline company’s stock worth $63,017,000 after purchasing an additional 102,745 shares during the last quarter. Finally, Cypress Wealth Advisors LLC purchased a new stake in Shell Midstream Partners during the fourth quarter worth approximately $3,036,000. Institutional investors and hedge funds own 55.57% of the company’s stock.
Shares of Shell Midstream Partners opened at $22.35 on Friday, according to Marketbeat.com. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.26 and a quick ratio of 3.26. Shell Midstream Partners LP has a twelve month low of $19.42 and a twelve month high of $31.19. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 3.22 and a beta of 1.24.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings data on Thursday, May 3rd. The pipeline company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.02. Shell Midstream Partners had a negative return on equity of 300.60% and a net margin of 70.78%. The company had revenue of $99.60 million during the quarter, compared to analysts’ expectations of $101.76 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was up 41.9% on a year-over-year basis. sell-side analysts anticipate that Shell Midstream Partners LP will post 1.3 earnings per share for the current year.
In other news, CFO Shawn J. Carsten acquired 2,500 shares of Shell Midstream Partners stock in a transaction on Thursday, May 24th. The stock was bought at an average price of $23.38 per share, for a total transaction of $58,450.00. Following the completion of the purchase, the chief financial officer now owns 2,500 shares in the company, valued at $58,450. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
SHLX has been the subject of several recent analyst reports. Deutsche Bank initiated coverage on Shell Midstream Partners in a research note on Thursday, April 19th. They set a “buy” rating and a $26.00 target price for the company. Barclays set a $29.00 target price on Shell Midstream Partners and gave the stock a “hold” rating in a research note on Monday, April 16th. ValuEngine cut Shell Midstream Partners from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Stifel Nicolaus set a $26.00 target price on Shell Midstream Partners and gave the stock a “hold” rating in a research note on Thursday, March 1st. Finally, UBS Group restated a “buy” rating and set a $38.00 target price (down previously from $40.00) on shares of Shell Midstream Partners in a research note on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $29.50.
Shell Midstream Partners Company Profile
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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