NBW Capital LLC raised its stake in Shell Midstream Partners LP (NYSE:SHLX) by 11.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 272,210 shares of the pipeline company’s stock after purchasing an additional 28,241 shares during the quarter. Shell Midstream Partners comprises approximately 2.1% of NBW Capital LLC’s holdings, making the stock its 13th biggest holding. NBW Capital LLC owned approximately 0.12% of Shell Midstream Partners worth $8,117,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Stuart Chaussee & Associates Inc. acquired a new position in shares of Shell Midstream Partners in the 4th quarter valued at $152,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Shell Midstream Partners by 7.5% in the 2nd 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. Balentine LLC boosted its holdings in shares of Shell Midstream Partners by 63.7% in the 3rd quarter. Balentine LLC now owns 7,763 shares of the pipeline company’s stock valued at $216,000 after purchasing an additional 3,021 shares during the last quarter. Creative Planning acquired a new position in shares of Shell Midstream Partners in the 4th quarter valued at $235,000. Finally, Institutional & Family Asset Management LLC acquired a new position in shares of Shell Midstream Partners in the 3rd quarter valued at $237,000. Institutional investors own 45.00% of the company’s stock.
Shell Midstream Partners LP (NYSE SHLX) opened at $25.29 on Monday. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of -3.30. The firm has a market cap of $5,660.20, a price-to-earnings ratio of 19.76, a P/E/G ratio of 1.67 and a beta of 1.15. Shell Midstream Partners LP has a 1-year low of $23.87 and a 1-year high of $33.34.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Monday, February 5th were issued a dividend of $0.333 per share. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.33 annualized dividend and a dividend yield of 5.27%. Shell Midstream Partners’s payout ratio is presently 103.91%.
A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Shell Midstream Partners in a report on Friday, February 2nd. Barclays decreased their price target on shares of Shell Midstream Partners from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. 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 report on Friday, March 2nd. Finally, Stifel Nicolaus set a $26.00 target price on shares of Shell Midstream Partners and gave the company a “hold” rating in a report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $31.83.
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Shell Midstream Partners 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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