BBVA USA Bancshares Inc. acquired a new stake in shares of Shell Midstream Partners LP (NYSE:SHLX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 68,215 shares of the pipeline company’s stock, valued at approximately $1,395,000.
A number of other large investors have also recently modified their holdings of SHLX. Tower Research Capital LLC TRC boosted its stake in Shell Midstream Partners by 605.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 14,492 shares of the pipeline company’s stock worth $296,000 after purchasing an additional 12,439 shares in the last quarter. Alps Advisors Inc. boosted its stake in Shell Midstream Partners by 37.8% in the 3rd quarter. Alps Advisors Inc. now owns 14,909,405 shares of the pipeline company’s stock worth $304,897,000 after purchasing an additional 4,086,167 shares in the last quarter. First National Trust Co boosted its stake in Shell Midstream Partners by 6.8% in the 3rd quarter. First National Trust Co now owns 11,840 shares of the pipeline company’s stock worth $242,000 after purchasing an additional 758 shares in the last quarter. American Assets Investment Management LLC boosted its stake in Shell Midstream Partners by 60.6% in the 3rd quarter. American Assets Investment Management LLC now owns 92,723 shares of the pipeline company’s stock worth $1,896,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Shell Midstream Partners by 3.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 336,751 shares of the pipeline company’s stock worth $6,887,000 after purchasing an additional 12,351 shares in the last quarter. 52.65% of the stock is owned by institutional investors.
SHLX opened at $19.47 on Wednesday. The stock has a market capitalization of $4.60 billion, a P/E ratio of 11.64, a P/E/G ratio of 12.05 and a beta of 1.06. The company’s 50-day simple moving average is $20.59 and its two-hundred day simple moving average is $20.59. Shell Midstream Partners LP has a 52-week low of $15.86 and a 52-week high of $21.99.
Shell Midstream Partners (NYSE:SHLX) last posted its earnings results on Thursday, October 31st. The pipeline company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The business had revenue of $125.00 million for the quarter, compared to analysts’ expectations of $116.18 million. Shell Midstream Partners had a net margin of 101.89% and a negative return on equity of 104.00%. The business’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. Research analysts forecast that Shell Midstream Partners LP will post 1.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.445 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.78 annualized dividend and a yield of 9.14%. This is a boost from Shell Midstream Partners’s previous quarterly dividend of $0.43.
A number of equities analysts recently issued reports on SHLX shares. Barclays set a $21.00 price target on shares of Shell Midstream Partners and gave the stock a “hold” rating in a research note on Tuesday, October 15th. UBS Group dropped their price target on shares of Shell Midstream Partners from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. ValuEngine cut shares of Shell Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Monday, November 4th. Zacks Investment Research cut shares of Shell Midstream Partners from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut shares of Shell Midstream Partners from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $23.00 to $22.00 in a research note on Tuesday, August 20th. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Shell Midstream Partners presently has a consensus rating of “Hold” and an average price target of $21.29.
Shell Midstream Partners Profile
Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. It owns interests in crude oil and refined products pipelines and terminals to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets.
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