Tortoise Capital Advisors L.L.C. trimmed its position in shares of Shell Midstream Partners LP (NYSE:SHLX) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,281,451 shares of the pipeline company’s stock after selling 1,171,942 shares during the period. Shell Midstream Partners comprises 2.6% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 15th biggest holding. Tortoise Capital Advisors L.L.C. owned approximately 9.12% of Shell Midstream Partners worth $430,098,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Eagle Global Advisors LLC increased its holdings in Shell Midstream Partners by 633.4% in the fourth quarter. Eagle Global Advisors LLC now owns 1,170,840 shares of the pipeline company’s stock valued at $23,663,000 after purchasing an additional 1,011,200 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Shell Midstream Partners by 32.0% in the 4th quarter. Bank of Montreal Can now owns 1,264,862 shares of the pipeline company’s stock worth $25,563,000 after buying an additional 306,559 shares during the last quarter. Adams Asset Advisors LLC increased its holdings in shares of Shell Midstream Partners by 357.0% in the 4th quarter. Adams Asset Advisors LLC now owns 162,678 shares of the pipeline company’s stock worth $3,287,000 after buying an additional 127,080 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Shell Midstream Partners by 204.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 137,000 shares of the pipeline company’s stock worth $2,769,000 after buying an additional 92,000 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Shell Midstream Partners in the 4th quarter worth about $1,006,000. Institutional investors own 49.42% of the company’s stock.
In related news, Director Rob L. Jones acquired 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were acquired at an average cost of $16.57 per share, for a total transaction of $248,550.00. Following the completion of the purchase, the director now directly owns 30,000 shares in the company, valued at $497,100. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shawn J. Carsten acquired 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were bought at an average price of $7.51 per share, for a total transaction of $60,080.00. Following the completion of the purchase, the insider now owns 11,500 shares of the company’s stock, valued at $86,365. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 25,310 shares of company stock worth $332,931.
SHLX traded up $0.50 during trading on Thursday, hitting $10.00. The stock had a trading volume of 1,595,293 shares, compared to its average volume of 1,400,144. The firm has a market capitalization of $2.22 billion, a P/E ratio of 5.99, a PEG ratio of 6.51 and a beta of 1.14. The company’s 50-day moving average price is $15.70 and its 200 day moving average price is $19.30. Shell Midstream Partners LP has a twelve month low of $5.70 and a twelve month high of $22.70.
Shell Midstream Partners (NYSE:SHLX) last posted its earnings results on Thursday, February 20th. The pipeline company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Shell Midstream Partners had a negative return on equity of 75.03% and a net margin of 94.24%. The business had revenue of $126.00 million during the quarter, compared to the consensus estimate of $121.47 million. During the same quarter last year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was down 11.5% on a year-over-year basis. As a group, analysts predict that Shell Midstream Partners LP will post 1.38 earnings per share for the current year.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Shell Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Mizuho upgraded shares of Shell Midstream Partners from an “underperform” rating to a “neutral” rating and set a $19.00 price target for the company in a research report on Monday, March 2nd. ValuEngine upgraded shares of Shell Midstream Partners from a “sell” rating to a “hold” rating in a research report on Friday, March 20th. UBS Group reduced their price target on shares of Shell Midstream Partners from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $20.00 price target on shares of Shell Midstream Partners in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Shell Midstream Partners currently has an average rating of “Hold” and an average target price of $18.88.
Shell Midstream Partners Company 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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