Eagle Global Advisors LLC boosted its stake in shares of Shell Midstream Partners LP (NYSE:SHLX) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,731,257 shares of the pipeline company’s stock after buying an additional 120,935 shares during the period. Shell Midstream Partners makes up approximately 1.5% of Eagle Global Advisors LLC’s holdings, making the stock its 22nd largest position. Eagle Global Advisors LLC owned about 0.98% of Shell Midstream Partners worth $55,798,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Good Life Advisors LLC purchased a new stake in Shell Midstream Partners during the fourth quarter valued at about $211,000. BNP Paribas Arbitrage SA purchased a new stake in Shell Midstream Partners during the first quarter valued at about $239,000. Linscomb & Williams Inc. raised its stake in Shell Midstream Partners by 30.3% in the fourth quarter. Linscomb & Williams Inc. now owns 9,084 shares of the pipeline company’s stock valued at $264,000 after buying an additional 2,110 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Shell Midstream Partners by 39.5% in the first quarter. Bank of New York Mellon Corp now owns 10,117 shares of the pipeline company’s stock valued at $326,000 after buying an additional 2,864 shares in the last quarter. Finally, Country Club Trust Company n.a. raised its stake in Shell Midstream Partners by 1.3% in the first quarter. Country Club Trust Company n.a. now owns 10,606 shares of the pipeline company’s stock valued at $342,000 after buying an additional 141 shares in the last quarter. 81.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of Shell Midstream Partners LP (NYSE:SHLX) traded up 1.97% during midday trading on Friday, reaching $31.50. The company’s stock had a trading volume of 373,709 shares. The stock has a 50 day moving average price of $32.20 and a 200-day moving average price of $30.49. Shell Midstream Partners LP has a 52-week low of $25.42 and a 52-week high of $35.17. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 24.44 and a beta of 1.25.
Shell Midstream Partners (NYSE:SHLX) last posted its earnings results on Friday, May 5th. The pipeline company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The company had revenue of $70.20 million for the quarter, compared to the consensus estimate of $77.82 million. Shell Midstream Partners had a return on equity of 56.13% and a net margin of 77.39%. Shell Midstream Partners’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. Equities research analysts expect that Shell Midstream Partners LP will post $1.53 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 12th. Investors of record on Monday, May 1st were given a dividend of $0.291 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Thursday, April 27th. This is an increase from Shell Midstream Partners’s previous quarterly dividend of $0.28. Shell Midstream Partners’s dividend payout ratio (DPR) is 83.46%.
SHLX has been the topic of several research reports. Mizuho reissued a “buy” rating and set a $36.00 price target on shares of Shell Midstream Partners in a research report on Tuesday, February 28th. Zacks Investment Research raised Shell Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, JPMorgan Chase & Co. initiated coverage on Shell Midstream Partners in a research report on Wednesday, February 1st. They set an “overweight” rating and a $38.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Shell Midstream Partners has an average rating of “Buy” and an average target price of $37.86.
About Shell Midstream Partners
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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