Kayne Anderson Capital Advisors LP increased its stake in Shell Midstream Partners LP (NYSE:SHLX) by 5.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,501,261 shares of the pipeline company’s stock after buying an additional 235,600 shares during the period. Shell Midstream Partners accounts for approximately 1.5% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 20th largest position. Kayne Anderson Capital Advisors LP owned 2.54% of Shell Midstream Partners worth $145,061,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Good Life Advisors LLC bought a new stake in shares of Shell Midstream Partners during the fourth quarter valued at about $211,000. BNP Paribas Arbitrage SA bought a new stake in shares of Shell Midstream Partners during the first quarter valued at about $239,000. Linscomb & Williams Inc. boosted its stake in shares of 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 boosted its stake in shares of 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. boosted its stake in shares of 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. Institutional investors own 81.00% of the company’s stock.
Shares of Shell Midstream Partners LP (NYSE:SHLX) traded up 1.97% during midday trading on Friday, reaching $31.50. 373,709 shares of the company traded hands. Shell Midstream Partners LP has a 1-year low of $25.42 and a 1-year high of $35.17. The company has a market capitalization of $5.59 billion, a PE ratio of 24.44 and a beta of 1.25. The company has a 50 day moving average price of $32.20 and a 200 day moving average price of $30.49.
Shell Midstream Partners (NYSE:SHLX) last released its earnings results on Friday, May 5th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.02. The company had revenue of $70.20 million for the quarter, compared to analysts’ expectations of $77.82 million. Shell Midstream Partners had a return on equity of 56.13% and a net margin of 77.39%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, analysts expect that Shell Midstream Partners LP will post $1.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Monday, May 1st were given a dividend of $0.291 per share. This represents a $1.16 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, April 27th. This is an increase from Shell Midstream Partners’s previous quarterly dividend of $0.28. Shell Midstream Partners’s payout ratio is currently 83.46%.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Shell Midstream Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 9th. Mizuho restated a “buy” rating and issued a $36.00 target price on shares of Shell Midstream Partners in a report on Tuesday, February 28th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Shell Midstream Partners in a report on Wednesday, February 1st. They issued an “overweight” rating and a $38.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $37.86.
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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