42,659 Shares in Shell Midstream Partners, L.P. (SHLX) Acquired by Pointe Capital Management LLC

Pointe Capital Management LLC purchased a new position in Shell Midstream Partners, L.P. (NYSE:SHLX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 42,659 shares of the pipeline company’s stock, valued at approximately $1,375,000. Shell Midstream Partners, L.P. comprises about 1.0% of Pointe Capital Management LLC’s investment portfolio, making the stock its 26th largest position.

Other institutional investors also recently bought and sold shares of the company. Mariner Investment Group LLC bought a new position in Shell Midstream Partners, L.P. during the first quarter worth $806,000. Blair William & Co. IL boosted its position in Shell Midstream Partners, L.P. by 12.7% in the first quarter. Blair William & Co. IL now owns 151,157 shares of the pipeline company’s stock worth $4,952,000 after buying an additional 17,077 shares during the period. First Trust Advisors LP boosted its position in Shell Midstream Partners, L.P. by 14.9% in the first quarter. First Trust Advisors LP now owns 162,815 shares of the pipeline company’s stock worth $5,248,000 after buying an additional 21,083 shares during the period. Hollencrest Securities LLC bought a new position in Shell Midstream Partners, L.P. during the first quarter worth $403,000. Finally, Spirit of America Management Corp NY boosted its position in Shell Midstream Partners, L.P. by 61.9% in the first quarter. Spirit of America Management Corp NY now owns 621,593 shares of the pipeline company’s stock worth $20,034,000 after buying an additional 237,650 shares during the period. 49.86% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Shell Midstream Partners, L.P. (NYSE:SHLX)

Shell Midstream Partners, L.P. (SHLX) traded up 3.37% during midday trading on Friday, hitting $28.84. 252,823 shares of the company traded hands. Shell Midstream Partners, L.P. has a 12-month low of $25.42 and a 12-month high of $34.25. The stock has a market cap of $5.11 billion, a P/E ratio of 22.37 and a beta of 1.20. The stock has a 50 day moving average of $30.62 and a 200 day moving average of $31.03.

Shell Midstream Partners, L.P. (NYSE:SHLX) last released its quarterly earnings data on Friday, May 5th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $70.20 million during the quarter, compared to the consensus estimate of $77.82 million. Shell Midstream Partners, L.P. had a net margin of 91.43% and a return on equity of 99.20%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 EPS. Equities research analysts predict that Shell Midstream Partners, L.P. will post $1.47 EPS for the current fiscal year.

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SHLX has been the topic of several recent research reports. Zacks Investment Research lowered shares of Shell Midstream Partners, L.P. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 9th. Mizuho reiterated a “buy” rating and issued a $36.00 price objective on shares of Shell Midstream Partners, L.P. in a research report on Tuesday, February 28th. Finally, BidaskClub lowered shares of Shell Midstream Partners, L.P. from a “sell” rating to a “strong sell” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.67.

Shell Midstream Partners, L.P. 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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