Shell Midstream Partners, L.P. (SHLX) Shares Sold by Center Coast Capital Advisors LP

Center Coast Capital Advisors LP decreased its position in Shell Midstream Partners, L.P. (NYSE:SHLX) by 52.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,043,430 shares of the pipeline company’s stock after selling 1,140,000 shares during the quarter. Shell Midstream Partners, L.P. accounts for approximately 0.7% of Center Coast Capital Advisors LP’s portfolio, making the stock its 24th largest position. Center Coast Capital Advisors LP owned about 0.56% of Shell Midstream Partners, L.P. worth $29,049,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Saratoga Research & Investment Management acquired a new position in shares of Shell Midstream Partners, L.P. in the third quarter worth $146,000. Cedar Wealth Management LLC grew its stake in shares of Shell Midstream Partners, L.P. by 129.4% in the third quarter. Cedar Wealth Management LLC now owns 5,230 shares of the pipeline company’s stock worth $146,000 after acquiring an additional 2,950 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Shell Midstream Partners, L.P. by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after acquiring an additional 398 shares in the last quarter. Johnson Financial Group LLC acquired a new position in shares of Shell Midstream Partners, L.P. in the second quarter worth $218,000. Finally, Doliver Capital Advisors LP acquired a new position in shares of Shell Midstream Partners, L.P. in the second quarter worth $242,000. 47.09% of the stock is currently owned by institutional investors.

Shares of Shell Midstream Partners, L.P. (NYSE SHLX) traded down $1.05 during mid-day trading on Tuesday, hitting $25.97. 343,900 shares of the company were exchanged, compared to its average volume of 359,797. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 42.36. The firm has a market capitalization of $5,073.88, a P/E ratio of 21.28, a P/E/G ratio of 1.67 and a beta of 1.12. Shell Midstream Partners, L.P. has a 12-month low of $24.68 and a 12-month high of $34.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last issued its earnings results on Friday, November 3rd. The pipeline company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The firm had revenue of $94.40 million for the quarter, compared to analyst estimates of $86.36 million. Shell Midstream Partners, L.P. had a return on equity of 3,826.80% and a net margin of 85.14%. The business’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. equities analysts expect that Shell Midstream Partners, L.P. will post 1.25 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, November 14th will be paid a dividend of $0.318 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 4.90%. This is an increase from Shell Midstream Partners, L.P.’s previous quarterly dividend of $0.30. Shell Midstream Partners, L.P.’s payout ratio is presently 100.00%.

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SHLX has been the subject of several research reports. BidaskClub upgraded shares of Shell Midstream Partners, L.P. from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price target on shares of Shell Midstream Partners, L.P. in a research note on Friday, September 15th. Zacks Investment Research downgraded shares of Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Barclays PLC dropped their price target on shares of Shell Midstream Partners, L.P. from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, November 6th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $41.00 price target on shares of Shell Midstream Partners, L.P. in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Shell Midstream Partners, L.P. currently has a consensus rating of “Hold” and an average target price of $35.00.

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.

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

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