Shell Midstream Partners, L.P. (SHLX) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Shell Midstream Partners, L.P. (NYSE:SHLX) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,263,826 shares of the pipeline company’s stock after acquiring an additional 133,206 shares during the quarter. Shell Midstream Partners comprises 0.9% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s investment portfolio, making the stock its 16th biggest holding. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 1.21% of Shell Midstream Partners worth $63,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cedar Wealth Management LLC boosted its position in shares of Shell Midstream Partners by 129.4% during the 3rd quarter. Cedar Wealth Management LLC now owns 5,230 shares of the pipeline company’s stock worth $146,000 after purchasing an additional 2,950 shares in the last quarter. Saratoga Research & Investment Management bought a new position in shares of Shell Midstream Partners during the 3rd quarter worth about $146,000. The Manufacturers Life Insurance Company boosted its position in shares of Shell Midstream Partners by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after purchasing an additional 398 shares in the last quarter. Doliver Capital Advisors LP bought a new position in shares of Shell Midstream Partners during the 2nd quarter worth about $242,000. Finally, Veritable L.P. boosted its position in shares of Shell Midstream Partners by 7.6% during the 2nd quarter. Veritable L.P. now owns 9,411 shares of the pipeline company’s stock worth $285,000 after purchasing an additional 665 shares in the last quarter. 42.21% of the stock is currently owned by institutional investors and hedge funds.

Shell Midstream Partners, L.P. (NYSE:SHLX) traded down $0.08 on Monday, hitting $25.76. 70,900 shares of the company were exchanged, compared to its average volume of 360,289. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 42.36. Shell Midstream Partners, L.P. has a 12 month low of $24.68 and a 12 month high of $34.17. The firm has a market cap of $4,840.00, a price-to-earnings ratio of 20.28, a PEG ratio of 1.57 and a beta of 1.12.

Shell Midstream Partners (NYSE:SHLX) last posted its earnings results on Friday, November 3rd. The pipeline company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05). Shell Midstream Partners had a return on equity of 3,826.80% and a net margin of 85.14%. The business had revenue of $94.40 million during the quarter, compared to analyst estimates of $86.36 million. During the same quarter in the prior year, the company earned $0.28 EPS. The company’s revenue was up 39.0% on a year-over-year basis. sell-side analysts predict that Shell Midstream Partners, L.P. will post 1.26 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 14th were issued a $0.318 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend was Monday, October 30th. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.30. Shell Midstream Partners’s dividend payout ratio is currently 100.79%.

A number of equities analysts have recently issued reports on the stock. Citigroup Inc. reissued a “buy” rating and set a $32.00 price objective (down previously from $36.50) on shares of Shell Midstream Partners in a research report on Monday, November 20th. UBS AG cut their price objective on shares of Shell Midstream Partners from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, November 17th. Barclays PLC cut their price objective on shares of Shell Midstream Partners from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. Morgan Stanley cut their price objective on shares of Shell Midstream Partners from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. Finally, BidaskClub raised shares of Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $34.50.

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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.

Institutional Ownership by Quarter for Shell Midstream Partners (NYSE:SHLX)

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