Credit Suisse AG decreased its position in Shell Midstream Partners, L.P. (NYSE:SHLX) by 76.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,071 shares of the pipeline company’s stock after selling 245,273 shares during the period. Credit Suisse AG’s holdings in Shell Midstream Partners, L.P. were worth $2,484,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SHLX. Envestnet Asset Management Inc. increased its stake in Shell Midstream Partners, L.P. by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock worth $149,000 after buying an additional 63 shares in the last quarter. BNP Paribas Arbitrage SA bought a new position in shares of Shell Midstream Partners, L.P. during the first quarter worth about $239,000. Bank of New York Mellon Corp boosted its position in shares of Shell Midstream Partners, L.P. by 39.5% in the first quarter. Bank of New York Mellon Corp now owns 10,117 shares of the pipeline company’s stock worth $326,000 after buying an additional 2,864 shares during the last quarter. Country Club Trust Company n.a. boosted its position in shares of Shell Midstream Partners, L.P. by 1.3% in the first quarter. Country Club Trust Company n.a. now owns 10,606 shares of the pipeline company’s stock worth $342,000 after buying an additional 141 shares during the last quarter. Finally, Linscomb & Williams Inc. boosted its position in shares of Shell Midstream Partners, L.P. by 22.3% in the first quarter. Linscomb & Williams Inc. now owns 11,110 shares of the pipeline company’s stock worth $358,000 after buying an additional 2,026 shares during the last quarter. Hedge funds and other institutional investors own 49.95% of the company’s stock.

Shell Midstream Partners, L.P. (NYSE SHLX) traded down 1.72% during midday trading on Friday, reaching $27.43. The company had a trading volume of 177,567 shares. Shell Midstream Partners, L.P. has a 12-month low of $25.42 and a 12-month high of $34.17. The stock’s 50 day moving average is $29.32 and its 200 day moving average is $31.21. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 21.28 and a beta of 1.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last issued its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.02. The business had revenue of $86.80 million for the quarter, compared to the consensus estimate of $69.55 million. Shell Midstream Partners, L.P. had a return on equity of 119.54% and a net margin of 87.22%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 earnings per share. Equities research analysts expect that Shell Midstream Partners, L.P. will post $1.43 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be issued a dividend of $0.3041 per share. The ex-dividend date is Thursday, July 27th. This represents a $1.22 dividend on an annualized basis and a yield of 4.43%. Shell Midstream Partners, L.P.’s dividend payout ratio (DPR) is currently 98.39%.

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A number of research analysts recently issued reports on SHLX shares. Zacks Investment Research cut Shell Midstream Partners, L.P. from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 9th. BidaskClub raised Shell Midstream Partners, L.P. from a “strong sell” rating to a “sell” rating in a report on Thursday, June 29th. Finally, Stifel Nicolaus restated a “buy” rating and set a $36.00 target price on shares of Shell Midstream Partners, L.P. in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Shell Midstream Partners, L.P. has a consensus rating of “Hold” and a consensus price target of $37.83.

About Shell Midstream Partners, L.P.

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

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