Pointe Capital Management LLC raised its position in Shell Midstream Partners, L.P. (NYSE:SHLX) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,745 shares of the pipeline company’s stock after buying an additional 3,086 shares during the period. Pointe Capital Management LLC’s holdings in Shell Midstream Partners, L.P. were worth $1,386,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in shares of 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 during the period. Paragon Capital Management Ltd raised its stake in shares of Shell Midstream Partners, L.P. by 0.9% in the second quarter. Paragon Capital Management Ltd now owns 11,800 shares of the pipeline company’s stock worth $358,000 after buying an additional 105 shares during the period. Country Club Trust Company n.a. raised its stake 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 period. Global Endowment Management LP raised its stake in shares of Shell Midstream Partners, L.P. by 1.0% in the first quarter. Global Endowment Management LP now owns 19,620 shares of the pipeline company’s stock worth $633,000 after buying an additional 200 shares during the period. Finally, Diversified Trust Co raised its stake in shares of Shell Midstream Partners, L.P. by 1.6% in the second quarter. Diversified Trust Co now owns 28,777 shares of the pipeline company’s stock worth $872,000 after buying an additional 450 shares during the period. Institutional investors own 49.62% of the company’s stock.

Shares of Shell Midstream Partners, L.P. (NYSE SHLX) opened at 27.04 on Thursday. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 20.98 and a beta of 1.17. The company’s 50 day moving average is $29.10 and its 200-day moving average is $31.07. Shell Midstream Partners, L.P. has a 1-year low of $25.42 and a 1-year high of $34.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last announced its earnings results on Thursday, August 3rd. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by $0.02. The company had revenue of $86.80 million for the quarter, compared to analysts’ expectations of $69.55 million. Shell Midstream Partners, L.P. had a net margin of 87.22% and a return on equity of 258.67%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share. Equities analysts anticipate that Shell Midstream Partners, L.P. will post $1.41 earnings per share for the current fiscal year.

The business also recently announced 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 of this dividend is Thursday, July 27th. This represents a $1.22 annualized dividend and a dividend yield of 4.50%. Shell Midstream Partners, L.P.’s payout ratio is currently 98.39%.

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A number of brokerages have issued reports on SHLX. Zacks Investment Research lowered shares of Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, April 27th. BidaskClub lowered shares of Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $36.00 price target on shares of Shell Midstream Partners, L.P. in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.83.

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

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