First Republic Investment Management Inc. acquired a new stake in shares of Shell Midstream Partners LP (NYSE:SHLX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 139,980 shares of the pipeline company’s stock, valued at approximately $3,105,000. First Republic Investment Management Inc. owned about 0.06% of Shell Midstream Partners at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baldwin Brothers Inc. MA purchased a new stake in shares of Shell Midstream Partners during the second quarter valued at $291,000. Icon Wealth Partners LLC grew its holdings in shares of Shell Midstream Partners by 22.2% during the first quarter. Icon Wealth Partners LLC now owns 16,923 shares of the pipeline company’s stock valued at $356,000 after buying an additional 3,069 shares during the last quarter. Botty Investors LLC grew its holdings in shares of Shell Midstream Partners by 525.0% during the first quarter. Botty Investors LLC now owns 17,801 shares of the pipeline company’s stock valued at $375,000 after buying an additional 14,953 shares during the last quarter. Tortoise Index Solutions LLC grew its holdings in shares of Shell Midstream Partners by 16.3% during the second quarter. Tortoise Index Solutions LLC now owns 20,346 shares of the pipeline company’s stock valued at $451,000 after buying an additional 2,845 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC grew its holdings in shares of Shell Midstream Partners by 10.4% during the first quarter. Infrastructure Capital Advisors LLC now owns 25,902 shares of the pipeline company’s stock valued at $545,000 after buying an additional 2,446 shares during the last quarter. 54.83% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, September 11th. Wells Fargo & Co dropped their price objective on shares of Shell Midstream Partners from $24.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday. Stifel Nicolaus dropped their price objective on shares of Shell Midstream Partners from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, August 3rd. ValuEngine raised shares of Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Friday, August 17th. Finally, Bank of America assumed coverage on shares of Shell Midstream Partners in a report on Tuesday, July 10th. They issued a “buy” rating and a $27.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $27.38.

In other Shell Midstream Partners news, Director Curtis R. Frasier purchased 5,000 shares of the stock in a transaction on Tuesday, June 26th. The shares were bought at an average cost of $21.94 per share, with a total value of $109,700.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at $109,700. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

NYSE:SHLX opened at $21.54 on Friday. Shell Midstream Partners LP has a one year low of $19.42 and a one year high of $31.19. The company has a debt-to-equity ratio of -6.59, a quick ratio of 3.66 and a current ratio of 3.66. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 6.28 and a beta of 1.22.

Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Shell Midstream Partners had a net margin of 74.14% and a negative return on equity of 295.18%. The company had revenue of $129.30 million for the quarter, compared to analyst estimates of $120.71 million. During the same period in the prior year, the company earned $0.18 earnings per share. The firm’s revenue was up 29.8% on a year-over-year basis. sell-side analysts anticipate that Shell Midstream Partners LP will post 1.18 earnings per share for the current year.

Shell Midstream Partners Company Profile

Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. Its crude oil pipeline systems include a 350 miles of Zydeco pipeline system; a 130-miles of delta pipeline; a 174-mile offshore Gulf of Mexico corridor pipeline; and a 75-mile offshore pipeline.

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

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