Wells Fargo & Company MN grew its stake in shares of Shell Midstream Partners LP (NYSE:SHLX) by 77.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 422,181 shares of the pipeline company’s stock after purchasing an additional 184,592 shares during the quarter. Wells Fargo & Company MN owned 0.19% of Shell Midstream Partners worth $8,748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SHLX. Macroview Investment Management LLC acquired a new position in shares of Shell Midstream Partners during the first quarter worth about $28,000. Advisor Group Inc. lifted its stake in shares of Shell Midstream Partners by 213.2% during the second quarter. Advisor Group Inc. now owns 1,638 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 1,115 shares in the last quarter. Lee Financial Co purchased a new stake in shares of Shell Midstream Partners during the second quarter worth about $54,000. Monetary Management Group Inc. increased its position in shares of Shell Midstream Partners by 750.0% during the first quarter. Monetary Management Group Inc. now owns 6,800 shares of the pipeline company’s stock worth $139,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Berman Capital Advisors LLC increased its position in shares of Shell Midstream Partners by 2,311.9% during the second quarter. Berman Capital Advisors LLC now owns 8,900 shares of the pipeline company’s stock worth $182,000 after acquiring an additional 8,531 shares during the last quarter. Institutional investors own 53.81% of the company’s stock.

A number of brokerages have recently issued reports on SHLX. UBS Group dropped their target price on Shell Midstream Partners from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday. Zacks Investment Research raised Shell Midstream Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. lowered Shell Midstream Partners from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $23.00 to $22.00 in a research report on Tuesday, August 20th. Credit Suisse Group lowered Shell Midstream Partners from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $22.00 to $17.00 in a research report on Tuesday, June 11th. Finally, Mizuho lowered Shell Midstream Partners from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $22.00 to $19.00 in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $21.63.

Shell Midstream Partners stock traded up $0.69 during midday trading on Friday, hitting $20.21. The stock had a trading volume of 42,946 shares, compared to its average volume of 687,529. The stock has a market cap of $4.57 billion, a P/E ratio of 10.88, a P/E/G ratio of 13.86 and a beta of 1.05. Shell Midstream Partners LP has a 12 month low of $15.86 and a 12 month high of $22.40. The business has a fifty day moving average price of $20.27 and a 200 day moving average price of $20.29.

Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.02). The firm had revenue of $121.00 million during the quarter, compared to the consensus estimate of $119.43 million. Shell Midstream Partners had a net margin of 97.92% and a negative return on equity of 137.43%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, equities research analysts forecast that Shell Midstream Partners LP will post 1.41 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Monday, August 5th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 8.51%. The ex-dividend date was Friday, August 2nd.

Shell Midstream Partners Profile

Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. It owns interests in crude oil and refined products pipelines and terminals to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets.

Featured Article: LIBOR

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

Receive News & Ratings for Shell Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shell Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.