Zimmer Partners LP boosted its position in shares of Shell Midstream Partners, L.P. (NYSE:SHLX) by 6.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 648,491 shares of the pipeline company’s stock after buying an additional 41,605 shares during the period. Zimmer Partners LP owned approximately 0.16% of Shell Midstream Partners worth $8,651,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in SHLX. Alps Advisors Inc. grew its stake in Shell Midstream Partners by 6.0% during the first quarter. Alps Advisors Inc. now owns 16,555,363 shares of the pipeline company’s stock worth $220,849,000 after buying an additional 941,499 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in Shell Midstream Partners during the first quarter worth about $4,159,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Shell Midstream Partners by 7.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,487,293 shares of the pipeline company’s stock worth $46,520,000 after buying an additional 247,115 shares in the last quarter. Cohen & Steers Inc. boosted its stake in shares of Shell Midstream Partners by 76.5% in the 1st quarter. Cohen & Steers Inc. now owns 216,662 shares of the pipeline company’s stock valued at $2,890,000 after purchasing an additional 93,876 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Shell Midstream Partners by 1.4% in the 4th quarter. JPMorgan Chase & Co. now owns 6,617,323 shares of the pipeline company’s stock valued at $66,702,000 after purchasing an additional 93,676 shares in the last quarter. Hedge funds and other institutional investors own 20.69% of the company’s stock.
A number of research firms have recently weighed in on SHLX. Zacks Investment Research upgraded shares of Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Shell Midstream Partners from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Thursday, May 13th. Finally, Mizuho raised their price target on shares of Shell Midstream Partners from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $13.17.
Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings results on Friday, April 30th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.03. The firm had revenue of $139.00 million during the quarter, compared to analyst estimates of $135.14 million. Shell Midstream Partners had a net margin of 113.83% and a return on equity of 90.23%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. On average, analysts forecast that Shell Midstream Partners, L.P. will post 1.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Tuesday, May 4th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 13.93%. The ex-dividend date was Monday, May 3rd. Shell Midstream Partners’s payout ratio is 147.20%.
Shell Midstream Partners Company Profile
Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream, and logistics 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.
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