Putnam Investments LLC acquired a new position in Shell Midstream Partners LP (NYSE:SHLX) during the 2nd quarter, Holdings Channel reports. The fund acquired 82,600 shares of the pipeline company’s stock, valued at approximately $1,832,000.

Several other institutional investors have also added to or reduced their stakes in SHLX. Infrastructure Capital Advisors LLC raised its stake in Shell Midstream Partners by 10.4% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 25,902 shares of the pipeline company’s stock valued at $545,000 after purchasing an additional 2,446 shares during the last quarter. Tortoise Index Solutions LLC raised its stake in Shell Midstream Partners by 16.3% in the 2nd quarter. Tortoise Index Solutions LLC now owns 20,346 shares of the pipeline company’s stock valued at $451,000 after purchasing an additional 2,845 shares during the last quarter. Icon Wealth Partners LLC raised its stake in Shell Midstream Partners by 22.2% in the 1st quarter. Icon Wealth Partners LLC now owns 16,923 shares of the pipeline company’s stock valued at $356,000 after purchasing an additional 3,069 shares during the last quarter. Northern Trust Corp raised its stake in Shell Midstream Partners by 3.0% in the 1st quarter. Northern Trust Corp now owns 207,281 shares of the pipeline company’s stock valued at $4,363,000 after purchasing an additional 6,078 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in Shell Midstream Partners by 9.7% in the 2nd quarter. GSA Capital Partners LLP now owns 73,536 shares of the pipeline company’s stock valued at $1,631,000 after purchasing an additional 6,488 shares during the last quarter. Institutional investors and hedge funds own 54.82% of the company’s stock.

NYSE SHLX opened at $21.31 on Friday. Shell Midstream Partners LP has a 12 month low of $19.42 and a 12 month high of $31.19. The company has a debt-to-equity ratio of -6.59, a current ratio of 3.66 and a quick ratio of 3.66. The stock has a market cap of $4.83 billion, a PE ratio of 16.65, a P/E/G ratio of 5.31 and a beta of 1.22.

Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings data on Thursday, August 2nd. The pipeline company reported $0.35 EPS for the quarter, beating the Zacks’ 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 during the quarter, compared to the consensus estimate of $120.71 million. During the same quarter in the prior year, the company posted $0.18 EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. analysts expect that Shell Midstream Partners LP will post 1.36 earnings per share for the current fiscal year.

SHLX has been the subject of several analyst reports. Stifel Nicolaus cut their target price on shares of Shell Midstream Partners from $26.00 to $24.00 and set a “hold” rating for the company in a research note on Friday, August 3rd. Zacks Investment Research raised shares of Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Thursday, July 19th. Barclays dropped their price objective on shares of Shell Midstream Partners from $29.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 11th. JPMorgan Chase & Co. dropped their price objective on shares of Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, August 24th. Finally, Bank of America assumed coverage on shares of Shell Midstream Partners in a research note on Tuesday, July 10th. They set a “buy” rating and a $27.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $27.38.

Shell Midstream Partners 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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