Balentine LLC grew its holdings in Shell Midstream Partners LP (NYSE:SHLX) by 63.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,763 shares of the pipeline company’s stock after purchasing an additional 3,021 shares during the period. Balentine LLC’s holdings in Shell Midstream Partners were worth $216,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tiedemann Wealth Management LLC raised its holdings in shares of Shell Midstream Partners by 5.8% in the third quarter. Tiedemann Wealth Management LLC now owns 249,439 shares of the pipeline company’s stock valued at $6,642,000 after purchasing an additional 13,649 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of Shell Midstream Partners by 5.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 107,700 shares of the pipeline company’s stock valued at $2,998,000 after buying an additional 5,960 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Shell Midstream Partners by 7.9% in the second quarter. PNC Financial Services Group Inc. now owns 120,886 shares of the pipeline company’s stock valued at $3,663,000 after buying an additional 8,892 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Shell Midstream Partners in the second quarter valued at $1,030,000. Finally, Blair William & Co. IL grew its stake in shares of Shell Midstream Partners by 1.1% in the second quarter. Blair William & Co. IL now owns 152,772 shares of the pipeline company’s stock valued at $4,629,000 after buying an additional 1,615 shares in the last quarter. Institutional investors own 53.20% of the company’s stock.

Shell Midstream Partners LP (NYSE:SHLX) traded down $0.03 during mid-day trading on Monday, reaching $26.82. 499,600 shares of the company’s stock were exchanged, compared to its average volume of 368,880. The company has a debt-to-equity ratio of 42.36, a quick ratio of 3.36 and a current ratio of 3.36. Shell Midstream Partners LP has a 1 year low of $24.68 and a 1 year high of $34.17. The company has a market capitalization of $5,036.32, a PE ratio of 21.12, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15.

Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05). Shell Midstream Partners had a return on equity of 3,826.80% and a net margin of 85.14%. The company had revenue of $94.40 million for the quarter, compared to the consensus estimate of $86.36 million. During the same period last year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 39.0% compared to the same quarter last year. research analysts expect that Shell Midstream Partners LP will post 1.27 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 14th were given a dividend of $0.318 per share. This represents a $1.27 dividend on an annualized basis and a yield of 4.74%. This is a boost from Shell Midstream Partners’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, October 30th. Shell Midstream Partners’s payout ratio is 100.00%.

SHLX has been the subject of several analyst reports. Barclays decreased their target price on shares of Shell Midstream Partners from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, November 6th. Zacks Investment Research raised shares of Shell Midstream Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. BidaskClub raised shares of Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 target price on shares of Shell Midstream Partners in a research note on Friday, September 15th. Finally, Citigroup reissued a “buy” rating and issued a $32.00 target price (down from $36.50) on shares of Shell Midstream Partners in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Shell Midstream Partners has a consensus rating of “Buy” and a consensus target price of $34.50.

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About Shell Midstream Partners

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 (NYSE:SHLX)

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