Brookfield Asset Management Inc. acquired a new stake in Shell Midstream Partners LP (NYSE:SHLX) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 56,527 shares of the pipeline company’s stock, valued at approximately $1,686,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tortoise Capital Advisors L.L.C. grew its stake in Shell Midstream Partners by 109.8% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 20,435,426 shares of the pipeline company’s stock valued at $568,922,000 after acquiring an additional 10,695,678 shares during the last quarter. Chickasaw Capital Management LLC grew its stake in Shell Midstream Partners by 5.6% in the 4th quarter. Chickasaw Capital Management LLC now owns 9,301,433 shares of the pipeline company’s stock valued at $277,369,000 after acquiring an additional 489,186 shares during the last quarter. Alps Advisors Inc. grew its stake in Shell Midstream Partners by 14.4% in the 4th quarter. Alps Advisors Inc. now owns 8,254,680 shares of the pipeline company’s stock valued at $246,155,000 after acquiring an additional 1,036,262 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in shares of Shell Midstream Partners by 12.9% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,690,840 shares of the pipeline company’s stock worth $139,866,000 after purchasing an additional 534,342 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in shares of Shell Midstream Partners by 0.3% during the 4th quarter. OppenheimerFunds Inc. now owns 3,231,565 shares of the pipeline company’s stock worth $96,365,000 after purchasing an additional 9,529 shares during the last quarter. 44.87% of the stock is currently owned by hedge funds and other institutional investors.

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SHLX has been the topic of several analyst reports. UBS reaffirmed a “buy” rating and set a $38.00 price target (down from $40.00) on shares of Shell Midstream Partners in a research note on Friday, March 2nd. Stifel Nicolaus set a $30.00 price target on shares of Shell Midstream Partners and gave the stock a “buy” rating in a research note on Thursday, November 30th. Zacks Investment Research raised shares of Shell Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, March 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Shell Midstream Partners in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $31.00 price target (down from $32.00) on shares of Shell Midstream Partners in a research note on Tuesday, March 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.71.

Shares of Shell Midstream Partners stock opened at $22.18 on Thursday. Shell Midstream Partners LP has a 12 month low of $22.01 and a 12 month high of $33.34. The stock has a market cap of $5,098.43, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.48 and a beta of 1.15. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of -3.30.

Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings results on Tuesday, February 27th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.03. The company had revenue of $127.00 million for the quarter, compared to analysts’ expectations of $96.23 million. Shell Midstream Partners had a net margin of 78.08% and a negative return on equity of 179.87%. During the same period last year, the company earned $0.34 EPS. sell-side analysts predict that Shell Midstream Partners LP will post 1.54 earnings per share for the current fiscal year.

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Shell Midstream Partners Profile

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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