Goldman Sachs Group Inc. raised its position in Shell Midstream Partners, L.P. (NYSE:SHLX) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,249,453 shares of the pipeline company’s stock after buying an additional 73,184 shares during the quarter. Goldman Sachs Group Inc. owned about 2.40% of Shell Midstream Partners, L.P. worth $128,758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Envestnet Asset Management Inc. raised its position in shares of Shell Midstream Partners, L.P. by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock valued at $149,000 after purchasing an additional 63 shares during the period. Johnson Financial Group LLC purchased a new stake in shares of Shell Midstream Partners, L.P. during the 2nd quarter valued at approximately $218,000. BNP Paribas Arbitrage SA bought a new position in Shell Midstream Partners, L.P. in the 1st quarter worth approximately $239,000. Doliver Capital Advisors LP bought a new position in Shell Midstream Partners, L.P. in the 2nd quarter worth approximately $242,000. Finally, Proficio Capital Partners LLC boosted its holdings in Shell Midstream Partners, L.P. by 37.6% in the 1st quarter. Proficio Capital Partners LLC now owns 8,516 shares of the pipeline company’s stock worth $266,000 after buying an additional 2,326 shares during the period. Hedge funds and other institutional investors own 43.76% of the company’s stock.

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Shares of Shell Midstream Partners, L.P. (NYSE:SHLX) traded down 0.591% during midday trading on Tuesday, hitting $27.775. 15,676 shares of the stock were exchanged. The firm’s 50 day moving average price is $27.25 and its 200-day moving average price is $29.66. Shell Midstream Partners, L.P. has a 52-week low of $25.42 and a 52-week high of $34.17. The stock has a market cap of $4.93 billion, a P/E ratio of 22.526 and a beta of 1.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last posted its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.02). The firm had revenue of $86.80 million during the quarter, compared to the consensus estimate of $69.55 million. Shell Midstream Partners, L.P. had a return on equity of 258.67% and a net margin of 87.22%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 earnings per share. On average, equities research analysts expect that Shell Midstream Partners, L.P. will post $1.36 earnings per share for the current fiscal year.

A number of research firms recently weighed in on SHLX. Stifel Nicolaus reiterated a “buy” rating and issued a $36.00 price objective on shares of Shell Midstream Partners, L.P. in a research note on Friday, July 14th. BidaskClub raised shares of Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research downgraded Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $41.00 target price on shares of Shell Midstream Partners, L.P. in a research report on Wednesday, September 27th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Shell Midstream Partners, L.P. currently has an average rating of “Buy” and a consensus price target of $36.83.

About Shell Midstream Partners, L.P.

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, L.P. (NYSE:SHLX)

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