MHI Funds LLC Grows Position in Shell Midstream Partners LP (NYSE:SHLX)
MHI Funds LLC raised its position in Shell Midstream Partners LP (NYSE:SHLX) by 11.2% during the third quarter, HoldingsChannel.com reports. The firm owned 10,299 shares of the pipeline company’s stock after buying an additional 1,036 shares during the quarter. MHI Funds LLC’s holdings in Shell Midstream Partners were worth $211,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in SHLX. GYL Financial Synergies LLC purchased a new position in shares of Shell Midstream Partners in the 1st quarter worth about $511,000. Adams Asset Advisors LLC purchased a new position in shares of Shell Midstream Partners in the 2nd quarter worth about $737,000. A. D. Beadell Investment Counsel Inc. raised its holdings in shares of Shell Midstream Partners by 63.5% in the 2nd quarter. A. D. Beadell Investment Counsel Inc. now owns 25,875 shares of the pipeline company’s stock worth $536,000 after purchasing an additional 10,050 shares during the period. Nwam LLC purchased a new position in shares of Shell Midstream Partners in the 2nd quarter worth about $332,000. Finally, Kayne Anderson Capital Advisors LP raised its holdings in shares of Shell Midstream Partners by 5.8% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 10,270,755 shares of the pipeline company’s stock worth $212,800,000 after purchasing an additional 562,500 shares during the period. Institutional investors own 51.30% of the company’s stock.
A number of research firms have recently commented on SHLX. Zacks Investment Research upgraded Shell Midstream Partners from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a report on Thursday, October 3rd. UBS Group cut their price objective on Shell Midstream Partners from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. JPMorgan Chase & Co. downgraded Shell Midstream Partners from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $23.00 to $22.00 in a report on Tuesday, August 20th. Finally, Mizuho downgraded Shell Midstream Partners from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $22.00 to $19.00 in a report on Wednesday, July 17th. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.43.
Shell Midstream Partners (NYSE:SHLX) last announced its earnings results on Thursday, August 1st. The pipeline company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $121.00 million for the quarter, compared to analysts’ expectations of $119.43 million. Shell Midstream Partners had a net margin of 97.92% and a negative return on equity of 137.43%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share. On average, equities analysts expect that Shell Midstream Partners LP will post 1.59 earnings per share for the current fiscal year.
Shell Midstream Partners Company Profile
Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream 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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