Port Capital LLC lifted its holdings in shares of Shell Midstream Partners LP (NYSE:SHLX) by 222.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 378,875 shares of the pipeline company’s stock after purchasing an additional 261,435 shares during the quarter. Port Capital LLC’s holdings in Shell Midstream Partners were worth $8,100,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SHLX. Tortoise Capital Advisors L.L.C. increased its stake in shares of Shell Midstream Partners by 6.2% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 18,766,964 shares of the pipeline company’s stock worth $401,238,000 after buying an additional 1,088,507 shares during the period. RR Advisors LLC increased its stake in shares of Shell Midstream Partners by 25.3% during the third quarter. RR Advisors LLC now owns 1,886,000 shares of the pipeline company’s stock worth $40,342,000 after buying an additional 381,000 shares during the period. Parkside Financial Bank & Trust purchased a new stake in shares of Shell Midstream Partners during the third quarter worth approximately $833,000. First Republic Investment Management Inc. purchased a new stake in shares of Shell Midstream Partners during the second quarter worth approximately $3,105,000. Finally, Duff & Phelps Investment Management Co. increased its stake in shares of Shell Midstream Partners by 23.4% during the third quarter. Duff & Phelps Investment Management Co. now owns 534,625 shares of the pipeline company’s stock worth $11,430,000 after buying an additional 101,300 shares during the period. 54.22% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on SHLX. JPMorgan Chase & Co. cut their target price on shares of Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, August 24th. ValuEngine upgraded shares of Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 17th. Zacks Investment Research upgraded shares of Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, August 29th. Wells Fargo & Co cut their target price on shares of Shell Midstream Partners from $24.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, September 13th. Finally, Credit Suisse Group began coverage on shares of Shell Midstream Partners in a research note on Thursday, October 11th. They set a “neutral” rating and a $24.00 target price on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.04.

Shell Midstream Partners stock traded down $0.42 during mid-day trading on Thursday, hitting $18.95. The company had a trading volume of 1,695 shares, compared to its average volume of 769,621. The firm has a market capitalization of $4.34 billion, a P/E ratio of 14.79, a P/E/G ratio of 4.25 and a beta of 1.11. Shell Midstream Partners LP has a 1 year low of $18.32 and a 1 year high of $31.19. The company has a quick ratio of 4.64, a current ratio of 4.64 and a debt-to-equity ratio of 2.18.

Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings results on Thursday, November 1st. The pipeline company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The company had revenue of $153.50 million for the quarter, compared to analyst estimates of $137.00 million. Shell Midstream Partners had a net margin of 80.40% and a negative return on equity of 215.59%. During the same period in the prior year, the firm posted $0.31 earnings per share. As a group, research analysts expect that Shell Midstream Partners LP will post 1.52 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th were paid a $0.382 dividend. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.37. This represents a $1.53 annualized dividend and a yield of 8.06%. The ex-dividend date was Friday, November 2nd. Shell Midstream Partners’s dividend payout ratio is currently 119.53%.

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Shell Midstream Partners Company 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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