FFT Wealth Management LLC maintained its stake in Shell Midstream Partners, L.P. (NYSE:SHLX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,071 shares of the pipeline company’s stock at the end of the second quarter. FFT Wealth Management LLC’s holdings in Shell Midstream Partners, L.P. were worth $275,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Chickasaw Capital Management LLC raised its stake in Shell Midstream Partners, L.P. by 1.8% in the second quarter. Chickasaw Capital Management LLC now owns 8,626,823 shares of the pipeline company’s stock worth $261,393,000 after buying an additional 153,936 shares in the last quarter. Alps Advisors Inc. raised its stake in Shell Midstream Partners, L.P. by 3.6% in the second quarter. Alps Advisors Inc. now owns 6,485,097 shares of the pipeline company’s stock worth $196,498,000 after buying an additional 223,977 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Shell Midstream Partners, L.P. by 5.5% in the first quarter. Kayne Anderson Capital Advisors LP now owns 4,501,261 shares of the pipeline company’s stock worth $145,061,000 after buying an additional 235,600 shares in the last quarter. OppenheimerFunds Inc. raised its stake in Shell Midstream Partners, L.P. by 20.4% in the first quarter. OppenheimerFunds Inc. now owns 3,565,333 shares of the pipeline company’s stock worth $114,911,000 after buying an additional 604,158 shares in the last quarter. Finally, Eagle Global Advisors LLC raised its stake in Shell Midstream Partners, L.P. by 7.5% in the first quarter. Eagle Global Advisors LLC now owns 1,731,257 shares of the pipeline company’s stock worth $55,798,000 after buying an additional 120,935 shares in the last quarter. 46.02% of the stock is owned by institutional investors.

Shares of Shell Midstream Partners, L.P. (NYSE:SHLX) opened at 27.15 on Thursday. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 22.02 and a beta of 1.17. 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 50 day moving average of $28.09 and a 200-day moving average of $30.58.

Shell Midstream Partners, L.P. (NYSE:SHLX) last released its earnings results on Thursday, August 3rd. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by $0.02. Shell Midstream Partners, L.P. had a return on equity of 258.67% and a net margin of 87.22%. The business had revenue of $86.80 million for the quarter, compared to analyst estimates of $69.55 million. During the same period in the prior year, the business earned $0.35 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities research analysts predict that Shell Midstream Partners, L.P. will post $1.37 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were paid a dividend of $0.3041 per share. The ex-dividend date was Thursday, July 27th. This represents a $1.22 annualized dividend and a yield of 4.48%. Shell Midstream Partners, L.P.’s dividend payout ratio is currently 98.39%.

COPYRIGHT VIOLATION WARNING: This article was first reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.watchlistnews.com/shell-midstream-partners-l-p-shlx-position-held-by-fft-wealth-management-llc/1534074.html.

SHLX has been the subject of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $36.00 price objective on shares of Shell Midstream Partners, L.P. in a research note on Friday, July 14th. BidaskClub lowered shares of Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $41.00 price objective on shares of Shell Midstream Partners, L.P. in a research note on Monday, August 21st. Finally, Zacks Investment Research raised shares of Shell Midstream Partners, L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Shell Midstream Partners, L.P. presently has an average rating of “Buy” and an average target price of $37.83.

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.

Institutional Ownership by Quarter for Shell Midstream Partners, L.P. (NYSE:SHLX)

Receive News & Ratings for Shell Midstream Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shell Midstream Partners L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.