Quantbot Technologies LP lowered its stake in shares of Shell Midstream Partners LP (NYSE:SHLX) by 24.4% during the third quarter, Holdings Channel reports. The fund owned 4,210 shares of the company’s stock after selling 1,360 shares during the period. Quantbot Technologies LP’s holdings in Shell Midstream Partners were worth $135,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of SHLX. Balentine LLC bought a new position in shares of Shell Midstream Partners during the second quarter valued at $156,000. Linscomb & Williams Inc. increased its position in shares of Shell Midstream Partners by 3.3% in the second quarter. Linscomb & Williams Inc. now owns 6,417 shares of the company’s stock valued at $217,000 after buying an additional 206 shares during the last quarter. M&T Bank Corp increased its position in shares of Shell Midstream Partners by 5.8% in the second quarter. M&T Bank Corp now owns 6,612 shares of the company’s stock valued at $223,000 after buying an additional 360 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Shell Midstream Partners by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 6,712 shares of the company’s stock valued at $227,000 after buying an additional 180 shares during the last quarter. Finally, Boys Arnold & Co. Inc. bought a new position in shares of Shell Midstream Partners during the second quarter valued at $250,000. Hedge funds and other institutional investors own 81.39% of the company’s stock.
Shares of Shell Midstream Partners LP (NYSE:SHLX) traded down 0.22% on Friday, reaching $27.39. The company’s stock had a trading volume of 90,588 shares. Shell Midstream Partners LP has a 12-month low of $25.42 and a 12-month high of $42.29. The stock has a market cap of $4.86 billion, a PE ratio of 20.52 and a beta of 1.21. The firm has a 50 day moving average price of $27.59 and a 200-day moving average price of $31.09.
Shell Midstream Partners (NYSE:SHLX) last announced its earnings results on Thursday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.09. Shell Midstream Partners had a net margin of 77.39% and a return on equity of 56.13%. The business had revenue of $67.90 million for the quarter, compared to analyst estimates of $78.62 million. During the same period in the prior year, the company earned $0.37 earnings per share. The company’s quarterly revenue was down 4.5% on a year-over-year basis. Equities research analysts expect that Shell Midstream Partners LP will post $1.35 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were issued a $0.264 dividend. The ex-dividend date of this dividend was Thursday, October 27th. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.86%. Shell Midstream Partners’s dividend payout ratio is currently 78.95%.
Several equities analysts have recently weighed in on SHLX shares. UBS AG restated a “buy” rating and set a $47.00 price target (down from $49.00) on shares of Shell Midstream Partners in a report on Tuesday, November 8th. Mizuho started coverage on Shell Midstream Partners in a report on Thursday, September 29th. They issued a “buy” rating and a $37.00 price objective for the company. Stifel Nicolaus started coverage on Shell Midstream Partners in a report on Thursday, August 18th. They issued a “buy” rating and a $35.00 price objective for the company. Barclays PLC reiterated an “equal weight” rating and issued a $29.00 price objective (down from $39.00) on shares of Shell Midstream Partners in a report on Wednesday, November 9th. Finally, Zacks Investment Research upgraded Shell Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Shell Midstream Partners has an average rating of “Buy” and an average price target of $39.44.
In related news, Director Margaret C. Montana bought 4,000 shares of the stock in a transaction dated Friday, November 11th. The shares were purchased at an average price of $25.95 per share, for a total transaction of $103,800.00. Following the completion of the purchase, the director now directly owns 13,030 shares of the company’s stock, valued at $338,128.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
About Shell Midstream Partners
Shell Midstream Partners, L.P. is a master limited partnership company formed to own, operate, develop and acquire pipelines and other midstream assets. The Company has interests in approximately four crude oil pipeline systems, approximately two refined products systems and a crude tank storage and terminal system.