LVW Advisors LLC cut its position in Shell Midstream Partners LP (NYSE:SHLX) by 48.4% during the third quarter, HoldingsChannel.com reports. The firm owned 16,550 shares of the pipeline company’s stock after selling 15,501 shares during the period. LVW Advisors LLC’s holdings in Shell Midstream Partners were worth $354,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the company. MHI Funds LLC acquired a new stake in Shell Midstream Partners during the third quarter worth about $240,000. First National Trust Co acquired a new stake in Shell Midstream Partners during the third quarter worth about $270,000. Baldwin Brothers Inc. MA acquired a new stake in Shell Midstream Partners during the second quarter worth about $291,000. Tortoise Index Solutions LLC grew its holdings in Shell Midstream Partners by 16.3% during the second quarter. Tortoise Index Solutions LLC now owns 20,346 shares of the pipeline company’s stock worth $451,000 after acquiring an additional 2,845 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Shell Midstream Partners during the third quarter worth about $520,000. 53.55% of the stock is currently owned by institutional investors and hedge funds.
SHLX has been the topic of several analyst reports. Stifel Nicolaus dropped their target price on Shell Midstream Partners from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, August 3rd. Zacks Investment Research raised Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Thursday, July 19th. Barclays dropped their price objective on Shell Midstream Partners from $29.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 11th. Credit Suisse Group began coverage on Shell Midstream Partners in a report on Thursday, October 11th. They issued a “neutral” rating and a $24.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $26.27.
Shares of SHLX opened at $18.80 on Wednesday. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 2.18. Shell Midstream Partners LP has a 12 month low of $18.60 and a 12 month high of $31.19. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 4.47 and a beta of 1.13.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings data on Thursday, November 1st. The pipeline company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.42 by $0.08. Shell Midstream Partners had a negative return on equity of 257.81% and a net margin of 80.40%. The company had revenue of $153.50 million for the quarter, compared to analyst estimates of $137.00 million. During the same period last year, the company earned $0.31 earnings per share. Research analysts anticipate that Shell Midstream Partners LP will post 1.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th will be given a $0.382 dividend. This represents a $1.53 annualized dividend and a dividend yield of 8.13%. The ex-dividend date is Friday, November 2nd. This is an increase from Shell Midstream Partners’s previous quarterly dividend of $0.37. Shell Midstream Partners’s dividend payout ratio (DPR) is 119.53%.
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About Shell Midstream Partners
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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