Virtus ETF Advisers LLC Takes Position in Shell Midstream Partners LP (NYSE:SHLX)

Virtus ETF Advisers LLC acquired a new stake in shares of Shell Midstream Partners LP (NYSE:SHLX) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 130,354 shares of the pipeline company’s stock, valued at approximately $2,701,000.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in Shell Midstream Partners by 3.5% in the first quarter. SG Americas Securities LLC now owns 48,950 shares of the pipeline company’s stock worth $1,001,000 after purchasing an additional 1,661 shares during the last quarter. California Public Employees Retirement System increased its position in Shell Midstream Partners by 26.6% in the first quarter. California Public Employees Retirement System now owns 269,960 shares of the pipeline company’s stock worth $5,521,000 after purchasing an additional 56,764 shares during the last quarter. Stephens Inc. AR increased its position in Shell Midstream Partners by 35.5% in the first quarter. Stephens Inc. AR now owns 16,233 shares of the pipeline company’s stock worth $332,000 after purchasing an additional 4,255 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Shell Midstream Partners by 10.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 67,543 shares of the pipeline company’s stock worth $1,381,000 after purchasing an additional 6,506 shares during the last quarter. Finally, Holistic Financial Partners bought a new stake in Shell Midstream Partners in the first quarter worth $208,000. Hedge funds and other institutional investors own 53.81% of the company’s stock.

Several equities research analysts recently weighed in on the stock. Mizuho cut shares of Shell Midstream Partners from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, July 17th. JPMorgan Chase & Co. cut shares of Shell Midstream Partners from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $23.00 to $22.00 in a research report on Tuesday, August 20th. Zacks Investment Research upgraded shares of Shell Midstream Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 23rd. UBS Group cut their price objective on shares of Shell Midstream Partners from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Credit Suisse Group cut shares of Shell Midstream Partners from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $22.00 to $17.00 in a research report on Tuesday, June 11th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $21.63.



Shares of SHLX traded down $0.25 during trading hours on Thursday, reaching $19.52. 571,877 shares of the company traded hands, compared to its average volume of 714,020. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 13.95 and a beta of 1.05. Shell Midstream Partners LP has a 12-month low of $15.86 and a 12-month high of $22.40. The stock’s fifty day moving average price is $20.27 and its 200 day moving average price is $20.29.

Shell Midstream Partners (NYSE:SHLX) last issued its earnings results on Thursday, August 1st. The pipeline company reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share. On average, equities analysts expect that Shell Midstream Partners LP will post 1.41 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Monday, August 5th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 8.81%. The ex-dividend date was Friday, August 2nd.

Shell Midstream Partners 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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Institutional Ownership by Quarter for Shell Midstream Partners (NYSE:SHLX)

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