Pinnacle Holdings LLC Has $1.56 Million Stock Holdings in Shell Midstream Partners LP (NYSE:SHLX)

Pinnacle Holdings LLC lessened its holdings in Shell Midstream Partners LP (NYSE:SHLX) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,239 shares of the pipeline company’s stock after selling 660 shares during the period. Pinnacle Holdings LLC’s holdings in Shell Midstream Partners were worth $1,559,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SHLX. SG Americas Securities LLC boosted its position in shares of 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 buying an additional 1,661 shares during the period. California Public Employees Retirement System boosted its position in shares of 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 buying an additional 56,764 shares during the period. Stephens Inc. AR boosted its position in shares of 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 buying an additional 4,255 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of 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 buying an additional 6,506 shares during the period. Finally, Holistic Financial Partners acquired a new stake in shares of Shell Midstream Partners in the first quarter worth $208,000. 53.81% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:SHLX traded up $1.11 during midday trading on Friday, hitting $20.63. 170,066 shares of the stock were exchanged, compared to its average volume of 687,529. Shell Midstream Partners LP has a 52-week low of $15.86 and a 52-week high of $22.40. The business’s fifty day simple moving average is $20.27 and its two-hundred day simple moving average is $20.29. The company has a market capitalization of $4.80 billion, a PE ratio of 10.88, a P/E/G ratio of 13.86 and a beta of 1.05.



Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.02). Shell Midstream Partners had a negative return on equity of 137.43% and a net margin of 97.92%. The firm had revenue of $121.00 million for the quarter, compared to analysts’ expectations of $119.43 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. Shell Midstream Partners’s revenue was down 6.4% on a year-over-year basis. On average, analysts anticipate that Shell Midstream Partners LP will post 1.41 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Monday, August 5th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, August 2nd. This represents a $1.72 annualized dividend and a yield of 8.34%.

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

About Shell Midstream Partners

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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