United Capital Financial Advisers LLC Makes New Investment in Shell Midstream Partners LP (NYSE:SHLX)

United Capital Financial Advisers LLC bought a new position in Shell Midstream Partners LP (NYSE:SHLX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,948 shares of the pipeline company’s stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. OppenheimerFunds Inc. raised its holdings in shares of Shell Midstream Partners by 119.2% in the 1st quarter. OppenheimerFunds Inc. now owns 5,754,685 shares of the pipeline company’s stock valued at $117,683,000 after acquiring an additional 3,129,607 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Shell Midstream Partners by 14.2% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 23,729,540 shares of the pipeline company’s stock valued at $485,269,000 after buying an additional 2,956,791 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Shell Midstream Partners by 591.7% during the 1st quarter. Neuberger Berman Group LLC now owns 1,428,815 shares of the pipeline company’s stock valued at $29,219,000 after buying an additional 1,222,252 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in shares of Shell Midstream Partners by 5.8% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 10,270,755 shares of the pipeline company’s stock valued at $212,800,000 after buying an additional 562,500 shares in the last quarter. Finally, Northeast Financial Consultants Inc raised its holdings in shares of Shell Midstream Partners by 52.7% during the 1st quarter. Northeast Financial Consultants Inc now owns 780,657 shares of the pipeline company’s stock valued at $15,964,000 after buying an additional 269,500 shares in the last quarter. Institutional investors and hedge funds own 51.32% of the company’s stock.

Shell Midstream Partners stock traded down $0.14 during trading hours on Wednesday, reaching $20.24. The company had a trading volume of 27,258 shares, compared to its average volume of 1,080,365. The company has a 50-day moving average price of $20.13 and a 200 day moving average price of $20.45. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 12.90 and a beta of 1.06. Shell Midstream Partners LP has a 12-month low of $15.86 and a 12-month high of $22.40.



Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.02). The company had revenue of $121.00 million during the quarter, compared to analysts’ expectations of $119.43 million. Shell Midstream Partners had a negative return on equity of 137.43% and a net margin of 97.92%. Shell Midstream Partners’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. Analysts anticipate that Shell Midstream Partners LP will post 1.59 earnings per share for the current year.

A number of equities analysts recently weighed in on the company. Zacks Investment Research raised Shell Midstream Partners from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. Mizuho cut Shell Midstream Partners from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $22.00 to $19.00 in a report on Wednesday, July 17th. UBS Group decreased their price objective on Shell Midstream Partners from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Credit Suisse Group cut Shell Midstream Partners from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $22.00 to $17.00 in a report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. cut Shell Midstream Partners from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $23.00 to $22.00 in a research note on Tuesday, August 20th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $21.57.

Shell Midstream Partners Company 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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