Shell Midstream Partners, L.P. (NYSE:SHLX) Shares Bought by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Shell Midstream Partners, L.P. (NYSE:SHLX) by 9,341.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,839,512 shares of the pipeline company’s stock after buying an additional 8,745,892 shares during the quarter. Shell Midstream Partners accounts for about 2.0% of Tortoise Capital Advisors L.L.C.’s portfolio, making the stock its 18th largest holding. Tortoise Capital Advisors L.L.C.’s holdings in Shell Midstream Partners were worth $117,919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Alps Advisors Inc. raised its position in Shell Midstream Partners by 6.0% during the 1st quarter. Alps Advisors Inc. now owns 16,555,363 shares of the pipeline company’s stock worth $220,849,000 after buying an additional 941,499 shares during the last quarter. JPMorgan Chase & Co. raised its position in Shell Midstream Partners by 1.4% during the 4th quarter. JPMorgan Chase & Co. now owns 6,617,323 shares of the pipeline company’s stock worth $66,702,000 after buying an additional 93,676 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Shell Midstream Partners by 7.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,487,293 shares of the pipeline company’s stock worth $46,520,000 after buying an additional 247,115 shares during the last quarter. UBS Group AG raised its position in Shell Midstream Partners by 3.6% during the 1st quarter. UBS Group AG now owns 1,351,403 shares of the pipeline company’s stock worth $18,027,000 after buying an additional 46,626 shares during the last quarter. Finally, Zimmer Partners LP raised its position in Shell Midstream Partners by 6.9% during the 1st quarter. Zimmer Partners LP now owns 648,491 shares of the pipeline company’s stock worth $8,651,000 after buying an additional 41,605 shares during the last quarter. 20.69% of the stock is owned by institutional investors.

NYSE SHLX traded down $0.22 on Thursday, hitting $13.56. The company had a trading volume of 103,550 shares, compared to its average volume of 1,439,921. The stock has a market capitalization of $5.33 billion, a P/E ratio of 10.32 and a beta of 1.81. The company’s fifty day moving average price is $14.97. The company has a quick ratio of 5.85, a current ratio of 5.85 and a debt-to-equity ratio of 4.59. Shell Midstream Partners, L.P. has a 12-month low of $8.17 and a 12-month high of $16.50.

Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings results on Friday, April 30th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. The company had revenue of $139.00 million during the quarter, compared to analyst estimates of $135.14 million. Shell Midstream Partners had a net margin of 113.83% and a return on equity of 90.23%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS. As a group, equities research analysts predict that Shell Midstream Partners, L.P. will post 1.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 14th. Shareholders of record on Tuesday, May 4th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, May 3rd. This represents a $1.84 annualized dividend and a yield of 13.57%. Shell Midstream Partners’s dividend payout ratio (DPR) is presently 147.20%.

SHLX has been the subject of a number of recent research reports. Mizuho raised their price target on shares of Shell Midstream Partners from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, May 3rd. Zacks Investment Research raised shares of Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of Shell Midstream Partners from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Thursday, May 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.17.

About Shell Midstream Partners

Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream, and logistics 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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