Keybank National Association OH Has $435,000 Stake in Shell Midstream Partners, L.P. (SHLX)

Keybank National Association OH grew its stake in shares of Shell Midstream Partners, L.P. (NYSE:SHLX) by 7.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,365 shares of the pipeline company’s stock after buying an additional 940 shares during the period. Keybank National Association OH’s holdings in Shell Midstream Partners, L.P. were worth $435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in shares of Shell Midstream Partners, L.P. by 1.4% during the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock valued at $149,000 after buying an additional 63 shares during the period. Paragon Capital Management Ltd increased its position in shares of Shell Midstream Partners, L.P. by 0.9% during the second quarter. Paragon Capital Management Ltd now owns 11,800 shares of the pipeline company’s stock valued at $358,000 after buying an additional 105 shares during the period. Global Endowment Management LP increased its position in shares of Shell Midstream Partners, L.P. by 1.0% during the first quarter. Global Endowment Management LP now owns 19,620 shares of the pipeline company’s stock valued at $633,000 after buying an additional 200 shares during the period. Diversified Trust Co increased its position in shares of Shell Midstream Partners, L.P. by 1.6% during the second quarter. Diversified Trust Co now owns 28,777 shares of the pipeline company’s stock valued at $872,000 after buying an additional 450 shares during the period. Finally, Signature Financial Management Inc. increased its position in shares of Shell Midstream Partners, L.P. by 5.0% during the second quarter. Signature Financial Management Inc. now owns 13,650 shares of the pipeline company’s stock valued at $414,000 after buying an additional 650 shares during the period. Hedge funds and other institutional investors own 46.02% of the company’s stock.

Shares of Shell Midstream Partners, L.P. (NYSE SHLX) opened at 27.88 on Wednesday. Shell Midstream Partners, L.P. has a 12 month low of $25.42 and a 12 month high of $34.17. The company has a market capitalization of $4.95 billion, a PE ratio of 22.61 and a beta of 1.17. The stock’s 50 day moving average price is $27.34 and its 200 day moving average price is $30.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.02). Shell Midstream Partners, L.P. had a net margin of 87.22% and a return on equity of 258.67%. The company had revenue of $86.80 million for the quarter, compared to analysts’ expectations of $69.55 million. During the same period in the previous year, the firm earned $0.35 earnings per share. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. On average, analysts forecast that Shell Midstream Partners, L.P. will post $1.37 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were issued a $0.3041 dividend. The ex-dividend date was Thursday, July 27th. This represents a $1.22 dividend on an annualized basis and a yield of 4.36%. Shell Midstream Partners, L.P.’s dividend payout ratio is presently 98.39%.

Several equities research analysts have recently weighed in on SHLX shares. Stifel Nicolaus reiterated a “buy” rating and set a $36.00 price target on shares of Shell Midstream Partners, L.P. in a research report on Friday, July 14th. BidaskClub cut Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $41.00 price target on shares of Shell Midstream Partners, L.P. in a research report on Monday, August 21st. Finally, Zacks Investment Research cut Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Shell Midstream Partners, L.P. presently has a consensus rating of “Buy” and a consensus price target of $37.83.

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About Shell Midstream Partners, L.P.

Shell Midstream Partners, L.P. is a master limited partnership company, which owns, operates, develops and acquires pipelines and other midstream assets. The Company conducts its operations through its subsidiary, Shell Midstream Operating, LLC. Its assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and to deliver refined products from those markets to demand centers.

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Institutional Ownership by Quarter for Shell Midstream Partners, L.P. (NYSE:SHLX)

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