Van ECK Associates Corp bought a new stake in Shell Midstream Partners LP (NYSE:SHLX) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 33,187 shares of the pipeline company’s stock, valued at approximately $545,000.
A number of other institutional investors have also recently bought and sold shares of the business. Virtus ETF Advisers LLC grew its holdings in Shell Midstream Partners by 0.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 137,490 shares of the pipeline company’s stock valued at $2,256,000 after purchasing an additional 1,014 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Shell Midstream Partners by 0.8% during the third quarter. Neuberger Berman Group LLC now owns 206,563 shares of the pipeline company’s stock valued at $4,416,000 after acquiring an additional 1,659 shares during the last quarter. Keybank National Association OH boosted its stake in shares of Shell Midstream Partners by 11.6% during the fourth quarter. Keybank National Association OH now owns 19,566 shares of the pipeline company’s stock valued at $321,000 after acquiring an additional 2,040 shares during the last quarter. Lindbrook Capital LLC acquired a new stake in shares of Shell Midstream Partners during the fourth quarter valued at $39,000. Finally, Linscomb & Williams Inc. boosted its stake in shares of Shell Midstream Partners by 76.4% during the third quarter. Linscomb & Williams Inc. now owns 18,792 shares of the pipeline company’s stock valued at $402,000 after acquiring an additional 8,139 shares during the last quarter. 54.04% of the stock is currently owned by institutional investors.
NYSE:SHLX traded down $0.10 during mid-day trading on Friday, reaching $19.01. The company’s stock had a trading volume of 6,841 shares, compared to its average volume of 844,744. Shell Midstream Partners LP has a twelve month low of $15.86 and a twelve month high of $25.19. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 3.56 and a beta of 1.29.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Shareholders of record on Monday, February 4th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 8.42%. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 1st.
In other Shell Midstream Partners news, insider Shawn J. Carsten purchased 5,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were purchased at an average cost of $18.16 per share, with a total value of $90,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
SHLX has been the topic of a number of analyst reports. Bank of America lowered Shell Midstream Partners from a “neutral” rating to an “underperform” rating in a research note on Monday, December 10th. Zacks Investment Research lowered Shell Midstream Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. ValuEngine raised Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 13th. Morgan Stanley decreased their price objective on Shell Midstream Partners from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, November 30th. Finally, UBS Group decreased their price objective on Shell Midstream Partners from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.65.
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Shell Midstream Partners Profile
Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. Its crude oil pipeline systems include a 350 miles of Zydeco pipeline system; a 130-miles of delta pipeline; a 174-mile offshore Gulf of Mexico corridor pipeline; and a 75-mile offshore pipeline.
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