Pointe Capital Management LLC Cuts Position in Shell Midstream Partners LP (SHLX)

Pointe Capital Management LLC reduced its position in Shell Midstream Partners LP (NYSE:SHLX) by 21.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,018 shares of the pipeline company’s stock after selling 9,330 shares during the quarter. Pointe Capital Management LLC’s holdings in Shell Midstream Partners were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Linscomb & Williams Inc. raised its position in shares of Shell Midstream Partners by 1.2% in the 2nd quarter. Linscomb & Williams Inc. now owns 11,239 shares of the pipeline company’s stock worth $341,000 after buying an additional 129 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Shell Midstream Partners by 0.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 31,971 shares of the pipeline company’s stock worth $969,000 after buying an additional 166 shares during the period. CNH Partners LLC raised its position in shares of Shell Midstream Partners by 2.1% in the 2nd quarter. CNH Partners LLC now owns 9,809 shares of the pipeline company’s stock worth $297,000 after buying an additional 200 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Shell Midstream Partners by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after buying an additional 398 shares during the period. Finally, Veritable L.P. raised its position in shares of Shell Midstream Partners by 7.6% in the 2nd quarter. Veritable L.P. now owns 9,411 shares of the pipeline company’s stock worth $285,000 after buying an additional 665 shares during the period. 53.00% of the stock is currently owned by institutional investors and hedge funds.

Shell Midstream Partners LP (NYSE SHLX) traded up $0.38 during trading hours on Friday, reaching $30.53. The company’s stock had a trading volume of 679,706 shares, compared to its average volume of 609,589. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 42.36. Shell Midstream Partners LP has a one year low of $24.68 and a one year high of $34.17. The stock has a market capitalization of $5,730.00, a price-to-earnings ratio of 24.23, a PEG ratio of 1.36 and a beta of 1.16.

Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Shell Midstream Partners had a net margin of 85.14% and a return on equity of 3,826.80%. The company had revenue of $94.40 million during the quarter, compared to analysts’ expectations of $86.36 million. During the same period last year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was up 39.0% compared to the same quarter last year. research analysts predict that Shell Midstream Partners LP will post 1.27 EPS for the current fiscal year.

Several brokerages recently weighed in on SHLX. Stifel Nicolaus set a $30.00 target price on Shell Midstream Partners and gave the stock a “buy” rating in a research report on Thursday, November 30th. Citigroup reaffirmed a “buy” rating and issued a $32.00 target price (down from $36.50) on shares of Shell Midstream Partners in a research report on Monday, November 20th. UBS Group cut their price objective on Shell Midstream Partners from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, November 17th. Barclays cut their price objective on Shell Midstream Partners from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. Finally, Morgan Stanley cut their price objective on Shell Midstream Partners from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.50.

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Shell Midstream Partners Company Profile

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 (NYSE:SHLX)

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