Fifth Third Bancorp Has $402,000 Stake in Shell Midstream Partners, L.P. (SHLX)

Fifth Third Bancorp held its position in Shell Midstream Partners, L.P. (NYSE:SHLX) during the first quarter, Holdings Channel reports. The firm owned 12,470 shares of the pipeline company’s stock at the end of the first quarter. Fifth Third Bancorp’s holdings in Shell Midstream Partners, L.P. were worth $402,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in Shell Midstream Partners, L.P. by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock worth $149,000 after buying an additional 63 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new position in Shell Midstream Partners, L.P. during the first quarter worth $239,000. Bank of New York Mellon Corp boosted its position in Shell Midstream Partners, L.P. by 39.5% in the first quarter. Bank of New York Mellon Corp now owns 10,117 shares of the pipeline company’s stock worth $326,000 after buying an additional 2,864 shares in the last quarter. Country Club Trust Company n.a. boosted its position in Shell Midstream Partners, L.P. by 1.3% in the first quarter. Country Club Trust Company n.a. now owns 10,606 shares of the pipeline company’s stock worth $342,000 after buying an additional 141 shares in the last quarter. Finally, Keybank National Association OH boosted its position in Shell Midstream Partners, L.P. by 5.7% in the fourth quarter. Keybank National Association OH now owns 11,830 shares of the pipeline company’s stock worth $344,000 after buying an additional 635 shares in the last quarter. Institutional investors and hedge funds own 49.86% of the company’s stock.

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

Shell Midstream Partners, L.P. (SHLX) traded down 0.07% during trading on Wednesday, hitting $27.94. The stock had a trading volume of 44,255 shares. The stock’s 50-day moving average is $30.62 and its 200 day moving average is $31.03. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 21.68 and a beta of 1.20. Shell Midstream Partners, L.P. has a one year low of $25.42 and a one year high of $34.25.

Shell Midstream Partners, L.P. (NYSE:SHLX) last released its earnings results on Friday, May 5th. The pipeline company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The business had revenue of $70.20 million during the quarter, compared to analyst estimates of $77.82 million. Shell Midstream Partners, L.P. had a net margin of 91.43% and a return on equity of 99.20%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities analysts anticipate that Shell Midstream Partners, L.P. will post $1.47 earnings per share for the current year.

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SHLX has been the subject of a number of research analyst reports. Mizuho reiterated a “buy” rating and set a $36.00 price target on shares of Shell Midstream Partners, L.P. in a report on Tuesday, February 28th. Zacks Investment Research upgraded Shell Midstream Partners, L.P. from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $37.67.

Shell Midstream Partners, L.P. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SHLX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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