Samson Capital Management LLC cut its stake in shares of Shell Midstream Partners LP (NYSE:SHLX) by 11.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,359 shares of the pipeline company’s stock after selling 18,972 shares during the period. Shell Midstream Partners comprises 4.3% of Samson Capital Management LLC’s portfolio, making the stock its 12th largest position. Samson Capital Management LLC’s holdings in Shell Midstream Partners were worth $4,588,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of SHLX. Envestnet Asset Management Inc. increased its stake in Shell Midstream Partners by 1.4% in 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. Good Life Advisors LLC acquired a new position in shares of Shell Midstream Partners during the fourth quarter worth about $211,000. BNP Paribas Arbitrage SA acquired a new position in shares of Shell Midstream Partners during the first quarter worth about $239,000. Linscomb & Williams Inc. boosted its position in shares of Shell Midstream Partners by 30.3% in the fourth quarter. Linscomb & Williams Inc. now owns 9,084 shares of the pipeline company’s stock worth $264,000 after buying an additional 2,110 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Shell Midstream Partners 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. 81.00% of the stock is owned by hedge funds and other institutional investors.
Shares of Shell Midstream Partners LP (NYSE:SHLX) traded up 1.97% on Friday, hitting $31.50. 373,709 shares of the stock were exchanged. The company has a 50-day moving average price of $32.20 and a 200 day moving average price of $30.49. Shell Midstream Partners LP has a 12 month low of $25.42 and a 12 month high of $35.17. The company has a market cap of $5.59 billion, a PE ratio of 24.44 and a beta of 1.25.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings results on Friday, May 5th. The pipeline company reported $0.33 earnings per share (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 the consensus estimate of $77.82 million. Shell Midstream Partners had a return on equity of 56.13% and a net margin of 77.39%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. Equities analysts forecast that Shell Midstream Partners LP will post $1.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 12th. Investors of record on Monday, May 1st were paid a $0.291 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.77%. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, April 27th. Shell Midstream Partners’s dividend payout ratio (DPR) is presently 83.46%.
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A number of brokerages have recently issued reports on SHLX. Zacks Investment Research cut shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday, April 27th. Mizuho reiterated a “buy” rating and set a $36.00 price objective on shares of Shell Midstream Partners in a report on Tuesday, February 28th. Finally, JPMorgan Chase & Co. began coverage on shares of Shell Midstream Partners in a report on Wednesday, February 1st. They set an “overweight” rating and a $38.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $37.86.
About Shell Midstream Partners
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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