Tortoise Capital Advisors L.L.C. Boosts Stake in Shell Midstream Partners LP (SHLX)

Tortoise Capital Advisors L.L.C. lifted its position in Shell Midstream Partners LP (NYSE:SHLX) by 7.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,678,457 shares of the pipeline company’s stock after purchasing an additional 1,204,808 shares during the quarter. Shell Midstream Partners accounts for about 2.5% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 16th largest holding. Tortoise Capital Advisors L.L.C. owned approximately 7.90% of Shell Midstream Partners worth $392,108,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHLX. Jane Street Group LLC purchased a new position in shares of Shell Midstream Partners in the 4th quarter worth about $247,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Shell Midstream Partners in the 4th quarter worth about $274,000. Baldwin Brothers Inc. MA purchased a new position in shares of Shell Midstream Partners in the 2nd quarter worth about $291,000. Icon Wealth Partners LLC boosted its holdings in shares of Shell Midstream Partners by 22.2% in the 1st quarter. Icon Wealth Partners LLC now owns 16,923 shares of the pipeline company’s stock worth $356,000 after purchasing an additional 3,069 shares in the last quarter. Finally, Botty Investors LLC boosted its holdings in shares of Shell Midstream Partners by 525.0% in the 1st quarter. Botty Investors LLC now owns 17,801 shares of the pipeline company’s stock worth $375,000 after purchasing an additional 14,953 shares in the last quarter. Hedge funds and other institutional investors own 55.28% of the company’s stock.

In other Shell Midstream Partners news, Director Curtis R. Frasier purchased 5,000 shares of the stock in a transaction on Tuesday, June 26th. The stock was acquired at an average price of $21.94 per share, with a total value of $109,700.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $109,700. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shawn J. Carsten purchased 2,500 shares of the stock in a transaction on Thursday, May 24th. The shares were acquired at an average cost of $23.38 per share, with a total value of $58,450.00. Following the transaction, the chief financial officer now directly owns 2,500 shares in the company, valued at $58,450. The disclosure for this purchase can be found here.

A number of equities analysts have recently issued reports on the company. ValuEngine cut Shell Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Stifel Nicolaus boosted their target price on Shell Midstream Partners from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Wednesday, May 16th. Royal Bank of Canada lowered their target price on Shell Midstream Partners to $30.00 and set an “outperform” rating for the company in a research note on Monday, May 7th. Barclays set a $29.00 target price on Shell Midstream Partners and gave the company a “hold” rating in a research note on Monday, April 16th. Finally, Zacks Investment Research lowered Shell Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, July 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.23.

SHLX traded up $0.30 during midday trading on Tuesday, reaching $22.68. 2,173 shares of the company’s stock traded hands, compared to its average volume of 1,173,761. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 3.60 and a beta of 1.24. The company has a debt-to-equity ratio of -6.59, a current ratio of 3.66 and a quick ratio of 3.66. Shell Midstream Partners LP has a 52 week low of $19.42 and a 52 week high of $31.19.

Shell Midstream Partners (NYSE:SHLX) last released its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $129.30 million during the quarter, compared to analyst estimates of $120.71 million. Shell Midstream Partners had a negative return on equity of 295.18% and a net margin of 74.14%. Shell Midstream Partners’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 EPS. sell-side analysts expect that Shell Midstream Partners LP will post 1.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 14th. Shareholders of record on Monday, August 6th will be given a dividend of $0.365 per share. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, August 3rd. This represents a $1.46 dividend on an annualized basis and a yield of 6.44%. Shell Midstream Partners’s dividend payout ratio is presently 114.06%.

Shell Midstream Partners Company 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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Institutional Ownership by Quarter for Shell Midstream Partners (NYSE:SHLX)

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