Shell Midstream Partners LP (SHLX) Shares Sold by Cypress Wealth Advisors LLC

Cypress Wealth Advisors LLC cut its holdings in shares of Shell Midstream Partners LP (NYSE:SHLX) by 38.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 57,500 shares of the pipeline company’s stock after selling 35,350 shares during the quarter. Shell Midstream Partners comprises 1.3% of Cypress Wealth Advisors LLC’s portfolio, making the stock its 29th largest holding. Cypress Wealth Advisors LLC’s holdings in Shell Midstream Partners were worth $1,229,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Port Capital LLC lifted its holdings in shares of Shell Midstream Partners by 222.6% during the third quarter. Port Capital LLC now owns 378,875 shares of the pipeline company’s stock valued at $8,100,000 after purchasing an additional 261,435 shares in the last quarter. Evercore Wealth Management LLC bought a new position in shares of Shell Midstream Partners during the third quarter valued at $321,000. First Republic Investment Management Inc. lifted its holdings in shares of Shell Midstream Partners by 9.9% during the third quarter. First Republic Investment Management Inc. now owns 153,788 shares of the pipeline company’s stock valued at $3,288,000 after purchasing an additional 13,808 shares in the last quarter. BP Capital Fund Advisors LLC lifted its holdings in shares of Shell Midstream Partners by 7.2% during the third quarter. BP Capital Fund Advisors LLC now owns 277,251 shares of the pipeline company’s stock valued at $5,816,000 after purchasing an additional 18,659 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Shell Midstream Partners during the third quarter valued at $39,268,000. 54.22% of the stock is currently owned by hedge funds and other institutional investors.

SHLX stock opened at $19.37 on Thursday. Shell Midstream Partners LP has a fifty-two week low of $18.32 and a fifty-two week high of $31.19. The company has a debt-to-equity ratio of 2.18, a quick ratio of 4.64 and a current ratio of 4.64. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 4.25 and a beta of 1.11.

Shell Midstream Partners (NYSE:SHLX) last posted its earnings results on Thursday, November 1st. The pipeline company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $153.50 million for the quarter, compared to the consensus estimate of $137.00 million. Shell Midstream Partners had a negative return on equity of 215.59% and a net margin of 80.40%. During the same quarter in the prior year, the company earned $0.31 earnings per share. On average, equities analysts predict that Shell Midstream Partners LP will post 1.52 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th were given a $0.382 dividend. This is a boost from Shell Midstream Partners’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $1.53 dividend on an annualized basis and a yield of 7.89%. Shell Midstream Partners’s dividend payout ratio is presently 119.53%.

A number of research analysts have weighed in on SHLX shares. ValuEngine raised Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Friday, August 17th. JPMorgan Chase & Co. lowered their target price on Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, August 24th. Zacks Investment Research raised Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, August 29th. Wells Fargo & Co lowered their target price on Shell Midstream Partners from $24.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, September 13th. Finally, Credit Suisse Group started coverage on Shell Midstream Partners in a report on Thursday, October 11th. They issued a “neutral” rating and a $24.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $26.04.

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About Shell Midstream Partners

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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Want to see what other hedge funds are holding SHLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shell Midstream Partners LP (NYSE:SHLX).

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

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