Westwood Holdings Group Inc. lessened its holdings in shares of Shell Midstream Partners LP (NYSE:SHLX) by 31.9% in the first quarter, HoldingsChannel.com reports. The fund owned 316,836 shares of the pipeline company’s stock after selling 148,328 shares during the period. Westwood Holdings Group Inc.’s holdings in Shell Midstream Partners were worth $6,479,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in SHLX. Avalon Advisors LLC acquired a new stake in shares of Shell Midstream Partners in the fourth quarter valued at $958,000. Miller Howard Investments Inc. NY lifted its holdings in shares of Shell Midstream Partners by 2.9% in the first quarter. Miller Howard Investments Inc. NY now owns 1,140,627 shares of the pipeline company’s stock valued at $23,326,000 after buying an additional 31,802 shares during the period. Tortoise Index Solutions LLC lifted its holdings in shares of Shell Midstream Partners by 110.5% in the fourth quarter. Tortoise Index Solutions LLC now owns 44,895 shares of the pipeline company’s stock valued at $737,000 after buying an additional 23,569 shares during the period. Bessemer Group Inc. acquired a new stake in shares of Shell Midstream Partners in the fourth quarter valued at $35,000. Finally, Energy Income Partners LLC lifted its holdings in shares of Shell Midstream Partners by 11.9% in the fourth quarter. Energy Income Partners LLC now owns 3,389,385 shares of the pipeline company’s stock valued at $55,620,000 after buying an additional 360,919 shares during the period. Institutional investors own 53.85% of the company’s stock.
SHLX has been the subject of several analyst reports. Zacks Investment Research raised Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Friday, February 22nd. UBS Group reduced their target price on Shell Midstream Partners from $37.00 to $36.00 and set a “buy” rating for the company in a report on Monday, March 4th. JPMorgan Chase & Co. downgraded Shell Midstream Partners from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $23.00 in a report on Wednesday, March 13th. ValuEngine raised Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 20th. Finally, Mizuho initiated coverage on Shell Midstream Partners in a report on Wednesday, June 5th. They set a “neutral” rating and a $22.00 target price for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.00.
Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings results on Thursday, May 2nd. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. The firm had revenue of $131.00 million for the quarter, compared to analyst estimates of $127.60 million. Shell Midstream Partners had a negative return on equity of 190.89% and a net margin of 95.68%. During the same period in the previous year, the firm earned $0.18 earnings per share. As a group, sell-side analysts anticipate that Shell Midstream Partners LP will post 1.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were given a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a yield of 8.38%. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, May 3rd.
Shell Midstream Partners Company Profile
Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. It owns interests in crude oil and refined products pipelines and terminals to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets.
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