Global X Management Co. LLC boosted its stake in Shell Midstream Partners LP (NYSE:SHLX) by 45.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,000,236 shares of the pipeline company’s stock after buying an additional 310,845 shares during the quarter. Shell Midstream Partners makes up about 0.7% of Global X Management Co. LLC’s holdings, making the stock its 28th biggest position. Global X Management Co. LLC’s holdings in Shell Midstream Partners were worth $29,827,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SHLX. Tiedemann Wealth Management LLC increased its stake in shares of Shell Midstream Partners by 5.8% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 249,439 shares of the pipeline company’s stock worth $6,642,000 after purchasing an additional 13,649 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Shell Midstream Partners by 5.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 107,700 shares of the pipeline company’s stock worth $2,998,000 after purchasing an additional 5,960 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in shares of Shell Midstream Partners by 109.8% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 20,435,426 shares of the pipeline company’s stock worth $568,922,000 after purchasing an additional 10,695,678 shares during the last quarter. Starfire Investment Advisers Inc. acquired a new position in shares of Shell Midstream Partners during the 4th quarter worth $1,044,000. Finally, Whalerock Point Partners LLC acquired a new position in shares of Shell Midstream Partners during the 4th quarter worth $328,000. Institutional investors own 44.69% of the company’s stock.

Shell Midstream Partners LP (NYSE SHLX) opened at $26.04 on Wednesday. Shell Midstream Partners LP has a 12 month low of $24.68 and a 12 month high of $34.17. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 42.36. The stock has a market cap of $5,821.35, a price-to-earnings ratio of 20.48, a P/E/G ratio of 1.27 and a beta of 1.02.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Monday, February 5th will be paid a $0.333 dividend. The ex-dividend date is Friday, February 2nd. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.32. This represents a $1.33 dividend on an annualized basis and a yield of 5.12%. Shell Midstream Partners’s dividend payout ratio (DPR) is presently 104.72%.

SHLX has been the topic of a number of research analyst reports. BidaskClub lowered shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Zacks Investment Research upgraded shares of Shell Midstream Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Barclays lowered their target price on shares of Shell Midstream Partners from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, November 6th. Morgan Stanley lowered their target price on shares of Shell Midstream Partners from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. Finally, UBS Group lowered their target price on shares of Shell Midstream Partners from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, November 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Shell Midstream Partners presently has an average rating of “Hold” and a consensus price target of $33.43.

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Shell Midstream Partners 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.

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

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