Global X Management Co LLC increased its position in shares of Shell Midstream Partners LP (NYSE:SHLX) by 12.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,720,275 shares of the pipeline company’s stock after buying an additional 190,164 shares during the period. Global X Management Co LLC owned about 0.77% of Shell Midstream Partners worth $38,156,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Conning Inc. grew its stake in Shell Midstream Partners by 129.9% in the second quarter. Conning Inc. now owns 84,209 shares of the pipeline company’s stock valued at $1,868,000 after purchasing an additional 47,582 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Shell Midstream Partners by 12.8% in the first quarter. PNC Financial Services Group Inc. now owns 125,637 shares of the pipeline company’s stock valued at $2,646,000 after purchasing an additional 14,301 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its stake in Shell Midstream Partners by 58.4% in the first quarter. Kayne Anderson Capital Advisors LP now owns 7,432,590 shares of the pipeline company’s stock valued at $156,438,000 after purchasing an additional 2,741,750 shares during the last quarter. Cadence Capital Management LLC grew its stake in Shell Midstream Partners by 38.6% in the second quarter. Cadence Capital Management LLC now owns 334,962 shares of the pipeline company’s stock valued at $7,429,000 after purchasing an additional 93,272 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its stake in Shell Midstream Partners by 62.4% in the first quarter. Summit Trail Advisors LLC now owns 50,061 shares of the pipeline company’s stock valued at $921,000 after purchasing an additional 19,231 shares during the last quarter. Hedge funds and other institutional investors own 54.82% of the company’s stock.

Shares of NYSE SHLX opened at $21.75 on Tuesday. The company has a debt-to-equity ratio of -6.59, a current ratio of 3.66 and a quick ratio of 3.66. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 6.08 and a beta of 1.23. Shell Midstream Partners LP has a fifty-two week low of $19.42 and a fifty-two week high of $31.19.

Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $129.30 million during the quarter, compared to the consensus estimate of $120.71 million. Shell Midstream Partners had a negative return on equity of 295.18% and a net margin of 74.14%. The company’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. equities analysts anticipate that Shell Midstream Partners LP will post 1.18 earnings per share for the current year.

Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, August 29th. Wells Fargo & Co cut their target price on Shell Midstream Partners from $24.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, September 13th. ValuEngine upgraded Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 17th. Bank of America assumed coverage on Shell Midstream Partners in a research note on Tuesday, July 10th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on Shell Midstream Partners from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, August 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $27.38.

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 completion of the acquisition, the director now owns 5,000 shares in the company, valued at $109,700. The acquisition was disclosed in a filing with the SEC, which is available at this link.

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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