Parkside Financial Bank & Trust cut its stake in shares of Shell Midstream Partners LP (NYSE:SHLX) by 10.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 28,589 shares of the pipeline company’s stock after selling 3,301 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Shell Midstream Partners were worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Penserra Capital Management LLC grew its holdings in shares of Shell Midstream Partners by 9.0% during the first quarter. Penserra Capital Management LLC now owns 11,090 shares of the pipeline company’s stock valued at $226,000 after buying an additional 920 shares during the last quarter. Icon Wealth Partners LLC boosted its holdings in Shell Midstream Partners by 10.0% in the first quarter. Icon Wealth Partners LLC now owns 10,904 shares of the pipeline company’s stock valued at $223,000 after purchasing an additional 987 shares during the last quarter. Advisor Group Inc. boosted its holdings in Shell Midstream Partners by 213.2% in the second quarter. Advisor Group Inc. now owns 1,638 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 1,115 shares during the last quarter. Macroview Investment Management LLC purchased a new stake in Shell Midstream Partners in the first quarter valued at $28,000. Finally, SG Americas Securities LLC boosted its holdings in Shell Midstream Partners by 3.5% in the first quarter. SG Americas Securities LLC now owns 48,950 shares of the pipeline company’s stock valued at $1,001,000 after purchasing an additional 1,661 shares during the last quarter. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:SHLX traded down $0.21 during mid-day trading on Thursday, hitting $20.85. The company’s stock had a trading volume of 116,265 shares, compared to its average volume of 724,194. Shell Midstream Partners LP has a 1 year low of $15.86 and a 1 year high of $23.72. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 15.65 and a beta of 1.03. The business’s fifty day moving average is $21.13 and its two-hundred day moving average is $20.28.

Shell Midstream Partners (NYSE:SHLX) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). Shell Midstream Partners had a net margin of 97.92% and a negative return on equity of 137.43%. The business had revenue of $121.00 million during the quarter, compared to analysts’ expectations of $119.43 million. During the same period in the previous year, the company posted $0.35 earnings per share. Shell Midstream Partners’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities research analysts predict that Shell Midstream Partners LP will post 1.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Monday, August 5th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 8.25%. The ex-dividend date of this dividend was Friday, August 2nd.

SHLX has been the topic of several recent research reports. JPMorgan Chase & Co. lowered shares of Shell Midstream Partners from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $23.00 to $22.00 in a report on Tuesday. Mizuho lowered shares of Shell Midstream Partners from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $22.00 to $19.00 in a report on Wednesday, July 17th. Credit Suisse Group lowered shares of Shell Midstream Partners from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $22.00 to $17.00 in a report on Tuesday, June 11th. Finally, Zacks Investment Research lowered shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $23.38.

About Shell Midstream Partners

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.

Further Reading: Return on Equity (ROE)

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

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