Bank of Montreal Can Takes Position in Shell Midstream Partners LP (SHLX)
Bank of Montreal Can acquired a new position in Shell Midstream Partners LP (NYSE:SHLX) during the second quarter, according to its most recent filing with the SEC. The firm acquired 428,538 shares of the company’s stock, valued at approximately $14,480,000. Bank of Montreal Can owned about 0.26% of Shell Midstream Partners as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in SHLX. M&T Bank Corp increased its position in Shell Midstream Partners by 16.0% in the first quarter. M&T Bank Corp now owns 6,252 shares of the company’s stock worth $229,000 after buying an additional 861 shares in the last quarter. Boys Arnold & Co. Inc. acquired a new position in Shell Midstream Partners during the second quarter worth approximately $250,000. Bollard Group LLC increased its position in Shell Midstream Partners by 0.7% in the second quarter. Bollard Group LLC now owns 8,238 shares of the company’s stock worth $278,000 after buying an additional 55 shares in the last quarter. Invictus RG acquired a new position in Shell Midstream Partners during the first quarter worth approximately $290,000. Finally, Hollencrest Securities LLC acquired a new position in Shell Midstream Partners during the second quarter worth approximately $355,000. 80.42% of the stock is owned by hedge funds and other institutional investors.
Shares of Shell Midstream Partners LP (NYSE:SHLX) traded up 2.33% during midday trading on Friday, hitting $32.08. 619,452 shares of the company were exchanged. The company’s 50 day moving average price is $30.70 and its 200 day moving average price is $33.17. The firm has a market cap of $5.69 billion, a P/E ratio of 22.34 and a beta of 1.11. Shell Midstream Partners LP has a one year low of $29.47 and a one year high of $42.29.
Shell Midstream Partners (NYSE:SHLX) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.04. Shell Midstream Partners had a return on equity of 70.93% and a net margin of 82.18%. The business had revenue of $71.10 million for the quarter, compared to analyst estimates of $78.15 million. During the same quarter last year, the firm earned $0.22 earnings per share. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. Equities analysts expect that Shell Midstream Partners LP will post $1.45 EPS for the current year.
A number of equities analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Shell Midstream Partners in a report on Thursday, June 16th. They issued an “equal weight” rating and a $39.00 price objective for the company. Zacks Investment Research raised shares of Shell Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Stifel Nicolaus began coverage on Shell Midstream Partners in a research note on Thursday, August 18th. They issued a “buy” rating and a $35.00 target price on the stock. Mizuho began coverage on Shell Midstream Partners in a research note on Thursday. They issued a “buy” rating and a $37.00 target price on the stock. Finally, Barclays PLC cut their target price on Shell Midstream Partners from $51.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Shell Midstream Partners currently has an average rating of “Buy” and an average target price of $40.43.
Shell Midstream Partners Company Profile
Shell Midstream Partners, L.P. is a master limited partnership company formed to own, operate, develop and acquire pipelines and other midstream assets. The Company has interests in approximately four crude oil pipeline systems, approximately two refined products systems and a crude tank storage and terminal system.
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