OppenheimerFunds Inc. raised its position in shares of Shell Midstream Partners, L.P. (NYSE:SHLX) by 20.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,565,333 shares of the pipeline company’s stock after buying an additional 604,158 shares during the period. OppenheimerFunds Inc. owned about 2.01% of Shell Midstream Partners, L.P. worth $114,911,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SHLX. Envestnet Asset Management Inc. boosted its position in Shell Midstream Partners, L.P. by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock worth $149,000 after buying an additional 63 shares in the last quarter. Country Club Trust Company n.a. boosted its position in shares of Shell Midstream Partners, L.P. by 1.3% in the first quarter. Country Club Trust Company n.a. now owns 10,606 shares of the pipeline company’s stock valued at $342,000 after buying an additional 141 shares during the period. Cypress Wealth Advisors LLC boosted its position in shares of Shell Midstream Partners, L.P. by 1.5% in the fourth quarter. Cypress Wealth Advisors LLC now owns 39,950 shares of the pipeline company’s stock valued at $1,162,000 after buying an additional 600 shares during the period. Keybank National Association OH raised its stake in Shell Midstream Partners, L.P. by 5.7% in the fourth quarter. Keybank National Association OH now owns 11,830 shares of the pipeline company’s stock worth $344,000 after buying an additional 635 shares in the last quarter. Finally, MAI Capital Management raised its stake in Shell Midstream Partners, L.P. by 0.8% in the first quarter. MAI Capital Management now owns 117,641 shares of the pipeline company’s stock worth $3,792,000 after buying an additional 975 shares in the last quarter. 49.86% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Shell Midstream Partners, L.P. (NYSE:SHLX)

Shell Midstream Partners, L.P. (NYSE SHLX) opened at 27.52 on Thursday. Shell Midstream Partners, L.P. has a 1-year low of $25.42 and a 1-year high of $34.25. The firm’s 50 day moving average is $30.62 and its 200 day moving average is $31.03. The stock has a market capitalization of $4.88 billion, a P/E ratio of 21.35 and a beta of 1.20.

Shell Midstream Partners, L.P. (NYSE:SHLX) last released its quarterly earnings data on Friday, May 5th. The pipeline company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.02. The company had revenue of $70.20 million for the quarter, compared to analyst estimates of $77.82 million. Shell Midstream Partners, L.P. had a return on equity of 99.20% and a net margin of 91.43%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the firm posted $0.36 EPS. On average, equities research analysts anticipate that Shell Midstream Partners, L.P. will post $1.47 earnings per share for the current year.

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A number of equities research analysts have recently commented on SHLX shares. Zacks Investment Research lowered shares of Shell Midstream Partners, L.P. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 9th. Mizuho restated a “buy” rating and set a $36.00 price objective on shares of Shell Midstream Partners, L.P. in a report on Tuesday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $37.67.

Shell Midstream Partners, L.P. 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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