JPMorgan Chase & Co. lifted its stake in Shell Midstream Partners, L.P. (NYSE:SHLX) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,490,591 shares of the pipeline company’s stock after buying an additional 44,372 shares during the period. JPMorgan Chase & Co. owned about 0.84% of Shell Midstream Partners, L.P. worth $45,165,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in shares of Shell Midstream Partners, L.P. by 1.4% in the 1st 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. Johnson Financial Group LLC acquired a new position in shares of Shell Midstream Partners, L.P. in the 2nd quarter worth approximately $218,000. BNP Paribas Arbitrage SA acquired a new position in shares of Shell Midstream Partners, L.P. in the 1st quarter worth approximately $239,000. Proficio Capital Partners LLC raised its holdings in shares of Shell Midstream Partners, L.P. by 37.6% in the 1st quarter. Proficio Capital Partners LLC now owns 8,516 shares of the pipeline company’s stock worth $266,000 after buying an additional 2,326 shares in the last quarter. Finally, RiverPoint Capital Management LLC acquired a new position in shares of Shell Midstream Partners, L.P. in the 2nd quarter worth approximately $291,000. 46.02% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on SHLX shares. BidaskClub cut Shell Midstream Partners, L.P. from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $36.00 target price on shares of Shell Midstream Partners, L.P. in a report on Friday, July 14th. Zacks Investment Research cut Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $41.00 target price on shares of Shell Midstream Partners, L.P. in a report on Monday, August 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Shell Midstream Partners, L.P. has an average rating of “Buy” and an average target price of $37.83.

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Shares of Shell Midstream Partners, L.P. (NYSE:SHLX) opened at 28.10 on Thursday. The company’s 50-day moving average price is $27.31 and its 200-day moving average price is $30.13. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 22.79 and a beta of 1.17. Shell Midstream Partners, L.P. has a 52-week low of $25.42 and a 52-week high of $34.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last announced its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). Shell Midstream Partners, L.P. had a net margin of 87.22% and a return on equity of 258.67%. The firm had revenue of $86.80 million for the quarter, compared to analyst estimates of $69.55 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts forecast that Shell Midstream Partners, L.P. will post $1.37 EPS for the current fiscal year.

Shell Midstream Partners, L.P. 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, L.P. (NYSE:SHLX)

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