Cypress Wealth Advisors LLC cut its holdings in Shell Midstream Partners, L.P. (NYSE:SHLX) by 80.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,375 shares of the pipeline company’s stock after selling 30,900 shares during the quarter. Cypress Wealth Advisors LLC’s holdings in Shell Midstream Partners, L.P. were worth $223,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Linscomb & Williams Inc. boosted its stake in Shell Midstream Partners, L.P. by 1.2% in the second quarter. Linscomb & Williams Inc. now owns 11,239 shares of the pipeline company’s stock valued at $341,000 after acquiring an additional 129 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Shell Midstream Partners, L.P. by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 31,971 shares of the pipeline company’s stock valued at $969,000 after acquiring an additional 166 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Shell Midstream Partners, L.P. by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock valued at $172,000 after acquiring an additional 398 shares during the last quarter. NBW Capital LLC boosted its stake in Shell Midstream Partners, L.P. by 4.6% in the second quarter. NBW Capital LLC now owns 247,999 shares of the pipeline company’s stock valued at $7,514,000 after acquiring an additional 11,005 shares during the last quarter. Finally, CNH Partners LLC boosted its stake in Shell Midstream Partners, L.P. by 2.1% in the second quarter. CNH Partners LLC now owns 9,809 shares of the pipeline company’s stock valued at $297,000 after acquiring an additional 200 shares during the last quarter. 43.76% of the stock is currently owned by hedge funds and other institutional investors.

Shell Midstream Partners, L.P. (NYSE:SHLX) last announced its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $86.80 million during the quarter, compared to analyst estimates of $69.55 million. During the same quarter last year, the company posted $0.35 earnings per share. The company’s revenue was up 22.1% compared to the same quarter last year.

A number of equities analysts have issued reports on SHLX shares. BidaskClub cut shares of Shell Midstream Partners, L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Shell Midstream Partners, L.P. in a research note on Friday, July 14th. Zacks Investment Research cut shares of Shell Midstream Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Shell Midstream Partners, L.P. in a research note on Monday, August 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Shell Midstream Partners, L.P. presently has an average rating of “Buy” and a consensus target price of $36.83.

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About Shell Midstream Partners, L.P.

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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