Parkside Financial Bank & Trust cut its stake in shares of Shell Midstream Partners LP (NYSE:SHLX) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,832 shares of the pipeline company’s stock after selling 1,757 shares during the period. Parkside Financial Bank & Trust’s holdings in Shell Midstream Partners were worth $549,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Advisor Group Inc. increased 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 period. Capital Investment Advisory Services LLC acquired a new stake in Shell Midstream Partners in the second quarter valued at $43,000. Tower Research Capital LLC TRC acquired a new stake in Shell Midstream Partners in the second quarter valued at $43,000. Lee Financial Co acquired a new stake in Shell Midstream Partners in the second quarter valued at $54,000. Finally, Berman Capital Advisors LLC increased its holdings in Shell Midstream Partners by 2,311.9% in the second quarter. Berman Capital Advisors LLC now owns 8,900 shares of the pipeline company’s stock valued at $182,000 after purchasing an additional 8,531 shares during the period. Institutional investors own 50.98% of the company’s stock.

NYSE SHLX traded down $0.07 during trading hours on Friday, hitting $20.37. The company’s stock had a trading volume of 623,954 shares, compared to its average volume of 735,900. Shell Midstream Partners LP has a 52 week low of $15.86 and a 52 week high of $21.99. The company has a market capitalization of $4.77 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 12.11 and a beta of 1.06. The company’s 50-day simple moving average is $20.61 and its two-hundred day simple moving average is $20.60.

Shell Midstream Partners (NYSE:SHLX) last announced its quarterly earnings results on Thursday, October 31st. The pipeline company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The business had revenue of $125.00 million for the quarter, compared to analysts’ expectations of $116.18 million. Shell Midstream Partners had a net margin of 101.89% and a negative return on equity of 104.00%. The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 EPS. On average, research analysts anticipate that Shell Midstream Partners LP will post 1.69 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a $0.445 dividend. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.78 annualized dividend and a yield of 8.74%.

A number of analysts have commented on SHLX shares. UBS Group cut their price target on shares of Shell Midstream Partners from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. ValuEngine cut shares of Shell Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Monday, November 4th. Barclays set a $21.00 price objective on shares of Shell Midstream Partners and gave the stock a “hold” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut shares of Shell Midstream Partners from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $23.00 to $22.00 in a research report on Tuesday, August 20th. Finally, Zacks Investment Research cut shares of Shell Midstream Partners from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $21.29.

Shell Midstream Partners Profile

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.

See Also: Yield Curve

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

Receive News & Ratings for Shell Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shell Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.