CAPROCK Group Inc. Holds Position in Shell Midstream Partners LP (SHLX)
CAPROCK Group Inc. held its stake in Shell Midstream Partners LP (NYSE:SHLX) during the first quarter, Holdings Channel reports. The firm owned 17,382 shares of the pipeline company’s stock at the end of the first quarter. CAPROCK Group Inc.’s holdings in Shell Midstream Partners were worth $560,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of SHLX. Spirit of America Management Corp NY raised its stake in Shell Midstream Partners by 61.9% in the first quarter. Spirit of America Management Corp NY now owns 621,593 shares of the pipeline company’s stock worth $20,034,000 after buying an additional 237,650 shares during the period. Country Club Trust Company n.a. raised its stake in Shell Midstream Partners by 1.3% in the first quarter. Country Club Trust Company n.a. now owns 10,606 shares of the pipeline company’s stock worth $342,000 after buying an additional 141 shares during the period. Infrastructure Capital Advisors LLC purchased a new stake in Shell Midstream Partners during the fourth quarter worth $1,630,000. Westwood Holdings Group Inc. raised its stake in Shell Midstream Partners by 11.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,876,528 shares of the pipeline company’s stock worth $54,588,000 after buying an additional 191,566 shares during the period. Finally, FFT Wealth Management LLC raised its stake in Shell Midstream Partners by 62.8% in the fourth quarter. FFT Wealth Management LLC now owns 23,504 shares of the pipeline company’s stock worth $684,000 after buying an additional 9,071 shares during the period. 81.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of Shell Midstream Partners LP (NYSE:SHLX) traded down 1.08% during midday trading on Friday, hitting $32.18. 137,480 shares of the stock were exchanged. Shell Midstream Partners LP has a 1-year low of $25.42 and a 1-year high of $38.49. The firm has a 50-day moving average of $32.12 and a 200-day moving average of $30.06. The company has a market capitalization of $5.71 billion, a P/E ratio of 24.79 and a beta of 1.25.
Shell Midstream Partners (NYSE:SHLX) last issued its earnings results on Thursday, February 23rd. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.02. The company had revenue of $75.60 million for the quarter, compared to analysts’ expectations of $73.06 million. Shell Midstream Partners had a net margin of 77.39% and a return on equity of 56.13%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. On average, equities analysts expect that Shell Midstream Partners LP will post $1.56 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Monday, May 1st will be paid a dividend of $0.291 per share. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Thursday, April 27th. Shell Midstream Partners’s payout ratio is currently 83.46%.
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A number of research firms recently weighed in on SHLX. Mizuho reaffirmed a “buy” rating and set a $36.00 target price on shares of Shell Midstream Partners in a report on Tuesday, February 28th. Zacks Investment Research lowered shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a report on Friday, February 24th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Shell Midstream Partners in a report on Wednesday, February 1st. They issued an “overweight” rating and a $38.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $37.86.
About Shell Midstream Partners
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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