Holistic Financial Partners Acquires New Holdings in Shell Midstream Partners LP (SHLX)
Holistic Financial Partners acquired a new position in Shell Midstream Partners LP (NYSE:SHLX) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,149 shares of the pipeline company’s stock, valued at approximately $208,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SHLX. Raymond James Financial Services Advisors Inc. raised its stake in Shell Midstream Partners by 10.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 67,543 shares of the pipeline company’s stock valued at $1,381,000 after purchasing an additional 6,506 shares during the period. Stephens Inc. AR raised its stake in Shell Midstream Partners by 35.5% during the 1st quarter. Stephens Inc. AR now owns 16,233 shares of the pipeline company’s stock valued at $332,000 after purchasing an additional 4,255 shares during the period. California Public Employees Retirement System raised its stake in Shell Midstream Partners by 26.6% during the 1st quarter. California Public Employees Retirement System now owns 269,960 shares of the pipeline company’s stock valued at $5,521,000 after purchasing an additional 56,764 shares during the period. Kayne Anderson Capital Advisors LP raised its stake in Shell Midstream Partners by 6.6% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 9,708,255 shares of the pipeline company’s stock valued at $198,522,000 after purchasing an additional 597,152 shares during the period. Finally, Osborn Williams & Donohoe LLC bought a new stake in Shell Midstream Partners during the 1st quarter valued at approximately $237,000. Institutional investors and hedge funds own 52.48% of the company’s stock.
In other news, insider Shawn J. Carsten bought 5,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $18.16 per share, with a total value of $90,800.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shell Midstream Partners (NYSE:SHLX) last issued its earnings results on Thursday, May 2nd. The pipeline company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. The business had revenue of $131.00 million during the quarter, compared to analyst estimates of $127.60 million. Shell Midstream Partners had a negative return on equity of 190.89% and a net margin of 95.68%. During the same period in the previous year, the company posted $0.18 EPS. Sell-side analysts anticipate that Shell Midstream Partners LP will post 1.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were given a dividend of $0.415 per share. The ex-dividend date was Friday, May 3rd. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.40. This represents a $1.66 dividend on an annualized basis and a yield of 7.82%.
Several analysts recently issued reports on the company. Zacks Investment Research raised Shell Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Friday, February 22nd. ValuEngine upgraded Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 20th. UBS Group dropped their target price on Shell Midstream Partners from $37.00 to $36.00 and set a “buy” rating for the company in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. cut Shell Midstream Partners from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $23.00 in a report on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Shell Midstream Partners has a consensus rating of “Hold” and an average target price of $24.90.
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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.
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