Shell Midstream Partners LP (SHLX) Stake Increased by Alps Advisors Inc.

Alps Advisors Inc. lifted its position in Shell Midstream Partners LP (NYSE:SHLX) by 14.4% in the 4th quarter, HoldingsChannel reports. The fund owned 8,254,680 shares of the pipeline company’s stock after acquiring an additional 1,036,262 shares during the quarter. Shell Midstream Partners comprises approximately 1.7% of Alps Advisors Inc.’s portfolio, making the stock its 14th largest holding. Alps Advisors Inc.’s holdings in Shell Midstream Partners were worth $246,155,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Saratoga Research & Investment Management bought a new stake in shares of Shell Midstream Partners in the 3rd quarter worth $146,000. Cedar Wealth Management LLC grew its stake in shares of Shell Midstream Partners by 129.4% in the 3rd quarter. Cedar Wealth Management LLC now owns 5,230 shares of the pipeline company’s stock worth $146,000 after acquiring an additional 2,950 shares in the last quarter. Stuart Chaussee & Associates Inc. bought a new stake in shares of Shell Midstream Partners in the 4th quarter worth $152,000. The Manufacturers Life Insurance Company grew its stake in shares of Shell Midstream Partners by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after acquiring an additional 398 shares in the last quarter. Finally, Balentine LLC grew its stake in shares of Shell Midstream Partners by 63.7% in the 3rd quarter. Balentine LLC now owns 7,763 shares of the pipeline company’s stock worth $216,000 after acquiring an additional 3,021 shares in the last quarter. Hedge funds and other institutional investors own 53.01% of the company’s stock.

Shell Midstream Partners LP (NYSE:SHLX) opened at $26.25 on Tuesday. The firm has a market cap of $4,930.00, a PE ratio of 20.83, a P/E/G ratio of 1.30 and a beta of 1.02. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 42.36. Shell Midstream Partners LP has a 1 year low of $24.68 and a 1 year high of $34.17.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th will be given a dividend of $0.333 per share. This represents a $1.33 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Friday, February 2nd. This is a positive change from Shell Midstream Partners’s previous quarterly dividend of $0.32. Shell Midstream Partners’s dividend payout ratio (DPR) is currently 105.56%.

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Shell Midstream Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Stifel Nicolaus lowered shares of Shell Midstream Partners from a “buy” rating to a “hold” rating and increased their price target for the company from $30.00 to $31.00 in a research report on Wednesday, January 17th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Shell Midstream Partners in a research report on Friday. BidaskClub upgraded shares of Shell Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, Barclays reduced their price target on shares of Shell Midstream Partners from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.43.

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Shell Midstream Partners 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 (NYSE:SHLX)

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