Clearbridge Investments LLC Reduces Stock Holdings in Shell Midstream Partners LP (NYSE:SHLX)

Clearbridge Investments LLC decreased its position in Shell Midstream Partners LP (NYSE:SHLX) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,161,030 shares of the pipeline company’s stock after selling 90,353 shares during the quarter. Clearbridge Investments LLC owned 0.97% of Shell Midstream Partners worth $44,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SHLX. Macroview Investment Management LLC purchased a new stake in Shell Midstream Partners in the first quarter worth $28,000. Bessemer Group Inc. purchased a new stake in shares of Shell Midstream Partners in the fourth quarter worth $35,000. Lindbrook Capital LLC purchased a new stake in shares of Shell Midstream Partners in the fourth quarter worth $39,000. Monetary Management Group Inc. grew its stake in shares of Shell Midstream Partners by 750.0% in the first quarter. Monetary Management Group Inc. now owns 6,800 shares of the pipeline company’s stock worth $139,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Holistic Financial Partners bought a new position in shares of Shell Midstream Partners during the first quarter valued at $208,000. Hedge funds and other institutional investors own 53.83% of the company’s stock.

A number of brokerages have recently issued reports on SHLX. ValuEngine downgraded Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Mizuho set a $71.00 price target on CVS Health and gave the company a “buy” rating in a report on Wednesday, June 5th. Credit Suisse Group assumed coverage on Luckin Coffee in a report on Tuesday, June 11th. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Shell Midstream Partners presently has a consensus rating of “Hold” and a consensus price target of $23.89.

Shares of NYSE:SHLX traded down $0.21 during trading on Friday, hitting $21.22. 542,226 shares of the company’s stock were exchanged, compared to its average volume of 501,377. Shell Midstream Partners LP has a 52-week low of $15.86 and a 52-week high of $25.08. The firm has a 50-day moving average of $20.67. The firm has a market capitalization of $4.75 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 4.93 and a beta of 1.03.

Shell Midstream Partners (NYSE:SHLX) last released its earnings results on Thursday, May 2nd. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. The firm had revenue of $131.00 million during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $0.18 earnings per share. As a group, analysts anticipate that Shell Midstream Partners LP will post 1.74 earnings per share for the current fiscal year.

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

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