Mariner Investment Group LLC Buys 172,600 Shares of Shell Midstream Partners, L.P. (NYSE:SHLX)

Mariner Investment Group LLC boosted its stake in shares of Shell Midstream Partners, L.P. (NYSE:SHLX) by 690.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,600 shares of the pipeline company’s stock after buying an additional 172,600 shares during the period. Shell Midstream Partners, L.P. makes up 3.3% of Mariner Investment Group LLC’s portfolio, making the stock its 13th largest position. Mariner Investment Group LLC owned approximately 0.11% of Shell Midstream Partners, L.P. worth $5,987,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SHLX. Envestnet Asset Management Inc. raised its stake in shares of Shell Midstream Partners, L.P. by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,626 shares of the pipeline company’s stock valued at $149,000 after buying an additional 63 shares during the period. Paragon Capital Management Ltd increased its stake in shares of Shell Midstream Partners, L.P. by 0.9% in the second quarter. Paragon Capital Management Ltd now owns 11,800 shares of the pipeline company’s stock valued at $358,000 after buying an additional 105 shares in the last quarter. Country Club Trust Company n.a. increased its stake in shares of Shell Midstream Partners, L.P. by 1.3% in the first quarter. Country Club Trust Company n.a. now owns 10,606 shares of the pipeline company’s stock valued at $342,000 after buying an additional 141 shares in the last quarter. Global Endowment Management LP increased its stake in shares of Shell Midstream Partners, L.P. by 1.0% in the first quarter. Global Endowment Management LP now owns 19,620 shares of the pipeline company’s stock valued at $633,000 after buying an additional 200 shares in the last quarter. Finally, Diversified Trust Co increased its stake in shares of Shell Midstream Partners, L.P. by 1.6% in the second quarter. Diversified Trust Co now owns 28,777 shares of the pipeline company’s stock valued at $872,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 45.88% of the company’s stock.

Shell Midstream Partners, L.P. (NYSE SHLX) opened at 26.27 on Friday. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 21.31 and a beta of 1.17. The company’s 50-day moving average price is $28.63 and its 200 day moving average price is $30.81. Shell Midstream Partners, L.P. has a 52-week low of $25.42 and a 52-week high of $34.17.

Shell Midstream Partners, L.P. (NYSE:SHLX) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by $0.02. Shell Midstream Partners, L.P. had a net margin of 87.22% and a return on equity of 258.67%. The firm had revenue of $86.80 million during the quarter, compared to analyst estimates of $69.55 million. During the same period in the previous year, the company posted $0.35 EPS. Shell Midstream Partners, L.P.’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts predict that Shell Midstream Partners, L.P. will post $1.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were given a $0.3041 dividend. This represents a $1.22 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend was Thursday, July 27th. Shell Midstream Partners, L.P.’s payout ratio is 98.39%.

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Several brokerages have recently commented on SHLX. Zacks Investment Research raised Shell Midstream Partners, L.P. from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub downgraded Shell Midstream Partners, L.P. from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $36.00 target price on shares of Shell Midstream Partners, L.P. in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $37.83.

Shell Midstream Partners, L.P. Company 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.

Institutional Ownership by Quarter for Shell Midstream Partners, L.P. (NYSE:SHLX)

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