Bank of Montreal Can Purchases 40,400 Shares of Shell Midstream Partners, L.P. (NYSE:SHLX)

Bank of Montreal Can lifted its position in shares of Shell Midstream Partners, L.P. (NYSE:SHLXGet Rating) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,708,581 shares of the pipeline company’s stock after buying an additional 40,400 shares during the quarter. Bank of Montreal Can’s holdings in Shell Midstream Partners were worth $24,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp grew its position in shares of Shell Midstream Partners by 9.9% during the 1st quarter. Van ECK Associates Corp now owns 13,745 shares of the pipeline company’s stock worth $195,000 after buying an additional 1,233 shares in the last quarter. HighTower Advisors LLC boosted its position in Shell Midstream Partners by 1.1% during the first quarter. HighTower Advisors LLC now owns 136,608 shares of the pipeline company’s stock valued at $1,944,000 after purchasing an additional 1,450 shares in the last quarter. Selective Wealth Management Inc. boosted its position in Shell Midstream Partners by 66.7% during the second quarter. Selective Wealth Management Inc. now owns 5,000 shares of the pipeline company’s stock valued at $70,000 after purchasing an additional 2,000 shares in the last quarter. GraniteShares Advisors LLC boosted its position in Shell Midstream Partners by 3.0% during the second quarter. GraniteShares Advisors LLC now owns 72,748 shares of the pipeline company’s stock valued at $1,023,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Cetera Advisor Networks LLC boosted its position in Shell Midstream Partners by 21.6% during the first quarter. Cetera Advisor Networks LLC now owns 14,117 shares of the pipeline company’s stock valued at $201,000 after purchasing an additional 2,506 shares in the last quarter.

Shell Midstream Partners Price Performance

Shares of NYSE SHLX opened at $15.82 on Monday. The company has a debt-to-equity ratio of 3.74, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $6.22 billion, a PE ratio of 13.07 and a beta of 1.24. The business has a 50-day simple moving average of $15.82 and a two-hundred day simple moving average of $15.13. Shell Midstream Partners, L.P. has a fifty-two week low of $10.76 and a fifty-two week high of $16.08.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SHLX. StockNews.com began coverage on Shell Midstream Partners in a research report on Monday. They set a “hold” rating on the stock. Mizuho raised their price objective on Shell Midstream Partners from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, August 1st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.75.

Shell Midstream Partners Profile

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Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream, and logistics 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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