Bank of New York Mellon Corp Grows Stake in Hess Midstream Partners LP (NYSE:HESM)

Bank of New York Mellon Corp grew its position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,003,049 shares of the company's stock after buying an additional 88,239 shares during the quarter. Bank of New York Mellon Corp owned 0.46% of Hess Midstream Partners worth $42,419,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC bought a new position in shares of Hess Midstream Partners during the 4th quarter worth approximately $525,000. Envestnet Asset Management Inc. lifted its position in shares of Hess Midstream Partners by 2.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 120,180 shares of the company's stock worth $4,450,000 after buying an additional 3,412 shares in the last quarter. Northern Trust Corp lifted its position in shares of Hess Midstream Partners by 17.8% during the 4th quarter. Northern Trust Corp now owns 85,550 shares of the company's stock worth $3,168,000 after buying an additional 12,939 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Hess Midstream Partners during the 4th quarter worth approximately $12,976,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Hess Midstream Partners during the 4th quarter worth approximately $1,540,000. Institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Stock Performance

Shares of NYSE:HESM traded up $0.21 during mid-day trading on Thursday, reaching $38.39. The company had a trading volume of 938,474 shares, compared to its average volume of 1,053,814. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 6.92. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 15.05 and a beta of 0.63. The company's 50-day moving average price is $38.36 and its 200-day moving average price is $39.20. Hess Midstream Partners LP has a one year low of $33.59 and a one year high of $44.05.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $382.00 million for the quarter, compared to analysts' expectations of $384.28 million. Hess Midstream Partners had a net margin of 16.43% and a return on equity of 54.89%. Hess Midstream Partners's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. As a group, equities research analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were issued a dividend of $0.7098 per share. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.84 dividend on an annualized basis and a yield of 7.40%. Hess Midstream Partners's payout ratio is presently 111.37%.

Insiders Place Their Bets

In other Hess Midstream Partners news, Director Geurt G. Schoonman sold 3,249 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $39.10, for a total transaction of $127,035.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $36.86, for a total transaction of $553,729,976.62. The disclosure for this sale can be found here.

Analysts Set New Price Targets

HESM has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Hess Midstream Partners from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th.

Hess Midstream Partners Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.