Cooper Investors PTY Ltd. Lowers Holdings in Hess Midstream Partners LP (NYSE:HESM)

Cooper Investors PTY Ltd. lowered its position in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 12.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 325,921 shares of the company's stock after selling 44,936 shares during the period. Hess Midstream Partners comprises approximately 2.2% of Cooper Investors PTY Ltd.'s holdings, making the stock its 19th largest position. Cooper Investors PTY Ltd. owned 0.15% of Hess Midstream Partners worth $13,783,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its position in shares of Hess Midstream Partners by 2.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company's stock valued at $439,000 after acquiring an additional 298 shares in the last quarter. ProShare Advisors LLC raised its stake in Hess Midstream Partners by 5.7% during the 4th quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock valued at $294,000 after purchasing an additional 429 shares during the period. Virtus ETF Advisers LLC raised its stake in Hess Midstream Partners by 9.5% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock valued at $184,000 after purchasing an additional 432 shares during the period. WBI Investments LLC lifted its holdings in Hess Midstream Partners by 2.5% in the 4th quarter. WBI Investments LLC now owns 18,309 shares of the company's stock worth $678,000 after purchasing an additional 446 shares in the last quarter. Finally, South Street Advisors LLC boosted its stake in Hess Midstream Partners by 7.8% in the 4th quarter. South Street Advisors LLC now owns 6,250 shares of the company's stock worth $231,000 after purchasing an additional 450 shares during the period. Institutional investors own 98.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Hess Midstream Partners from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Wells Fargo & Company decreased their price objective on Hess Midstream Partners from $42.00 to $41.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Hess Midstream Partners has a consensus rating of "Moderate Buy" and a consensus target price of $42.80.

Hess Midstream Partners Price Performance

Shares of Hess Midstream Partners stock traded down $0.38 during trading hours on Wednesday, reaching $37.84. The company's stock had a trading volume of 1,186,168 shares, compared to its average volume of 1,019,923. The company has a debt-to-equity ratio of 6.92, a current ratio of 0.81 and a quick ratio of 0.81. Hess Midstream Partners LP has a one year low of $33.59 and a one year high of $44.05. The firm has a 50 day moving average price of $38.11 and a 200-day moving average price of $39.00. The stock has a market cap of $8.15 billion, a P/E ratio of 14.84 and a beta of 0.63.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The business had revenue of $382.00 million for the quarter, compared to the consensus estimate of $384.28 million. Hess Midstream Partners had a return on equity of 54.89% and a net margin of 16.43%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. On average, analysts predict that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were issued a dividend of $0.7098 per share. This represents a $2.84 annualized dividend and a yield of 7.50%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, May 8th. Hess Midstream Partners's dividend payout ratio is presently 111.37%.

Insiders Place Their Bets

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

Hess Midstream Partners 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.