ELCO Management Co. LLC Has $709,000 Holdings in Hess Midstream Partners LP (NYSE:HESM)

ELCO Management Co. LLC decreased its position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,777 shares of the company's stock after selling 6,570 shares during the quarter. ELCO Management Co. LLC's holdings in Hess Midstream Partners were worth $709,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Stephens Inc. AR lifted its holdings in Hess Midstream Partners by 7.8% in the first quarter. Stephens Inc. AR now owns 111,214 shares of the company's stock worth $4,703,000 after purchasing an additional 8,045 shares during the period. Arizona State Retirement System lifted its holdings in Hess Midstream Partners by 9.3% in the first quarter. Arizona State Retirement System now owns 33,007 shares of the company's stock worth $1,396,000 after purchasing an additional 2,804 shares during the period. Kesler Norman & Wride LLC lifted its holdings in Hess Midstream Partners by 14.7% in the first quarter. Kesler Norman & Wride LLC now owns 26,266 shares of the company's stock worth $1,111,000 after purchasing an additional 3,360 shares during the period. Alps Advisors Inc. lifted its holdings in Hess Midstream Partners by 31.1% in the first quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock worth $1,114,605,000 after purchasing an additional 6,251,664 shares during the period. Finally, U.S. Capital Wealth Advisors LLC lifted its holdings in Hess Midstream Partners by 1.5% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 47,133 shares of the company's stock worth $1,993,000 after purchasing an additional 682 shares during the period. Institutional investors and hedge funds own 98.97% of the company's stock.

Hess Midstream Partners Price Performance

NYSE HESM traded up $0.09 on Wednesday, reaching $38.17. The company's stock had a trading volume of 814,613 shares, compared to its average volume of 1,053,847. Hess Midstream Partners LP has a twelve month low of $33.59 and a twelve month high of $44.05. The company has a debt-to-equity ratio of 6.92, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $8.22 billion, a PE ratio of 14.97 and a beta of 0.63. The firm's 50 day moving average is $38.33 and its two-hundred day moving average is $39.19.

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

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were issued a $0.7098 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 7.44%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.70. The ex-dividend date was Thursday, May 8th. Hess Midstream Partners's dividend payout ratio is presently 111.37%.

Wall Street Analyst Weigh In

HESM has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective 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. Wells Fargo & Company reduced their price objective on shares of Hess Midstream Partners from $42.00 to $41.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st.

Insider Transactions at Hess Midstream Partners

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

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.