ELCO Management Co. LLC Sells 6,570 Shares of 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% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 SEC filing.

Several other large investors have also recently bought and sold shares of HESM. Alps Advisors Inc. lifted its holdings in Hess Midstream Partners by 31.1% during the 1st quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock worth $1,114,605,000 after buying an additional 6,251,664 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in Hess Midstream Partners by 131.4% during the 1st quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company's stock worth $83,288,000 after buying an additional 1,118,245 shares in the last quarter. Zimmer Partners LP acquired a new position in Hess Midstream Partners during the 4th quarter worth $23,415,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Hess Midstream Partners by 41.0% during the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,825,485 shares of the company's stock worth $77,200,000 after buying an additional 530,626 shares in the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new position in Hess Midstream Partners during the 4th quarter worth $19,642,000. Institutional investors and hedge funds own 98.97% of the company's stock.

Hess Midstream Partners Trading Up 0.4%

Shares of Hess Midstream Partners stock traded up $0.17 on Friday, hitting $38.44. 1,062,250 shares of the company's stock traded hands, compared to its average volume of 1,054,241. The firm's 50-day moving average price is $38.26 and its two-hundred day moving average price is $39.17. The stock has a market capitalization of $8.28 billion, a PE ratio of 15.07 and a beta of 0.63. Hess Midstream Partners LP has a one year low of $33.59 and a one year high of $44.05. 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 (NYSE:HESM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $384.28 million. During the same quarter in the previous year, the company posted $0.60 EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts expect that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were given a $0.7098 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.39%. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.70. Hess Midstream Partners's dividend payout ratio is currently 110.98%.

Insiders Place Their Bets

In related news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $36.86, for a total value of $553,729,976.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Geurt G. Schoonman sold 3,249 shares of the company'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 disclosure for this sale can be found here.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. 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 for the company in a research report on Thursday, May 1st.

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.