Entropy Technologies LP trimmed its position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 80.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,678 shares of the company's stock after selling 24,119 shares during the quarter. Entropy Technologies LP's holdings in Hess Midstream Partners were worth $240,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HESM. Alps Advisors Inc. grew its position in Hess Midstream Partners by 31.1% during the first 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 during the period. Artemis Investment Management LLP lifted its stake in shares of Hess Midstream Partners by 131.4% during the first quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company's stock valued at $83,288,000 after buying an additional 1,118,245 shares during the period. Allianz Asset Management GmbH purchased a new position in shares of Hess Midstream Partners during the first quarter valued at approximately $29,640,000. Zimmer Partners LP purchased a new position in Hess Midstream Partners during the fourth quarter worth approximately $23,415,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Hess Midstream Partners by 41.0% during the first 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 purchasing an additional 530,626 shares during the period. 98.97% of the stock is currently owned by institutional investors and hedge funds.
Hess Midstream Partners Price Performance
Shares of NYSE HESM traded down $0.0660 during midday trading on Tuesday, reaching $40.8040. The company's stock had a trading volume of 203,715 shares, compared to its average volume of 1,340,106. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. The company has a 50 day moving average price of $39.69 and a 200 day moving average price of $39.45. Hess Midstream Partners LP has a one year low of $33.59 and a one year high of $44.14. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 15.11 and a beta of 0.67.
Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The business had revenue of $414.20 million for the quarter, compared to the consensus estimate of $405.08 million. During the same period in the previous year, the firm earned $0.59 EPS. The business's revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities research analysts expect 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 Thursday, August 14th. Stockholders of record on Thursday, August 7th were issued a dividend of $0.737 per share. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date was Thursday, August 7th. Hess Midstream Partners's dividend payout ratio (DPR) is presently 108.89%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on HESM shares. Wells Fargo & Company increased their price target on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen raised shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Morgan Stanley assumed coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Hess Midstream Partners presently has an average rating of "Moderate Buy" and a consensus target price of $45.80.
Read Our Latest Research Report on HESM
Insider Activity
In related news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business's stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The disclosure for this sale can be found here. Insiders have sold 15,088,223 shares of company stock worth $556,454,599 over the last 90 days.
Hess Midstream Partners Profile
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Free Report)
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.
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