Alps Advisors Inc. Increases Position in Hess Midstream Partners LP (NYSE:HESM)

Alps Advisors Inc. lifted its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 31.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,356,221 shares of the company's stock after purchasing an additional 6,251,664 shares during the period. Hess Midstream Partners accounts for 6.5% of Alps Advisors Inc.'s investment portfolio, making the stock its 7th biggest holding. Alps Advisors Inc. owned approximately 12.09% of Hess Midstream Partners worth $1,114,605,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in Hess Midstream Partners by 840.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $45,000 after buying an additional 941 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Hess Midstream Partners by 77.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock worth $49,000 after buying an additional 579 shares during the period. FSC Wealth Advisors LLC bought a new position in Hess Midstream Partners in the 1st quarter worth approximately $58,000. US Bancorp DE boosted its holdings in Hess Midstream Partners by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock worth $74,000 after buying an additional 510 shares during the period. Finally, Virtus ETF Advisers LLC boosted its holdings in Hess Midstream Partners by 9.5% in 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. Hedge funds and other institutional investors own 98.97% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of Hess Midstream Partners 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $127,035.90. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

HESM has been the subject of several analyst reports. Wells Fargo & Company cut their price target 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. JPMorgan Chase & Co. raised their price target on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, March 27th.

Hess Midstream Partners Price Performance

Shares of NYSE HESM traded up $0.17 during mid-day trading on Friday, reaching $38.44. 1,062,250 shares of the company were exchanged, compared to its average volume of 1,051,973. Hess Midstream Partners LP has a 52 week low of $33.59 and a 52 week high of $44.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 6.92. The stock has a market capitalization of $8.28 billion, a PE ratio of 15.07 and a beta of 0.63. The company's 50 day moving average price is $38.26 and its 200 day moving average price is $39.16.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, topping 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 previous year, the firm posted $0.60 EPS. The firm's revenue was up 7.4% compared to the same quarter last year. Sell-side analysts forecast that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.7098 per share. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.39%. The ex-dividend date of this dividend was Thursday, May 8th. Hess Midstream Partners's payout ratio is currently 111.37%.

About Hess Midstream Partners

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.