Kovitz Investment Group Partners LLC Sells 10,912 Shares of Hess Midstream Partners LP $HESM

Key Points

• Kovitz Investment Group Partners LLC reduced its stake in Hess Midstream Partners LP by 21.2% during the first quarter, holding 40,679 shares valued at $1.72 million by the end of that quarter.
• Hess Midstream Partners declared a quarterly dividend of $0.737, an increase from the previous $0.71, representing a yield of 7.2%.
• The stock received a range of ratings from analysts, with Morgan Stanley initiating coverage at an "equal weight" rating and a price target of $48.00, while the average rating is currently a "Moderate Buy".

Kovitz Investment Group Partners LLC lessened its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 21.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,679 shares of the company's stock after selling 10,912 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Hess Midstream Partners were worth $1,720,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its position in shares of Hess Midstream Partners by 5.7% during the fourth quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock worth $294,000 after acquiring an additional 429 shares in the last quarter. Virtus ETF Advisers LLC lifted its position 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 acquiring an additional 432 shares in the last quarter. WBI Investments LLC boosted its stake 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 during the period. Leisure Capital Management increased its holdings in Hess Midstream Partners by 2.0% during the 1st quarter. Leisure Capital Management now owns 26,681 shares of the company's stock worth $1,128,000 after purchasing an additional 533 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Hess Midstream Partners by 4.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the company's stock worth $615,000 after purchasing an additional 570 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hess Midstream Partners

In related news, Director Geurt G. Schoonman sold 3,249 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $39.10, for a total value of $127,035.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $36.86, for a total transaction of $553,729,976.62. The disclosure for this sale can be found here. Insiders have sold a total of 15,088,223 shares of company stock worth $556,454,599 over the last ninety days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HESM shares. Wells Fargo & Company boosted their price target on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Morgan Stanley initiated coverage on shares of Hess Midstream Partners in a research report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 target price for the company. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Hess Midstream Partners presently has an average rating of "Moderate Buy" and a consensus target price of $46.20.

Hess Midstream Partners Stock Up 0.2%

Shares of NYSE HESM traded up $0.0690 during trading hours on Friday, hitting $41.3890. The company had a trading volume of 648,698 shares, compared to its average volume of 1,721,896. Hess Midstream Partners LP has a 1-year low of $33.59 and a 1-year high of $44.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. The firm's 50 day moving average is $39.85 and its 200-day moving average is $39.46. The stock has a market capitalization of $8.69 billion, a P/E ratio of 15.33 and a beta of 0.67.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The company had revenue of $414.20 million during the quarter, compared to analysts' expectations of $405.08 million. During the same period last year, the firm posted $0.59 earnings per share. The business's revenue was up 13.3% on a year-over-year basis. On average, analysts expect 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 Thursday, August 14th. Shareholders of record on Thursday, August 7th were given a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 7.1%. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 7th. Hess Midstream Partners's dividend payout ratio (DPR) is presently 109.26%.

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.