Hess Midstream Partners LP (NYSE:HESM) Shares Purchased by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lifted its holdings in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 53.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,299,294 shares of the company's stock after purchasing an additional 452,574 shares during the quarter. Hess Midstream Partners accounts for approximately 1.7% of Miller Howard Investments Inc. NY's investment portfolio, making the stock its 20th largest position. Miller Howard Investments Inc. NY owned 0.60% of Hess Midstream Partners worth $54,947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. IFP Advisors Inc lifted its position in shares of Hess Midstream Partners by 33.3% during the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock worth $109,000 after purchasing an additional 733 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Hess Midstream Partners by 2.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company's stock worth $439,000 after purchasing an additional 298 shares during the last quarter. US Bancorp DE lifted its position in shares of Hess Midstream Partners by 34.0% during the fourth quarter. US Bancorp DE now owns 2,010 shares of the company's stock worth $74,000 after purchasing an additional 510 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of Hess Midstream Partners during the fourth quarter worth $292,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Hess Midstream Partners by 77.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock worth $49,000 after purchasing an additional 579 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 Securities & Exchange Commission, which is available at this link. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the company's 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.

Hess Midstream Partners Stock Performance

NYSE HESM traded down $0.16 during trading hours on Friday, reaching $38.21. The stock had a trading volume of 684,750 shares, compared to its average volume of 1,042,827. The stock has a fifty day moving average of $38.21 and a 200 day moving average of $39.10. The stock has a market cap of $8.23 billion, a P/E ratio of 14.98 and a beta of 0.63. Hess Midstream Partners LP has a 52-week low of $33.59 and a 52-week 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.

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

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were given a dividend of $0.7098 per share. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.43%. Hess Midstream Partners's dividend payout ratio (DPR) is 111.37%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HESM. Wells Fargo & Company decreased their target price on 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. JPMorgan Chase & Co. lifted their price objective on Hess Midstream Partners from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, March 27th.

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.