Sequoia Financial Advisors LLC Purchases New Position in Hess Midstream Partners LP (NYSE:HESM)

Sequoia Financial Advisors LLC purchased a new stake in Hess Midstream Partners LP (NYSE:HESM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,500 shares of the company's stock, valued at approximately $317,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new stake in Hess Midstream Partners in the first quarter valued at approximately $226,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Hess Midstream Partners by 22.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,507 shares of the company's stock worth $614,000 after purchasing an additional 2,650 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Hess Midstream Partners by 1.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 93,097 shares of the company's stock worth $3,937,000 after purchasing an additional 1,356 shares in the last quarter. FSC Wealth Advisors LLC bought a new position in shares of Hess Midstream Partners in the 1st quarter worth $58,000. Finally, PFG Investments LLC bought a new position in shares of Hess Midstream Partners in the 1st quarter worth $202,000. Institutional investors and hedge funds own 98.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Hess Midstream Partners from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Wells Fargo & Company lowered their price target 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.

Hess Midstream Partners Stock Performance

Shares of Hess Midstream Partners stock traded down $0.31 during trading hours on Monday, hitting $37.90. 875,118 shares of the company's stock traded hands, compared to its average volume of 1,044,326. Hess Midstream Partners LP has a 12-month low of $33.59 and a 12-month high of $44.05. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 14.86 and a beta of 0.63. The company has a fifty day simple moving average of $38.19 and a 200-day simple moving average of $39.16. 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 quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The firm had revenue of $382.00 million during the quarter, compared to the consensus estimate of $384.28 million. Hess Midstream Partners had a return on equity of 54.89% and a net margin of 16.43%. The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. Equities research analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal 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 paid a dividend of $0.7098 per share. The ex-dividend date of this dividend was Thursday, May 8th. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 7.49%. Hess Midstream Partners's payout ratio is 111.37%.

Insider Activity at Hess Midstream Partners

In other news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business's stock in a transaction on Friday, May 30th. The stock was 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 value of $127,035.90. The disclosure for this sale can be found here.

Hess Midstream Partners Company 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.