Cohen & Steers Inc. reduced its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 68.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 318,021 shares of the company’s stock after selling 697,799 shares during the period. Cohen & Steers Inc. owned 1.17% of Hess Midstream Partners worth $5,400,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in HESM. Bank of Montreal Can acquired a new stake in shares of Hess Midstream Partners in the 4th quarter valued at about $36,000. Tortoise Index Solutions LLC grew its stake in shares of Hess Midstream Partners by 113.9% in the 4th quarter. Tortoise Index Solutions LLC now owns 5,417 shares of the company’s stock valued at $92,000 after buying an additional 2,885 shares during the period. Virtu Financial LLC acquired a new stake in shares of Hess Midstream Partners in the 4th quarter valued at about $183,000. BlackRock Inc. grew its stake in shares of Hess Midstream Partners by 116,337.5% in the 2nd quarter. BlackRock Inc. now owns 18,630 shares of the company’s stock valued at $367,000 after buying an additional 18,614 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Hess Midstream Partners in the 4th quarter valued at about $413,000. 49.55% of the stock is owned by institutional investors and hedge funds.
In other Hess Midstream Partners news, CFO Jonathan C. Stein sold 1,381 shares of Hess Midstream Partners stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $22.63, for a total transaction of $31,252.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John A. Gatling purchased 12,000 shares of the business’s stock in a transaction on Wednesday, December 26th. The shares were bought at an average price of $16.90 per share, with a total value of $202,800.00. The disclosure for this purchase can be found here.
Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Wednesday, January 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The company had revenue of $171.20 million for the quarter, compared to analyst estimates of $171.85 million. Hess Midstream Partners had a net margin of 10.54% and a return on equity of 2.63%. Equities research analysts expect that Hess Midstream Partners LP will post 1.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 13th. Shareholders of record on Monday, February 4th were paid a dividend of $0.3701 per share. The ex-dividend date of this dividend was Friday, February 1st. This represents a $1.48 dividend on an annualized basis and a yield of 6.54%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.36. Hess Midstream Partners’s payout ratio is 116.54%.
HESM has been the subject of several research reports. Credit Suisse Group set a $27.00 target price on Hess Midstream Partners and gave the company a “buy” rating in a research note on Friday, December 14th. Zacks Investment Research upgraded Hess Midstream Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 2nd. JPMorgan Chase & Co. downgraded Hess Midstream Partners from an “overweight” rating to a “neutral” rating and set a $27.00 target price for the company. in a research note on Tuesday. Finally, Morgan Stanley reduced their target price on Hess Midstream Partners from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, November 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $25.60.
Hess Midstream Partners Company Profile
Hess Midstream Partners LP owns, operates, develops, and acquires midstream assets to provide 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 include natural gas and crude oil gathering and compression systems located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.
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