Hess Midstream Partners LP (NYSE:HESM) Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC decreased its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 15.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,970 shares of the company’s stock after selling 913 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Hess Midstream Partners were worth $210,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in HESM. Farther Finance Advisors LLC raised its stake in Hess Midstream Partners by 840.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock valued at $45,000 after acquiring an additional 941 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Hess Midstream Partners by 77.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock valued at $49,000 after purchasing an additional 579 shares during the period. US Bancorp DE raised its stake 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. IFP Advisors Inc raised its stake 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. Finally, Virtus ETF Advisers LLC lifted its holdings in shares of Hess Midstream Partners by 9.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company’s stock worth $184,000 after purchasing an additional 432 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

Insider Activity at Hess Midstream Partners

In related news, Director Geurt G. Schoonman sold 3,249 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $39.10, for a total value of $127,035.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of Hess Midstream Partners 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 disclosure for this sale can be found here.

Hess Midstream Partners Stock Down 0.9%

HESM opened at $38.61 on Friday. 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 LP has a 12 month low of $33.59 and a 12 month high of $44.05. The stock has a market capitalization of $8.32 billion, a P/E ratio of 15.14 and a beta of 0.63. The business has a 50 day simple moving average of $38.00 and a 200-day simple moving average of $38.97.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 earnings per share (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 firm had revenue of $382.00 million during the quarter, compared to analysts’ expectations of $384.28 million. During the same quarter in the prior year, the business posted $0.60 earnings per share. Hess Midstream Partners’s revenue was up 7.4% compared to the same quarter last year. On average, equities analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were issued a $0.7098 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date of this dividend was Thursday, May 8th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.70. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 111.37%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HESM. JPMorgan Chase & Co. boosted their price objective on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Wells Fargo & Company lowered their target price on shares of Hess Midstream Partners from $42.00 to $41.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.80.

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.