First Manhattan CO. LLC. Sells 4,060 Shares of Hess Midstream Partners LP $HESM

First Manhattan CO. LLC. lowered its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 41.2% during the first quarter, Holdings Channel reports. The firm owned 5,800 shares of the company’s stock after selling 4,060 shares during the period. First Manhattan CO. LLC.’s holdings in Hess Midstream Partners were worth $245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC bought a new position in shares of Hess Midstream Partners during the 4th quarter valued at $525,000. Teacher Retirement System of Texas bought a new position in Hess Midstream Partners in the 1st quarter worth $707,000. Northern Trust Corp raised its holdings in Hess Midstream Partners by 17.8% in the 4th quarter. Northern Trust Corp now owns 85,550 shares of the company’s stock worth $3,168,000 after acquiring an additional 12,939 shares during the period. Financial Sense Advisors Inc. raised its holdings in Hess Midstream Partners by 151.8% in the 1st quarter. Financial Sense Advisors Inc. now owns 352,067 shares of the company’s stock worth $14,889,000 after acquiring an additional 212,266 shares during the period. Finally, Wealthstar Advisors LLC bought a new position in Hess Midstream Partners in the 1st quarter worth $670,000. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Performance

NYSE HESM opened at $41.10 on Thursday. The company has a debt-to-equity ratio of 7.26, a current ratio of 0.71 and a quick ratio of 0.71. The company’s fifty day moving average is $40.30 and its two-hundred day moving average is $39.54. Hess Midstream Partners LP has a 52-week low of $33.59 and a 52-week high of $44.14. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 15.22 and a beta of 0.68.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The business had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. During the same period in the previous year, the business earned $0.59 EPS. The firm’s revenue was up 13.3% on a year-over-year basis. Equities research analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a dividend of $0.737 per share. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 7th. This represents a $2.95 annualized dividend and a dividend yield of 7.2%. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 109.26%.

Insider Activity

In other news, Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream Partners stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $39.10, for a total transaction of $127,035.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John A. Gatling sold 62,457 shares of Hess Midstream Partners stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Morgan Stanley assumed coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They issued an “equal weight” rating and a $48.00 target price on the stock. Wall Street Zen upgraded shares of Hess Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Hess Midstream Partners currently has an average rating of “Moderate Buy” and a consensus target price of $46.20.

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.