First Trust Advisors LP acquired a new stake in shares of Hess Midstream Partners LP (NYSE:HESM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 24,306 shares of the company’s stock, valued at approximately $413,000. First Trust Advisors LP owned approximately 0.09% of Hess Midstream Partners at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Duff & Phelps Investment Management Co. lifted its stake in Hess Midstream Partners by 0.5% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 223,061 shares of the company’s stock valued at $3,788,000 after buying an additional 1,200 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Hess Midstream Partners in the fourth quarter worth approximately $36,000. Franklin Square Holdings L.P. lifted its position in shares of Hess Midstream Partners by 7.9% in the third quarter. Franklin Square Holdings L.P. now owns 38,490 shares of the company’s stock worth $891,000 after purchasing an additional 2,815 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Hess Midstream Partners by 3.6% in the third quarter. Wells Fargo & Company MN now owns 240,622 shares of the company’s stock worth $5,489,000 after purchasing an additional 8,283 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Hess Midstream Partners in the fourth quarter worth approximately $183,000. 49.41% of the stock is owned by institutional investors.
In related news, CFO Jonathan C. Stein sold 1,381 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $22.63, for a total transaction of $31,252.03. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 2,714 shares of company stock worth $60,318.
Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Wednesday, January 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The business had revenue of $171.20 million for the quarter, compared to the consensus estimate of $171.85 million. Hess Midstream Partners had a net margin of 10.54% and a return on equity of 2.63%. As a group, equities research analysts predict that Hess Midstream Partners LP will post 1.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Friday, May 3rd will be given a dividend of $0.3833 per share. This represents a $1.53 annualized dividend and a yield of 6.68%. The ex-dividend date is Thursday, May 2nd. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.37. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 116.54%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Hess Midstream Partners from a “sell” rating to a “hold” rating in a research report on Saturday, March 2nd. Wells Fargo & Co reissued a “market perform” rating and issued a $24.00 price target (down from $27.00) on shares of Hess Midstream Partners in a research report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. lowered shares of Hess Midstream Partners from an “overweight” rating to a “neutral” rating and set a $27.00 price target for the company. in a research report on Tuesday, March 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $25.33.
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Hess Midstream Partners 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 is involved in the natural gas and crude oil gathering and compression activities located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.
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