M&T Bank Corp Has $909,000 Stock Holdings in Hess Midstream Partners LP (NYSE:HESM)

M&T Bank Corp trimmed its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 28.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,500 shares of the company’s stock after selling 8,500 shares during the quarter. M&T Bank Corp’s holdings in Hess Midstream Partners were worth $909,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position 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 worth $45,000 after purchasing an additional 941 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Hess Midstream Partners by 77.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock worth $49,000 after purchasing an additional 579 shares in the last quarter. FSC Wealth Advisors LLC acquired a new position in Hess Midstream Partners during the 1st quarter worth approximately $58,000. US Bancorp DE increased its position in Hess Midstream Partners by 34.0% during the 4th quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after purchasing an additional 510 shares in the last quarter. Finally, Virtus ETF Advisers LLC increased its position in Hess Midstream Partners by 9.5% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company’s stock worth $184,000 after purchasing an additional 432 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HESM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Wells Fargo & Company reduced 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.

Insiders Place Their Bets

In related news, Director Geurt G. Schoonman sold 3,249 shares of the stock in a transaction on 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 can be accessed through this link. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $36.86, for a total transaction of $553,729,976.62. The disclosure for this sale can be found here.

Hess Midstream Partners Trading Up 1.3%

HESM opened at $38.95 on Tuesday. Hess Midstream Partners LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.05. The company has a debt-to-equity ratio of 6.92, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 15.27 and a beta of 0.63. The company’s 50 day moving average price is $38.26 and its two-hundred day moving average price is $39.19.

Hess Midstream Partners (NYSE:HESM) last posted its earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Hess Midstream Partners had a net margin of 16.43% and a return on equity of 54.89%. The firm had revenue of $382.00 million for the quarter, compared to analyst estimates of $384.28 million. During the same period in the previous year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts predict that Hess Midstream Partners LP will post 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were paid a $0.7098 dividend. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date was Thursday, May 8th. Hess Midstream Partners’s dividend payout ratio is currently 111.37%.

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.