Catalyst Capital Advisors LLC Grows Position in Hess Midstream Partners LP (NYSE:HESM)

Catalyst Capital Advisors LLC increased its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 207,931 shares of the company’s stock after acquiring an additional 12,700 shares during the quarter. Catalyst Capital Advisors LLC owned about 0.10% of Hess Midstream Partners worth $8,793,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HESM. Artemis Investment Management LLP lifted its stake in Hess Midstream Partners by 131.4% in the 1st quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company’s stock worth $83,288,000 after purchasing an additional 1,118,245 shares in the last quarter. Zimmer Partners LP bought a new stake in shares of Hess Midstream Partners in the fourth quarter worth about $23,415,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Hess Midstream Partners by 41.0% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,825,485 shares of the company’s stock worth $77,200,000 after buying an additional 530,626 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in shares of Hess Midstream Partners in the fourth quarter worth about $19,642,000. Finally, Deutsche Bank AG grew its holdings in Hess Midstream Partners by 56.3% during the 4th quarter. Deutsche Bank AG now owns 1,405,510 shares of the company’s stock valued at $52,046,000 after buying an additional 506,430 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Stock Down 0.4%

Shares of NYSE HESM opened at $38.21 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 6.92. Hess Midstream Partners LP has a 12-month low of $33.59 and a 12-month high of $44.05. The firm’s 50-day moving average price is $38.23 and its 200-day moving average price is $39.08. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 14.98 and a beta of 0.63.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $382.00 million for the quarter, compared to the consensus estimate of $384.28 million. Hess Midstream Partners had a return on equity of 54.89% and a net margin of 16.43%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. On average, equities research analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS 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. Investors of record on Thursday, May 8th were issued a dividend of $0.7098 per share. This represents a $2.84 annualized dividend and a yield of 7.43%. The ex-dividend date was Thursday, May 8th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.70. Hess Midstream Partners’s dividend payout ratio is presently 111.37%.

Analysts Set New Price Targets

HESM has been the topic of a number of research reports. Wells Fargo & Company reduced their price objective on Hess Midstream Partners from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, March 27th.

Insider Buying and Selling at Hess Midstream Partners

In other Hess Midstream Partners news, Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream Partners 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business’s stock in a transaction on Friday, May 30th. The shares were 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.

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.