Kayne Anderson Capital Advisors LP Buys 276,779 Shares of Hess Midstream Partners LP (NYSE:HESM)

Kayne Anderson Capital Advisors LP boosted its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 10.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,885,110 shares of the company’s stock after purchasing an additional 276,779 shares during the quarter. Hess Midstream Partners comprises 2.7% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 13th biggest holding. Kayne Anderson Capital Advisors LP owned 1.32% of Hess Midstream Partners worth $122,011,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Hess Midstream Partners by 840.2% during the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock worth $45,000 after acquiring an additional 941 shares during the last quarter. FSC Wealth Advisors LLC purchased a new stake in Hess Midstream Partners in the 1st quarter valued at approximately $58,000. IFP Advisors Inc raised its position in shares of Hess Midstream Partners by 20.0% in the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company’s stock worth $149,000 after buying an additional 586 shares during the period. Virtus ETF Advisers LLC grew its stake 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 valued at $184,000 after acquiring an additional 432 shares in the last quarter. Finally, PFG Investments LLC acquired a new position in Hess Midstream Partners in the first quarter worth about $202,000. Institutional investors own 98.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HESM shares. Wells Fargo & Company decreased their target price on shares of Hess Midstream Partners from $42.00 to $41.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. 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.

Hess Midstream Partners Stock Performance

Hess Midstream Partners stock opened at $40.08 on Monday. The firm’s fifty day moving average price is $38.44 and its 200-day moving average price is $39.26. The stock has a market cap of $8.64 billion, a P/E ratio of 15.67 and a beta of 0.63. The company has a debt-to-equity ratio of 6.92, a quick ratio of 0.81 and a current ratio of 0.81. Hess Midstream Partners LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.05.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) 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 business had revenue of $382.00 million during the quarter, compared to analyst estimates of $384.28 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts expect that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared 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 boost from Hess Midstream Partners’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.84 annualized dividend and a dividend yield of 7.08%. Hess Midstream Partners’s dividend payout ratio is presently 111.37%.

Insider Buying and Selling at Hess Midstream Partners

In other Hess Midstream Partners 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business’s stock in a transaction dated 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.

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.