LPL Financial LLC Acquires 818 Shares of Hess Midstream Partners LP (NYSE:HESM)

LPL Financial LLC increased its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 0.4% during the first quarter, Holdings Channel reports. The fund owned 195,428 shares of the company’s stock after acquiring an additional 818 shares during the quarter. LPL Financial LLC’s holdings in Hess Midstream Partners were worth $8,265,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. lifted its holdings in Hess Midstream Partners by 31.1% during the 1st quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company’s stock valued at $1,114,605,000 after purchasing an additional 6,251,664 shares during the last quarter. Artemis Investment Management LLP raised its position in shares of Hess Midstream Partners by 131.4% in the first quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company’s stock valued at $83,288,000 after purchasing an additional 1,118,245 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of Hess Midstream Partners during the 1st quarter worth about $29,640,000. Zimmer Partners LP acquired a new stake in shares of Hess Midstream Partners during the 4th quarter worth about $23,415,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Hess Midstream Partners by 41.0% during the 1st 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 during the period. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Partners Trading Up 1.4%

Shares of Hess Midstream Partners stock opened at $41.59 on Friday. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.81 and a current ratio of 0.71. The firm has a 50-day moving average of $39.30 and a 200-day moving average of $39.45. Hess Midstream Partners LP has a 52-week low of $33.59 and a 52-week high of $44.14. The stock has a market cap of $8.96 billion, a PE ratio of 15.40 and a beta of 0.67.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $405.08 million. During the same quarter in the previous year, the company earned $0.59 EPS. The business’s revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be paid a $0.737 dividend. This represents a $2.95 annualized dividend and a dividend yield of 7.1%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, August 7th. Hess Midstream Partners’s dividend payout ratio is presently 108.89%.

Insider Activity at Hess Midstream Partners

In other news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the company’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Geurt G. Schoonman sold 3,249 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $39.10, for a total value of $127,035.90. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HESM. Morgan Stanley initiated coverage on shares of Hess Midstream Partners in a research note on Friday, July 25th. They issued an “equal weight” rating and a $48.00 price target on the stock. Wall Street Zen upgraded Hess Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company increased their target price on Hess Midstream Partners from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.80.

Hess Midstream Partners 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.