Naples Global Advisors LLC Raises Stock Position in Hess Midstream Partners LP $HESM

Naples Global Advisors LLC raised its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 67,365 shares of the company’s stock after buying an additional 2,140 shares during the quarter. Naples Global Advisors LLC’s holdings in Hess Midstream Partners were worth $2,594,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Hess Midstream Partners during the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Hess Midstream Partners during the 1st quarter valued at $31,000. 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 valued at $45,000 after purchasing an additional 941 shares during the period. FSC Wealth Advisors LLC purchased a new stake in shares of Hess Midstream Partners in the 1st quarter worth about $58,000. Finally, IFP Advisors Inc grew 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. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO John A. Gatling sold 62,457 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total value of $2,597,586.63. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Hess Midstream Partners Stock Performance

Shares of NYSE HESM opened at $34.71 on Thursday. The firm’s 50-day moving average price is $39.93 and its 200-day moving average price is $39.12. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. The company has a market cap of $7.29 billion, a PE ratio of 12.85 and a beta of 0.58. Hess Midstream Partners LP has a 52-week low of $33.59 and a 52-week high of $44.14.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The firm had revenue of $414.20 million for the quarter, compared to the consensus estimate of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. As a group, analysts anticipate 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 was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were issued a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date of this dividend was Thursday, August 7th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.71. Hess Midstream Partners’s payout ratio is 109.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company lowered shares of Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research note on Friday, September 19th. UBS Group reissued a “neutral” rating and issued a $43.00 target price (down from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. Wall Street Zen lowered shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Morgan Stanley began coverage on shares of Hess Midstream Partners in a research note on Friday, July 25th. They set an “equal weight” rating and a $48.00 price objective for the company. Finally, The Goldman Sachs Group began coverage on shares of Hess Midstream Partners in a research note on Tuesday. They set a “neutral” rating and a $36.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.00.

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.