Paralel Advisors LLC Purchases Shares of 59,361 Hess Midstream Partners LP $HESM

Paralel Advisors LLC acquired a new position in Hess Midstream Partners LP (NYSE:HESM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 59,361 shares of the company’s stock, valued at approximately $2,232,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HESM. Grove Bank & Trust bought a new stake in shares of Hess Midstream Partners in the 2nd quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hess Midstream Partners during the 4th quarter valued at about $44,000. IFP Advisors Inc increased its position in shares of Hess Midstream Partners by 70.0% during the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after purchasing an additional 582 shares during the last quarter. CENTRAL TRUST Co lifted its stake in shares of Hess Midstream Partners by 124.4% in the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after purchasing an additional 300 shares during the period. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Performance

Shares of Hess Midstream Partners stock opened at $39.17 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The stock’s fifty day moving average is $39.15 and its two-hundred day moving average is $38.70. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $41.80. The company has a market capitalization of $8.08 billion, a PE ratio of 13.51 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $399.00 million during the quarter, compared to analyst estimates of $395.96 million. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. As a group, analysts expect that Hess Midstream Partners LP will post 2.94 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, August 6th were issued a dividend of $0.7888 per share. The ex-dividend date was Thursday, August 6th. This represents a $3.16 annualized dividend and a dividend yield of 8.1%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 108.62%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley reaffirmed an “underweight” rating and set a $39.00 target price on shares of Hess Midstream Partners in a report on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $38.86.

Hess Midstream Partners Profile

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.