Burkehill Global Management LP Makes New $10.57 Million Investment in Hess Midstream Partners LP (NYSE:HESM)

Key Points

• Burkehill Global Management LP acquired 250,000 shares of Hess Midstream Partners, amounting to approximately $10.57 million, increasing its ownership to 0.11% by the end of the last quarter.
• Hess Midstream Partners recently declared a quarterly dividend of $0.737, up from a previous dividend of $0.71, reflecting an annualized dividend yield of 7.1% and a payout ratio of 108.89%.
• Brokerages show a generally positive outlook on Hess Midstream, with Wells Fargo raising their price target to $48.00 and several analysts rating the stock as a "buy."

Burkehill Global Management LP acquired a new stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 250,000 shares of the company's stock, valued at approximately $10,572,000. Burkehill Global Management LP owned 0.11% of Hess Midstream Partners at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. boosted its position 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 worth $1,114,605,000 after acquiring an additional 6,251,664 shares during the period. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Hess Midstream Partners by 1.1% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company's stock valued at $280,728,000 after buying an additional 83,943 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Hess Midstream Partners by 11.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company's stock valued at $185,560,000 after buying an additional 496,464 shares during the period. Invesco Ltd. lifted its holdings in shares of Hess Midstream Partners by 4.9% in the fourth quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock valued at $151,490,000 after buying an additional 191,175 shares during the period. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of Hess Midstream Partners by 5.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company's stock valued at $122,553,000 after buying an additional 165,933 shares during the period. Institutional investors and hedge funds own 98.97% of the company's stock.

Hess Midstream Partners Trading Down 0.3%

Shares of Hess Midstream Partners stock traded down $0.12 on Wednesday, reaching $41.70. 127,058 shares of the company were exchanged, compared to its average volume of 1,338,850. The stock has a fifty day moving average price of $39.45 and a 200-day moving average price of $39.45. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 15.44 and a beta of 0.67. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. Hess Midstream Partners LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.14.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.18. The firm had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%. Hess Midstream Partners's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. On average, analysts expect that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be given a dividend of $0.737 per share. The ex-dividend date of this dividend is Thursday, August 7th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 annualized dividend and a yield of 7.1%. Hess Midstream Partners's payout ratio is presently 108.89%.

Insider Buying and Selling at Hess Midstream Partners

In related 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Geurt G. Schoonman sold 3,249 shares of the company's stock in a transaction on Monday, June 9th. The shares were 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 Analysts Forecast Growth

HESM has been the subject of several research analyst reports. Morgan Stanley initiated coverage on Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price objective for the company. 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 upped their price objective on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Hess Midstream Partners presently has an average rating of "Moderate Buy" and a consensus target price 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.