Aristeia Capital L.L.C. Makes New Investment in Hess Midstream Partners LP $HESM

Key Points

• Aristeia Capital L.L.C. acquired a new stake in Hess Midstream Partners LP, purchasing 8,186 shares valued at approximately $346,000.
• Analysts have set new price targets for Hess Midstream Partners, with Morgan Stanley initiating coverage at an "equal weight" rating and a $48 price target after Wells Fargo increased its target from $47 to $48.
• The company recently announced a quarterly dividend of $0.737 per share, representing a 7.2% yield, which is an increase from its previous dividend of $0.71.

Aristeia Capital L.L.C. acquired a new position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,186 shares of the company's stock, valued at approximately $346,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in HESM. Stifel Financial Corp lifted its holdings in shares of Hess Midstream Partners by 11.8% in the fourth quarter. Stifel Financial Corp now owns 12,848 shares of the company's stock worth $476,000 after acquiring an additional 1,358 shares during the last quarter. Northern Trust Corp increased its position in Hess Midstream Partners by 17.8% during the 4th quarter. Northern Trust Corp now owns 85,550 shares of the company's stock valued at $3,168,000 after purchasing an additional 12,939 shares during the period. BNP Paribas Financial Markets acquired a new stake in Hess Midstream Partners during the 4th quarter valued at approximately $977,000. Bank of America Corp DE grew its position in shares of Hess Midstream Partners by 16.2% during the 4th quarter. Bank of America Corp DE now owns 260,314 shares of the company's stock worth $9,639,000 after buying an additional 36,315 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of Hess Midstream Partners by 17.6% during the 4th quarter. Cetera Investment Advisers now owns 33,915 shares of the company's stock worth $1,256,000 after buying an additional 5,072 shares during the period. Institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Price Performance

Shares of NYSE HESM traded up $0.24 during midday trading on Thursday, hitting $39.76. 1,825,245 shares of the company's stock were exchanged, compared to its average volume of 1,336,281. Hess Midstream Partners LP has a 12-month low of $33.59 and a 12-month high of $44.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. The company has a market cap of $8.35 billion, a price-to-earnings ratio of 14.72 and a beta of 0.68. The business's fifty day moving average price is $40.50 and its two-hundred day moving average price is $39.53.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. The company had revenue of $414.20 million during 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 revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 earnings per share. As a group, research analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were paid a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 7.4%. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 7th. Hess Midstream Partners's payout ratio is currently 109.26%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HESM. Wells Fargo & Company lifted their price target on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Wall Street Zen raised shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. UBS Group reiterated a "neutral" rating and set a $43.00 target price (down from $45.00) on shares of Hess Midstream Partners in a research note on Wednesday. Finally, Citigroup restated a "neutral" rating and issued a $41.00 price objective (down from $42.00) on shares of Hess Midstream Partners in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $45.17.

Insider Buying and Selling at Hess Midstream Partners

In other news, COO John A. Gatling sold 62,457 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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.