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

A number of other institutional investors also recently made changes to their positions in the stock. Voleon Capital Management LP lifted its stake in shares of Hess Midstream Partners by 132.7% in the 1st quarter. Voleon Capital Management LP now owns 16,478 shares of the company's stock worth $697,000 after acquiring an additional 9,397 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Hess Midstream Partners by 10.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,233,773 shares of the company's stock worth $305,916,000 after acquiring an additional 655,062 shares during the period. Palo Duro Investment Partners LP lifted its stake in shares of Hess Midstream Partners by 27.3% in the 1st quarter. Palo Duro Investment Partners LP now owns 7,555 shares of the company's stock worth $320,000 after acquiring an additional 1,620 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Hess Midstream Partners in the 1st quarter worth approximately $235,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Hess Midstream Partners by 9.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,503,752 shares of the company's stock worth $232,754,000 after acquiring an additional 492,683 shares during the period. 98.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on HESM shares. UBS Group reiterated 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. Morgan Stanley started coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 target price on the stock. Wall Street Zen upgraded shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. boosted their target price 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. Finally, Citigroup reiterated a "neutral" rating and issued a $41.00 target price (down from $42.00) on shares of Hess Midstream Partners in a report on Thursday. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Hess Midstream Partners currently has an average rating of "Hold" and a consensus target price of $45.17.

Hess Midstream Partners Trading Down 1.0%

Shares of HESM stock traded down $0.40 during trading hours on Friday, reaching $39.31. 1,187,485 shares of the stock traded hands, compared to its average volume of 1,156,179. Hess Midstream Partners LP has a 1-year low of $33.59 and a 1-year high of $44.14. The business has a fifty day moving average price of $40.55 and a 200 day moving average price of $39.52. 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 firm has a market capitalization of $8.26 billion, a PE ratio of 14.56 and a beta of 0.68.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released 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 business had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The firm's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. On average, equities research 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 disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a $0.737 dividend. The ex-dividend date was Thursday, August 7th. This represents a $2.95 annualized dividend and a yield of 7.5%. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's dividend payout ratio (DPR) is currently 108.89%.

Insiders Place Their Bets

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the company's 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 transaction was disclosed in a document filed with the SEC, which is available at this link.

Hess Midstream Partners Company 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.