Advisors Asset Management Inc. Acquires 8,083 Shares of Hess Midstream Partners LP $HESM

Key Points

• Advisors Asset Management Inc. increased its stake in Hess Midstream Partners by 11.1% during the first quarter, purchasing an additional 8,083 shares, bringing its total holdings to 80,750 shares valued at approximately $3.4 million.
• Hess Midstream Partners recently declared a quarterly dividend of $0.737, representing a 7.2% dividend yield, which is an increase from the previous dividend of $0.71.
• Several brokerages have upgraded their ratings for Hess Midstream Partners, with JPMorgan Chase increasing their target price from $44.00 to $46.00 and maintaining a "neutral" rating.

Advisors Asset Management Inc. raised its holdings in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 11.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,750 shares of the company's stock after purchasing an additional 8,083 shares during the quarter. Advisors Asset Management Inc.'s holdings in Hess Midstream Partners were worth $3,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas bought a new position in Hess Midstream Partners in the 1st quarter valued at $707,000. Northern Trust Corp grew its stake in Hess Midstream Partners by 17.8% in 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. Financial Sense Advisors Inc. grew its stake in Hess Midstream Partners by 151.8% in the 1st quarter. Financial Sense Advisors Inc. now owns 352,067 shares of the company's stock valued at $14,889,000 after purchasing an additional 212,266 shares during the period. Wealthstar Advisors LLC bought a new position in Hess Midstream Partners in the 1st quarter valued at $670,000. Finally, Texas Yale Capital Corp. grew its stake in Hess Midstream Partners by 20.1% in the 1st quarter. Texas Yale Capital Corp. now owns 74,000 shares of the company's stock valued at $3,129,000 after purchasing an additional 12,400 shares during the period. Institutional investors own 98.97% of the company's stock.

Insider Buying and Selling at Hess Midstream Partners

In other news, COO John A. Gatling sold 62,457 shares of Hess Midstream Partners stock in a transaction on Tuesday, August 12th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream Partners 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.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $40.75 on Friday. The stock has a market cap of $8.56 billion, a PE ratio of 15.09 and a beta of 0.68. Hess Midstream Partners LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.14. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a fifty day moving average of $40.39 and a 200-day moving average of $39.55.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced 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 company had revenue of $414.20 million during the quarter, compared to analysts' expectations of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. Equities research analysts anticipate that Hess Midstream Partners LP will post 2.5 earnings per share 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 given a $0.737 dividend. This represents a $2.95 annualized dividend and a dividend yield of 7.2%. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 7th. Hess Midstream Partners's dividend payout ratio (DPR) is presently 109.26%.

Analyst Ratings Changes

Several brokerages have issued reports on HESM. JPMorgan Chase & Co. boosted their target price on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Wall Street Zen upgraded Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company boosted their target price on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Morgan Stanley began coverage on Hess Midstream Partners in a research note on Friday, July 25th. They issued an "equal weight" rating and a $48.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Hess Midstream Partners currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.20.

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.

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