14,942 Shares in Hess Midstream Partners LP (NYSE:HESM) Acquired by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP has acquired a new position in Hess Midstream Partners LP, purchasing 14,942 shares valued at approximately $632,000.
• Hess Midstream recently reported earnings of $0.74 per share, exceeding analysts' expectations, with a 13.3% increase in revenue compared to the previous year.
• The company announced a quarterly dividend increase to $0.737, which will provide a 7.1% dividend yield for stockholders.

Aigen Investment Management LP acquired a new position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,942 shares of the company's stock, valued at approximately $632,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alps Advisors Inc. boosted its holdings in shares of Hess Midstream Partners by 31.1% in the 1st quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock valued at $1,114,605,000 after purchasing an additional 6,251,664 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Hess Midstream Partners by 1.1% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company's stock worth $280,728,000 after purchasing an additional 83,943 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hess Midstream Partners by 11.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company's stock worth $185,560,000 after acquiring an additional 496,464 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in 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 acquiring an additional 165,933 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its stake in shares of Hess Midstream Partners by 10.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,885,110 shares of the company's stock worth $122,011,000 after purchasing an additional 276,779 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HESM. Wall Street Zen upgraded shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Morgan Stanley assumed coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective for the company. Finally, Wells Fargo & Company increased their price target on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Hess Midstream Partners currently has a consensus rating of "Moderate Buy" and an average price target of $45.80.

Hess Midstream Partners Stock Performance

NYSE:HESM traded down $0.31 during trading hours on Friday, reaching $41.16. 1,367,096 shares of the company's stock were exchanged, compared to its average volume of 2,175,004. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 15.24 and a beta of 0.67. The company has a 50-day moving average of $39.65 and a 200 day moving average of $39.48. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. Hess Midstream Partners LP has a 1-year low of $33.59 and a 1-year high of $44.14.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.56 by $0.18. The firm had revenue of $414.20 million during the quarter, compared to analysts' expectations of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 earnings per share. Research analysts anticipate 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 was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were given a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 7.2%. This is a positive change 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 dividend payout ratio is presently 108.89%.

Insider Buying and Selling at Hess Midstream Partners

In other news, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $36.86, for a total transaction of $553,729,976.62. The disclosure for this sale can be found here. Insiders have sold a total of 15,088,223 shares of company stock valued at $556,454,599 over the last ninety days.

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.