Alberta Investment Management Corp Invests $1.51 Million in Hess Midstream Partners LP (NYSE:HESM)

Key Points

• Alberta Investment Management Corp has acquired a new stake in Hess Midstream Partners LP, investing approximately $1.51 million for 35,600 shares during the first quarter.
• Hess Midstream Partners has announced a quarterly dividend increase to $0.737 per share, with a dividend yield of 6.9%.
• Analysts have given Hess Midstream a consensus rating of "Moderate Buy" and a price target of $45.80, while the stock's performance saw a 2.3% decline recently.

Alberta Investment Management Corp acquired a new stake in Hess Midstream Partners LP (NYSE:HESM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 35,600 shares of the company's stock, valued at approximately $1,506,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Alps Advisors Inc. increased its holdings in Hess Midstream Partners by 31.1% in the first 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 during the last quarter. Tortoise Capital Advisors L.L.C. increased its holdings in 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 purchasing an additional 83,943 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 acquiring an additional 496,464 shares during the period. Invesco Ltd. grew its stake in 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 acquiring an additional 191,175 shares during the period. Finally, Epoch Investment Partners Inc. grew 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 period. Institutional investors own 98.97% of the company's stock.

Insider Activity

In other news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the company's stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Geurt G. Schoonman sold 3,249 shares of the company's stock in a transaction dated Monday, June 9th. The stock was 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 Analyst Weigh In

A number of research analysts have issued reports on HESM shares. Morgan Stanley started 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 for the company. 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. Finally, Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.80.

Hess Midstream Partners Stock Down 2.3%

HESM stock opened at $42.51 on Monday. The company has a debt-to-equity ratio of 6.92, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $9.16 billion, a P/E ratio of 15.74 and a beta of 0.67. The business has a 50-day moving average of $38.89 and a 200-day moving average of $39.41. 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 data on Wednesday, July 30th. The company reported $0.74 earnings per share 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 analysts' expectations of $405.08 million. Hess Midstream Partners had a return on equity of 61.46% and a net margin of 18.52%. Hess Midstream Partners's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. On average, sell-side analysts anticipate that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th will be given a dividend of $0.737 per share. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, August 7th. Hess Midstream Partners's payout ratio is currently 108.89%.

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.

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