Hess Midstream Partners LP $HESM Shares Bought by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Hess Midstream Partners LP by 31%, acquiring an additional 77,058 shares, bringing its total ownership to approximately 0.15% valued at $13.76 million.
• Hess Midstream Partners reported a quarterly earnings per share of $0.74, beating estimates, with revenues of $414.20 million, a 13.3% increase year-over-year.
• The company announced a dividend increase to $0.737 per share, which equates to a 7.2% yield, with a dividend payout ratio currently at 109.26%.

Algert Global LLC increased its position in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 31.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 325,371 shares of the company's stock after acquiring an additional 77,058 shares during the period. Algert Global LLC owned approximately 0.15% of Hess Midstream Partners worth $13,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HESM. Alps Advisors Inc. raised its stake in Hess Midstream Partners by 31.1% in the 1st quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock worth $1,114,605,000 after acquiring an additional 6,251,664 shares during the last quarter. Artemis Investment Management LLP raised its stake in Hess Midstream Partners by 131.4% in the 1st quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company's stock worth $83,288,000 after acquiring an additional 1,118,245 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in Hess Midstream Partners in the 1st quarter worth $29,640,000. Zimmer Partners LP purchased a new position in Hess Midstream Partners in the 4th quarter worth $23,415,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Hess Midstream Partners by 41.0% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,825,485 shares of the company's stock worth $77,200,000 after acquiring an additional 530,626 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company's stock.

Insider Activity

In other news, COO John A. Gatling sold 62,457 shares of the firm's stock in a transaction dated 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Geurt G. Schoonman sold 3,249 shares of the firm's stock in a transaction dated 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. Insiders have sold 15,088,223 shares of company stock worth $556,454,599 in the last ninety days.

Hess Midstream Partners Stock Performance

Shares of NYSE HESM traded up $0.1410 during trading on Friday, reaching $41.4610. 306,867 shares of the company traded hands, compared to its average volume of 1,338,122. The firm's fifty day simple moving average is $39.81 and its 200 day simple moving average is $39.48. The stock has a market cap of $8.71 billion, a P/E ratio of 15.36 and a beta of 0.67. 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.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The firm had revenue of $414.20 million for the quarter, compared to analysts' expectations of $405.08 million. During the same period last year, the firm earned $0.59 EPS. The company's quarterly revenue was up 13.3% on a year-over-year basis. As a group, research 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 firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a dividend of $0.737 per share. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 7th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 7.1%. Hess Midstream Partners's payout ratio is 108.89%.

Wall Street Analysts Forecast Growth

HESM has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on Hess Midstream Partners from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday. Morgan Stanley initiated coverage on Hess Midstream Partners in a research note on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective for the company. Finally, Wall Street Zen upgraded Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Hess Midstream Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.20.

Hess Midstream Partners 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.