Algert Global LLC Grows Stock Holdings in Hess Midstream Partners LP $HESM

Key Points

• Algert Global increased its Hess Midstream Partners stake by 362.1% in the second quarter, owning 377,010 shares valued at approximately $14.2 million. Institutional investors and hedge funds collectively own 98.97% of the company.
• Hess Midstream Partners exceeded quarterly earnings expectations, reporting $0.75 EPS versus the $0.67 consensus estimate, while revenue fell 3.7% year over year to $399 million.
• The company raised its quarterly dividend to $0.7888, equivalent to an annualized $3.16 payout and an 8.1% yield. Despite the attractive income, analysts’ consensus rating is “Reduce,” with an average price target of $37.67.

Algert Global LLC lifted its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 362.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377,010 shares of the company's stock after purchasing an additional 295,432 shares during the period. Algert Global LLC owned about 0.18% of Hess Midstream Partners worth $14,176,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust acquired a new stake in Hess Midstream Partners in the second quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in Hess Midstream Partners in the fourth quarter worth $44,000. IFP Advisors Inc raised its holdings in shares of Hess Midstream Partners by 70.0% during the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company's stock valued at $49,000 after buying an additional 582 shares during the last quarter. CENTRAL TRUST Co boosted its holdings in shares of Hess Midstream Partners by 124.4% in the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company's stock valued at $84,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock worth $92,000 after acquiring an additional 300 shares during the period. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HESM. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. Morgan Stanley reissued an "underweight" rating and set a $39.00 price objective on shares of Hess Midstream Partners in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $37.67.

Hess Midstream Partners Stock Performance

NYSE:HESM opened at $39.08 on Wednesday. The firm has a 50 day moving average of $39.24 and a 200-day moving average of $38.78. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 9.39. The stock has a market capitalization of $8.06 billion, a P/E ratio of 13.48 and a beta of 0.52. Hess Midstream Partners LP has a 1 year low of $31.63 and a 1 year high of $41.75.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The business had revenue of $399.00 million for the quarter, compared to analyst estimates of $395.96 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hess Midstream Partners LP will post 2.94 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, August 6th were issued a $0.7888 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 8.1%. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.78. The ex-dividend date was Thursday, August 6th. Hess Midstream Partners's dividend payout ratio is presently 108.97%.

About Hess Midstream Partners

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.

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