Allianz Asset Management GmbH Invests $29.64 Million in Hess Midstream Partners LP (NYSE:HESM)

Allianz Asset Management GmbH acquired a new position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 700,865 shares of the company's stock, valued at approximately $29,640,000. Allianz Asset Management GmbH owned 0.32% of Hess Midstream Partners as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. increased its stake in shares of 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 period. Artemis Investment Management LLP increased its position 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 valued at $83,288,000 after acquiring an additional 1,118,245 shares during the period. Zimmer Partners LP bought a new stake in Hess Midstream Partners during the 4th quarter valued at $23,415,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Hess Midstream Partners by 41.0% during 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 period. Finally, HITE Hedge Asset Management LLC bought a new position in shares of Hess Midstream Partners in the fourth quarter worth $19,642,000. Institutional investors and hedge funds own 98.97% of the company's stock.

Insider Buying and Selling at Hess Midstream Partners

In other news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $36.86, for a total value of $553,729,976.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Geurt G. Schoonman sold 3,249 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $39.10, for a total transaction of $127,035.90. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several equities analysts have commented on HESM shares. Morgan Stanley started coverage on shares of Hess Midstream Partners in a research note on Friday. They set an "equal weight" rating and a $48.00 target price on the stock. Wells Fargo & Company upgraded shares of Hess Midstream Partners from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $41.00 to $47.00 in a report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $45.60.

Hess Midstream Partners Price Performance

NYSE:HESM traded up $0.82 during mid-day trading on Friday, reaching $40.29. 2,852,094 shares of the stock were exchanged, compared to its average volume of 1,430,931. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 6.92. The business has a fifty day moving average price of $38.51 and a 200 day moving average price of $39.30. Hess Midstream Partners LP has a 1-year low of $33.59 and a 1-year high of $44.05. The firm has a market capitalization of $8.68 billion, a PE ratio of 15.80 and a beta of 0.63.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $382.00 million during the quarter, compared to the consensus estimate of $384.28 million. Hess Midstream Partners had a return on equity of 54.89% and a net margin of 16.43%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. Research analysts expect 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 was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were given a dividend of $0.7098 per share. This represents a $2.84 annualized dividend and a yield of 7.05%. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.70. The ex-dividend date was Thursday, May 8th. Hess Midstream Partners's payout ratio is presently 111.37%.

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.