AlphaQuest LLC Sells 46,323 Shares of Hess Midstream Partners LP $HESM

Key Points

• AlphaQuest LLC significantly reduced its stake in Hess Midstream Partners LP by 90.3%, owning 4,958 shares valued at $210,000 after selling 46,323 shares in the first quarter.
• Institutional investors currently hold 98.97% of Hess Midstream's stock, with several funds increasing their holdings in the first quarter, including Alps Advisors Inc. which raised its stake by 31.1%.
• Hess Midstream Partners announced a quarterly dividend increase to $0.737 per share, representing an annualized dividend of $2.95 and a 7.2% yield, despite a payout ratio exceeding 100%.

AlphaQuest LLC lowered its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 90.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,958 shares of the company's stock after selling 46,323 shares during the quarter. AlphaQuest LLC's holdings in Hess Midstream Partners were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hess Midstream Partners during the first quarter valued at approximately $31,000. Farther Finance Advisors LLC raised its position in Hess Midstream Partners by 840.2% in the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $45,000 after acquiring an additional 941 shares during the period. FSC Wealth Advisors LLC bought a new position in Hess Midstream Partners in the first quarter worth approximately $58,000. IFP Advisors Inc raised its position in Hess Midstream Partners by 20.0% in the first quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock worth $149,000 after acquiring an additional 586 shares during the period. Finally, PFG Investments LLC bought a new stake in shares of Hess Midstream Partners during the 1st quarter valued at $202,000. Institutional investors own 98.97% of the company's stock.

Insider Transactions at Hess Midstream Partners

In related news, COO John A. Gatling sold 62,457 shares of Hess Midstream Partners stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream Partners stock in a transaction dated Monday, June 9th. The shares were 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.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Hess Midstream Partners in a research report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective on the stock. Wall Street Zen upgraded shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $46.20.

Hess Midstream Partners Trading Down 1.5%

Shares of HESM stock traded down $0.64 during trading hours on Friday, reaching $40.64. 287,408 shares of the stock were exchanged, compared to its average volume of 1,322,240. 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. The company's 50-day moving average price is $40.35 and its 200-day moving average price is $39.55. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 15.05 and a beta of 0.68.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The firm had revenue of $414.20 million during the quarter, compared to analysts' expectations of $405.08 million. During the same period in the previous year, the company earned $0.59 EPS. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Hess Midstream Partners LP will post 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were paid a dividend of $0.737 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 7.3%. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's dividend payout ratio is presently 109.26%.

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.