AlphaQuest LLC Increases Stock Position in Hess Midstream Partners LP $HESM

Key Points

• AlphaQuest LLC increased its stake in Hess Midstream Partners LP by 449.2% during the second quarter, owning 27,229 shares valued at approximately $1,049,000.
• Hess Midstream Partners recently announced a quarterly dividend of $0.737 per share, marking an increase from its previous dividend of $0.71 and representing an annual yield of 8.7%.
• Wall Street analysts have mixed ratings on Hess Midstream Partners, with a consensus rating of "Hold" and an average price target of $40.57.

AlphaQuest LLC lifted its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 449.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,229 shares of the company's stock after buying an additional 22,271 shares during the quarter. AlphaQuest LLC's holdings in Hess Midstream Partners were worth $1,049,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Leisure Capital Management lifted its stake in shares of Hess Midstream Partners by 2.0% during the 1st quarter. Leisure Capital Management now owns 26,681 shares of the company's stock valued at $1,128,000 after buying an additional 533 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Hess Midstream Partners by 4.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the company's stock valued at $615,000 after buying an additional 570 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Hess Midstream Partners by 20.0% during the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock valued at $149,000 after buying an additional 586 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its stake in shares of Hess Midstream Partners by 3.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 19,215 shares of the company's stock valued at $813,000 after buying an additional 593 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Hess Midstream Partners during the 2nd quarter worth approximately $25,000. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HESM shares. Citigroup decreased their target price on shares of Hess Midstream Partners from $41.00 to $37.00 and set a "neutral" rating on the stock in a report on Tuesday, September 23rd. Zacks Research lowered shares of Hess Midstream Partners from a "strong-buy" rating to a "strong sell" rating in a report on Monday, October 20th. Wall Street Zen raised shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. The Goldman Sachs Group started coverage on shares of Hess Midstream Partners in a report on Tuesday, September 30th. They set a "neutral" rating and a $36.00 target price on the stock. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Hess Midstream Partners in a report on Saturday. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $40.57.

Hess Midstream Partners Price Performance

Shares of NYSE:HESM opened at $33.86 on Friday. The company's fifty day moving average price is $37.06 and its 200-day moving average price is $38.15. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 12.54 and a beta of 0.58. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $44.14. The company has a debt-to-equity ratio of 7.26, a current ratio of 0.71 and a quick ratio of 0.71.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued 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. The firm had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, equities 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. Investors of record on Thursday, August 7th were issued a dividend of $0.737 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 annualized dividend and a dividend yield of 8.7%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's payout ratio is 109.26%.

Insiders Place Their Bets

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

About Hess Midstream Partners

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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