American Century Companies Inc. Has $12.98 Million Stock Holdings in Hess Midstream Partners LP $HESM

Key Points

• American Century Companies Inc. increased its holdings in Hess Midstream Partners LP by 27.8%, owning approximately $12.98 million worth of the stock as of its latest filing.
• The company reported $0.74 earnings per share for the last quarter, exceeding analyst expectations, with a revenue of $414.20 million, a 13.3% increase year-over-year.
• Hess Midstream Partners recently increased its quarterly dividend to $0.737, representing a 7.2% yield, although the dividend payout ratio is at a high 109.26%.

American Century Companies Inc. lifted its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 27.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 306,851 shares of the company's stock after purchasing an additional 66,753 shares during the period. American Century Companies Inc. owned approximately 0.14% of Hess Midstream Partners worth $12,977,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in Hess Midstream Partners in the first quarter valued at approximately $31,000. Farther Finance Advisors LLC boosted its holdings in Hess Midstream Partners by 840.2% during the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $45,000 after purchasing an additional 941 shares during the last quarter. FSC Wealth Advisors LLC acquired a new position in Hess Midstream Partners during the first quarter worth $58,000. IFP Advisors Inc boosted its holdings in Hess Midstream Partners by 20.0% during the first quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock worth $149,000 after purchasing an additional 586 shares during the last quarter. Finally, PFG Investments LLC acquired a new position in Hess Midstream Partners during the first quarter worth $202,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Geurt G. Schoonman sold 3,249 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $39.10, for a total value of $127,035.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO John A. Gatling sold 62,457 shares of the firm's stock in a transaction that occurred 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 disclosure for this sale can be found here.

Hess Midstream Partners Stock Performance

Shares of NYSE HESM traded down $0.39 during mid-day trading on Friday, reaching $41.19. 1,247,035 shares of the company were exchanged, compared to its average volume of 1,472,230. Hess Midstream Partners LP has a twelve month low of $33.59 and a twelve month high of $44.14. The stock has a market capitalization of $8.65 billion, a P/E ratio of 15.25 and a beta of 0.67. The company's 50-day simple moving average is $40.11 and its 200-day simple moving average is $39.51. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26.

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 business had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. During the same period last year, the firm earned $0.59 earnings per share. Hess Midstream Partners's revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, research analysts predict 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a $0.737 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 annualized dividend and a yield of 7.2%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's payout ratio is 109.26%.

Analysts Set New Price Targets

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

Hess Midstream Partners Company 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.