Artemis Investment Management LLP Purchases 1,118,245 Shares of Hess Midstream Partners LP (NYSE:HESM)

Artemis Investment Management LLP increased its position in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 131.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,969,448 shares of the company's stock after purchasing an additional 1,118,245 shares during the quarter. Hess Midstream Partners makes up 1.3% of Artemis Investment Management LLP's holdings, making the stock its 16th largest position. Artemis Investment Management LLP owned about 0.90% of Hess Midstream Partners worth $83,288,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its position 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 period. Steward Partners Investment Advisory LLC grew its stake in Hess Midstream Partners by 77.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock valued at $49,000 after buying an additional 579 shares during the last quarter. FSC Wealth Advisors LLC bought a new position in Hess Midstream Partners in the 1st quarter valued at about $58,000. US Bancorp DE raised its holdings in Hess Midstream Partners by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after acquiring an additional 510 shares during the period. Finally, IFP Advisors Inc lifted its position in Hess Midstream Partners by 33.3% during the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock worth $109,000 after acquiring an additional 733 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on HESM. Wells Fargo & Company reduced their price target on Hess Midstream Partners from $42.00 to $41.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $42.80.

Hess Midstream Partners Stock Up 2.9%

Shares of NYSE HESM opened at $38.87 on Friday. The stock has a market capitalization of $8.37 billion, a P/E ratio of 15.24 and a beta of 0.63. The stock's fifty day moving average is $38.16 and its 200 day moving average is $39.01. Hess Midstream Partners LP has a 52 week low of $33.59 and a 52 week high of $44.05. The company has a debt-to-equity ratio of 6.92, a quick ratio of 0.81 and a current ratio of 0.81.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. Hess Midstream Partners had a net margin of 16.43% and a return on equity of 54.89%. The firm had revenue of $382.00 million for the quarter, compared to analyst estimates of $384.28 million. During the same period last year, the firm earned $0.60 EPS. The business's quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were paid a $0.7098 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 7.31%. Hess Midstream Partners's dividend payout ratio (DPR) is 111.37%.

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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