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

Artemis Investment Management LLP raised its position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 131.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,969,448 shares of the company's stock after buying an additional 1,118,245 shares during the quarter. Hess Midstream Partners comprises approximately 1.3% of Artemis Investment Management LLP's portfolio, making the stock its 16th biggest position. Artemis Investment Management LLP owned 0.90% of Hess Midstream Partners worth $83,288,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Oppenheimer Asset Management Inc. increased its stake in Hess Midstream Partners by 2.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company's stock valued at $439,000 after purchasing an additional 298 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Hess Midstream Partners by 5.7% during the fourth quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock valued at $294,000 after acquiring an additional 429 shares in the last quarter. Virtus ETF Advisers LLC increased its position in shares of Hess Midstream Partners by 9.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock valued at $184,000 after acquiring an additional 432 shares in the last quarter. WBI Investments LLC raised its holdings in Hess Midstream Partners by 2.5% in the 4th quarter. WBI Investments LLC now owns 18,309 shares of the company's stock worth $678,000 after acquiring an additional 446 shares during the last quarter. Finally, South Street Advisors LLC raised its holdings in Hess Midstream Partners by 7.8% in the 4th quarter. South Street Advisors LLC now owns 6,250 shares of the company's stock worth $231,000 after acquiring an additional 450 shares during the last quarter. Institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Stock Performance

Hess Midstream Partners stock traded up $0.01 during midday trading on Monday, reaching $38.57. 1,208,861 shares of the company traded hands, compared to its average volume of 1,030,658. The company has a debt-to-equity ratio of 6.92, a current ratio of 0.81 and a quick ratio of 0.81. Hess Midstream Partners LP has a 12 month low of $33.59 and a 12 month high of $44.05. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 15.13 and a beta of 0.63. The business has a 50 day moving average of $38.18 and a two-hundred day moving average of $39.07.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. The firm had revenue of $382.00 million for 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 revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. 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 declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were paid a dividend of $0.7098 per share. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.36%. The ex-dividend date was Thursday, May 8th. Hess Midstream Partners's payout ratio is currently 111.37%.

Insider Buying and Selling at Hess Midstream Partners

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Hess Midstream Partners from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Wells Fargo & Company dropped their price objective on Hess Midstream Partners from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Two 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, Hess Midstream Partners currently has a consensus rating of "Moderate Buy" and an average target price of $42.80.

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.