Cubist Systematic Strategies LLC Acquires 35,352 Shares of Hess Midstream Partners LP $HESM

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Hess Midstream Partners LP by 960.1%, acquiring an additional 35,352 shares during the first quarter, bringing its total to 39,034 shares valued at $1,651,000.
• Hess Midstream Partners recently raised its quarterly dividend from $0.71 to $0.737, marking a $2.95 annualized dividend with a yield of 7.2%.
• Analysts maintain a Moderate Buy consensus rating for Hess Midstream Partners, with target prices ranging between $46.00 and $48.00 following recent earnings that exceeded expectations.

Cubist Systematic Strategies LLC lifted its stake in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 960.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,034 shares of the company's stock after buying an additional 35,352 shares during the period. Cubist Systematic Strategies LLC's holdings in Hess Midstream Partners were worth $1,651,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new position in Hess Midstream Partners during the 1st quarter valued at about $707,000. Northern Trust Corp increased its holdings in Hess Midstream Partners by 17.8% during the 4th quarter. Northern Trust Corp now owns 85,550 shares of the company's stock valued at $3,168,000 after purchasing an additional 12,939 shares during the period. Financial Sense Advisors Inc. increased its holdings in Hess Midstream Partners by 151.8% during the 1st quarter. Financial Sense Advisors Inc. now owns 352,067 shares of the company's stock valued at $14,889,000 after purchasing an additional 212,266 shares during the period. Wealthstar Advisors LLC purchased a new position in Hess Midstream Partners during the 1st quarter valued at about $670,000. Finally, Texas Yale Capital Corp. increased its holdings in Hess Midstream Partners by 20.1% during the 1st quarter. Texas Yale Capital Corp. now owns 74,000 shares of the company's stock valued at $3,129,000 after purchasing an additional 12,400 shares during the period. Hedge funds and other institutional investors own 98.97% of the company's stock.

Wall Street Analysts Forecast Growth

HESM has been the topic of a number of research analyst reports. UBS Group restated a "neutral" rating and set a $43.00 price target (down previously from $45.00) on shares of Hess Midstream Partners in a report on Wednesday. Wells Fargo & Company boosted their price target on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Citigroup restated a "neutral" rating and set a $41.00 price target (down previously from $42.00) on shares of Hess Midstream Partners in a report on Thursday. Finally, Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $45.17.

Insider Activity at Hess Midstream Partners

In other news, COO John A. Gatling sold 62,457 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hess Midstream Partners Stock Down 1.0%

Shares of HESM traded down $0.40 during mid-day trading on Friday, reaching $39.31. The company had a trading volume of 1,187,485 shares, compared to its average volume of 1,156,179. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a 50-day moving average price of $40.55 and a 200 day moving average price of $39.52. Hess Midstream Partners LP has a 52 week low of $33.59 and a 52 week high of $44.14. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 14.56 and a beta of 0.68.

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. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The firm had revenue of $414.20 million for the quarter, compared to analysts' expectations of $405.08 million. During the same period in the previous year, the firm posted $0.59 EPS. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a $0.737 dividend. 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 7.5%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's payout ratio is presently 108.89%.

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.