CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $88.47 Million Position in Hess Midstream Partners LP $HESM

Key Points

• CUSHING ASSET MANAGEMENT LP increased its holdings in Hess Midstream Partners LP by 25.8%, acquiring an additional 471,715 shares during the second quarter, bringing its total ownership to 2,297,200 shares.
• Hess Midstream Partners recently raised its quarterly dividend to $0.737, representing an 8.3% yield, which is a positive change from the previous dividend of $0.71.
• The company's stock has seen a 10.3% decline recently, with a current price of $35.41, despite its earnings report exceeding expectations with $0.74 EPS for the last quarter.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 25.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,297,200 shares of the company's stock after purchasing an additional 471,715 shares during the period. Hess Midstream Partners accounts for 5.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 5th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 1.07% of Hess Midstream Partners worth $88,465,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in HESM. Bank of America Corp DE grew its position in shares of Hess Midstream Partners by 16.2% during the fourth quarter. Bank of America Corp DE now owns 260,314 shares of the company's stock worth $9,639,000 after acquiring an additional 36,315 shares during the last quarter. ProShare Advisors LLC grew its stake in Hess Midstream Partners by 5.7% in the 4th quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock valued at $294,000 after buying an additional 429 shares during the last quarter. California State Teachers Retirement System boosted its stake in Hess Midstream Partners by 12.3% in the fourth quarter. California State Teachers Retirement System now owns 89,624 shares of the company's stock worth $3,319,000 after purchasing an additional 9,808 shares in the last quarter. GAMMA Investing LLC increased its holdings in Hess Midstream Partners by 4,809.7% during the 1st quarter. GAMMA Investing LLC now owns 11,587 shares of the company's stock worth $4,900,000 after purchasing an additional 11,351 shares in the last quarter. Finally, NBC Securities Inc. grew its holdings in Hess Midstream Partners by 107,126.9% in the 1st quarter. NBC Securities Inc. now owns 27,879 shares of the company's stock valued at $1,179,000 after buying an additional 27,853 shares in the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Partners Stock Performance

NYSE:HESM traded down $0.17 during mid-day trading on Monday, hitting $35.20. 2,336,785 shares of the stock were exchanged, compared to its average volume of 1,456,148. The firm's 50-day simple moving average is $40.53 and its 200 day simple moving average is $39.39. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 13.04 and a beta of 0.68. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. Hess Midstream Partners LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.14.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $405.08 million. During the same quarter in the prior year, the company earned $0.59 EPS. The business's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a dividend of $0.737 per share. The ex-dividend date of this dividend was Thursday, August 7th. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.4%. Hess Midstream Partners's payout ratio is currently 109.26%.

Insiders Place Their Bets

In related news, COO John A. Gatling sold 62,457 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup reiterated a "neutral" rating and issued a $41.00 target price (down from $42.00) on shares of Hess Midstream Partners in a research note on Thursday, September 11th. JPMorgan Chase & Co. boosted their target price on Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Wells Fargo & Company cut Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a research report on Friday. Morgan Stanley started coverage on Hess Midstream Partners in a research note on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective on the stock. Finally, Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $43.67.

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.