Hess Midstream Partners LP (NYSE:HESM) Position Lifted by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 41.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,825,485 shares of the company's stock after buying an additional 530,626 shares during the quarter. Hess Midstream Partners accounts for approximately 4.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 9th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.84% of Hess Midstream Partners worth $77,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Artemis Investment Management LLP grew its position in Hess Midstream Partners by 131.4% during the first quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company's stock valued at $83,288,000 after buying an additional 1,118,245 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Hess Midstream Partners during the 1st quarter valued at about $317,000. Oppenheimer & Co. Inc. bought a new stake in Hess Midstream Partners in the first quarter worth $226,000. Oppenheimer Asset Management Inc. grew its position in Hess Midstream Partners by 22.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 14,507 shares of the company's stock worth $614,000 after acquiring an additional 2,650 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Hess Midstream Partners by 1.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 93,097 shares of the company's stock valued at $3,937,000 after acquiring an additional 1,356 shares during the period. Institutional investors own 98.97% of the company's stock.

Insiders Place Their Bets

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

Hess Midstream Partners Stock Down 1.5%

Shares of HESM stock traded down $0.57 during mid-day trading on Tuesday, hitting $37.94. The stock had a trading volume of 1,370,336 shares, compared to its average volume of 1,032,013. The company has a debt-to-equity ratio of 6.92, a current ratio of 0.81 and a quick ratio of 0.81. The firm's 50-day moving average is $38.22 and its two-hundred day moving average is $39.08. The firm has a market capitalization of $8.18 billion, a P/E ratio of 14.88 and a beta of 0.63. Hess Midstream Partners LP has a 12-month low of $33.59 and a 12-month high of $44.05.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The business 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 business's revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $0.60 EPS. On average, analysts predict that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were given a $0.7098 dividend. This represents a $2.84 annualized dividend and a dividend yield of 7.48%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.70. The ex-dividend date was Thursday, May 8th. Hess Midstream Partners's dividend payout ratio is presently 111.37%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HESM. JPMorgan Chase & Co. raised their price target on Hess Midstream Partners from $39.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Wells Fargo & Company lowered their target price on shares of 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Hess Midstream Partners presently has a consensus rating of "Moderate Buy" and an average target price of $42.80.

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.