Fractal Investments LLC Increases Stake in Hess Midstream Partners LP $HESM

Key Points

• Fractal Investments LLC increased its stake in Hess Midstream Partners LP by 23.8% in the second quarter, now holding about 1.6% of the company’s shares.
• Hess Midstream Partners recently raised its quarterly dividend to $0.737 per share, resulting in an annual yield of 7.5%.
• Analysts have adjusted price targets for Hess Midstream Partners, with prices ranging from $41.00 to $48.00, while maintaining a consensus rating of "Hold."

Fractal Investments LLC boosted its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 23.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 291,247 shares of the company's stock after acquiring an additional 56,000 shares during the quarter. Hess Midstream Partners accounts for 1.6% of Fractal Investments LLC's holdings, making the stock its 14th largest position. Fractal Investments LLC owned approximately 0.14% of Hess Midstream Partners worth $11,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Hess Midstream Partners in the second quarter valued at approximately $25,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Hess Midstream Partners by 20.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,741 shares of the company's stock valued at $9,504,000 after buying an additional 37,794 shares in the last quarter. Zimmer Partners LP increased its position in shares of Hess Midstream Partners by 16.4% in the first quarter. Zimmer Partners LP now owns 736,240 shares of the company's stock valued at $31,136,000 after buying an additional 103,924 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of Hess Midstream Partners by 9.8% in the first quarter. McIlrath & Eck LLC now owns 14,124 shares of the company's stock valued at $597,000 after buying an additional 1,259 shares in the last quarter. Finally, Aristeia Capital L.L.C. purchased a new stake in shares of Hess Midstream Partners in the first quarter valued at approximately $346,000. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. UBS Group restated a "neutral" rating and issued a $43.00 price objective (down from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday. Wells Fargo & Company lifted their price target on Hess Midstream Partners from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Citigroup reaffirmed a "neutral" rating and issued a $41.00 price target (down from $42.00) on shares of Hess Midstream Partners in a research note on Thursday. Finally, Morgan Stanley began coverage on Hess Midstream Partners in a research note on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price target on the stock. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Hess Midstream Partners presently has a consensus rating of "Hold" and a consensus target price of $45.17.

Hess Midstream Partners Stock Performance

NYSE HESM opened at $39.31 on Friday. The stock's fifty day moving average is $40.55 and its two-hundred day moving average is $39.51. The firm has a market capitalization of $8.26 billion, a P/E ratio of 14.56 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 released its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.18. The company had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, research analysts anticipate that Hess Midstream Partners LP will post 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 7.5%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 7th. Hess Midstream Partners's dividend payout ratio is presently 108.89%.

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.

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