Fractal Investments LLC Buys 56,000 Shares of 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 increased its position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 23.8% during the 2nd quarter, according to its most recent filing 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 period. Hess Midstream Partners comprises 1.6% of Fractal Investments LLC's holdings, making the stock its 14th largest holding. Fractal Investments LLC owned approximately 0.14% of Hess Midstream Partners worth $11,216,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of HESM. Alps Advisors Inc. raised its stake in Hess Midstream Partners by 31.1% during the first quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock worth $1,114,605,000 after acquiring an additional 6,251,664 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Hess Midstream Partners by 10.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,233,773 shares of the company's stock valued at $305,916,000 after purchasing an additional 655,062 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Hess Midstream Partners by 9.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,503,752 shares of the company's stock valued at $232,754,000 after buying an additional 492,683 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its stake in shares of Hess Midstream Partners by 10.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 2,885,110 shares of the company's stock worth $122,011,000 after buying an additional 276,779 shares during the last quarter. Finally, Artemis Investment Management LLP grew its stake in shares of 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 worth $83,288,000 after buying an additional 1,118,245 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on HESM. Wells Fargo & Company downgraded Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Morgan Stanley began coverage on Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price objective for the company. UBS Group reissued a "neutral" rating and issued a $43.00 price target (down previously from $45.00) on shares of Hess Midstream Partners in a research note on Wednesday, September 10th. Finally, Citigroup restated a "neutral" rating and issued a $41.00 price target (down previously from $42.00) on shares of Hess Midstream Partners in a research report on Thursday, September 11th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $43.67.

Hess Midstream Partners Stock Performance

Shares of HESM stock traded down $3.91 during trading hours on Friday, hitting $35.57. 2,876,616 shares of the company were exchanged, compared to its average volume of 1,336,900. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 13.20 and a beta of 0.68. The firm has a fifty day simple moving average of $40.66 and a 200 day simple moving average of $39.47. Hess Midstream Partners LP has a 52-week low of $33.59 and a 52-week high of $44.14.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 18.52% and a return on equity of 60.37%. The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Research 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 business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a $0.737 dividend. The ex-dividend date was Thursday, August 7th. This represents a $2.95 annualized dividend and a yield of 8.3%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's dividend payout ratio is 108.89%.

Insider Activity

In other news, COO John A. Gatling sold 62,457 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total value of $2,597,586.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.