Goldman Sachs Group Inc. Purchases 655,062 Shares of Hess Midstream Partners LP $HESM

Key Points

• Goldman Sachs Group Inc. increased its holdings in Hess Midstream Partners by 10.0%, owning approximately 3.36% of the company, valued at $305.9 million.
• Hess Midstream Partners reported an EPS of $0.74, exceeding analyst estimates, with quarterly revenue of $414.2 million—a 13.3% year-over-year increase.
• The company recently raised its quarterly dividend to $0.737 per share, resulting in an annualized dividend yield of 7.3%.

Goldman Sachs Group Inc. lifted its holdings in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,233,773 shares of the company's stock after acquiring an additional 655,062 shares during the period. Goldman Sachs Group Inc. owned approximately 3.36% of Hess Midstream Partners worth $305,916,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Stifel Financial Corp grew its stake in shares of Hess Midstream Partners by 11.8% in the 4th quarter. Stifel Financial Corp now owns 12,848 shares of the company's stock valued at $476,000 after buying an additional 1,358 shares during the period. Northern Trust Corp grew its stake in shares of Hess Midstream Partners by 17.8% in the 4th quarter. Northern Trust Corp now owns 85,550 shares of the company's stock valued at $3,168,000 after buying an additional 12,939 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Hess Midstream Partners in the 4th quarter valued at about $977,000. Bank of America Corp DE grew its stake in shares of Hess Midstream Partners by 16.2% in the 4th quarter. Bank of America Corp DE now owns 260,314 shares of the company's stock valued at $9,639,000 after buying an additional 36,315 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of Hess Midstream Partners by 17.6% in the 4th quarter. Cetera Investment Advisers now owns 33,915 shares of the company's stock valued at $1,256,000 after buying an additional 5,072 shares during the period. 98.97% of the stock is owned by institutional investors.

Hess Midstream Partners Stock Up 0.1%

Shares of HESM traded up $0.03 on Monday, hitting $39.32. 170,467 shares of the stock traded hands, compared to its average volume of 1,328,649. The company has a market capitalization of $8.26 billion, a PE 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. The business has a 50 day simple moving average of $40.55 and a 200 day simple moving average of $39.50. Hess Midstream Partners LP has a one year low of $33.59 and a one year high of $44.14.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its 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 net margin of 18.52% and a return on equity of 60.37%. The business had revenue of $414.20 million during the quarter, compared to the consensus estimate of $405.08 million. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm's revenue was up 13.3% on a year-over-year basis. As a group, equities analysts forecast 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 Thursday, August 14th. Investors of record on Thursday, August 7th were paid a dividend of $0.737 per share. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 7th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 7.5%. Hess Midstream Partners's dividend payout ratio is presently 109.26%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Citigroup reissued a "neutral" rating and set a $41.00 price objective (down from $42.00) on shares of Hess Midstream Partners in a report on Thursday. Wells Fargo & Company upped their target price on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group reaffirmed a "neutral" rating and issued a $43.00 target price (down from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Hess Midstream Partners has a consensus rating of "Hold" and an average target price of $45.17.

Insider Buying and Selling at Hess Midstream Partners

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 shares were sold at an average price of $41.59, for a total value of $2,597,586.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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.