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

Several other institutional investors have also added to or reduced their stakes in HESM. Caitong International Asset Management Co. Ltd purchased a new stake in Hess Midstream Partners during the 1st quarter valued at $31,000. Farther Finance Advisors LLC increased its stake in shares of Hess Midstream Partners by 840.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $45,000 after acquiring an additional 941 shares in the last quarter. FSC Wealth Advisors LLC bought a new position in shares of Hess Midstream Partners in the 1st quarter worth about $58,000. IFP Advisors Inc increased its stake in shares of Hess Midstream Partners by 20.0% in the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock worth $149,000 after acquiring an additional 586 shares in the last quarter. Finally, PFG Investments LLC bought a new stake in Hess Midstream Partners during the 1st quarter valued at about $202,000. Hedge funds and other institutional investors own 98.97% of the company's stock.

Insider Buying and Selling

In other Hess Midstream Partners 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 transaction of $2,597,586.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen upgraded shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley assumed coverage on shares of Hess Midstream Partners in a research note on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective for the company. Citigroup restated a "neutral" rating and set a $41.00 price objective (down from $42.00) on shares of Hess Midstream Partners in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, UBS Group restated a "neutral" rating and set a $43.00 price objective (down from $45.00) on shares of Hess Midstream Partners in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Hess Midstream Partners has an average rating of "Hold" and a consensus price target of $45.17.

Hess Midstream Partners Stock Performance

Shares of HESM traded down $0.40 on Friday, reaching $39.31. The company's stock had a trading volume of 1,187,485 shares, compared to its average volume of 1,156,179. The company has a debt-to-equity ratio of 7.26, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $8.26 billion, a P/E ratio of 14.56 and a beta of 0.68. The stock's 50 day simple moving average is $40.55 and its two-hundred day simple moving average is $39.52. Hess Midstream Partners LP has a 12-month low of $33.59 and a 12-month high of $44.14.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) 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 the consensus estimate of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The firm's revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. Research 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. 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%. The ex-dividend date was Thursday, August 7th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's dividend payout ratio (DPR) is 108.89%.

Hess Midstream Partners 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.