MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stake in Hess Midstream Partners LP $HESM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Hess Midstream Partners LP by 9.8%, owning 5,503,752 shares worth approximately $232.75 million as of its latest SEC filing.
• Hess Midstream Partners announced a quarterly dividend increase to $0.737, reflecting a robust dividend yield of 7.1%, while the dividend payout ratio is notably high at 109.26%.
• The company reported $0.74 earnings per share for the last quarter, exceeding analysts' expectations and showcasing a revenue increase of 13.3% year-over-year.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,503,752 shares of the company's stock after buying an additional 492,683 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 2.52% of Hess Midstream Partners worth $232,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HESM. Stifel Financial Corp lifted its stake in shares of Hess Midstream Partners by 11.8% in the fourth quarter. Stifel Financial Corp now owns 12,848 shares of the company's stock worth $476,000 after buying an additional 1,358 shares in the last quarter. Northern Trust Corp raised its stake in Hess Midstream Partners by 17.8% during the fourth quarter. Northern Trust Corp now owns 85,550 shares of the company's stock worth $3,168,000 after purchasing an additional 12,939 shares during the period. BNP Paribas Financial Markets acquired a new position in Hess Midstream Partners in the 4th quarter valued at about $977,000. Bank of America Corp DE boosted its holdings in 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 purchasing an additional 36,315 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in Hess Midstream Partners in the 4th quarter valued at about $933,000. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO John A. Gatling sold 62,457 shares of the company'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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. UBS Group reiterated 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. Wall Street Zen upgraded shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.67.

Hess Midstream Partners Trading Down 3.5%

Shares of Hess Midstream Partners stock traded down $1.44 on Wednesday, reaching $39.27. The company had a trading volume of 1,068,522 shares, compared to its average volume of 1,324,767. The firm's 50 day moving average price is $40.48 and its two-hundred day moving average price is $39.53. The firm has a market cap of $8.25 billion, a PE ratio of 14.57 and a beta of 0.68. Hess Midstream Partners LP has a 52-week low of $33.59 and a 52-week high of $44.14. 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 (NYSE:HESM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. The business 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 business's revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Sell-side 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 declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were paid a $0.737 dividend. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date of this dividend 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 payout ratio is presently 108.89%.

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.