Hess Midstream Partners LP $HESM Shares Bought by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its holdings in Hess Midstream Partners by 55.6% during Q1, totaling approximately $8 million in shares.
• Hess Midstream Partners recently raised its quarterly dividend to $0.737, reflecting a 7.2% dividend yield, up from the previous $0.71 quarterly dividend.
• Analysts have boosted their price target for the stock to $48.00, with a consensus rating of "Moderate Buy" and an average target price of $45.80.

Quantbot Technologies LP lifted its position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 55.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,188 shares of the company's stock after purchasing an additional 67,606 shares during the period. Quantbot Technologies LP owned about 0.09% of Hess Midstream Partners worth $8,001,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Northern Trust Corp increased its stake in shares of Hess Midstream Partners by 223.6% in the first quarter. Northern Trust Corp now owns 276,809 shares of the company's stock worth $11,706,000 after buying an additional 191,259 shares during the last quarter. Algert Global LLC increased its stake in shares of Hess Midstream Partners by 31.0% in the first quarter. Algert Global LLC now owns 325,371 shares of the company's stock worth $13,760,000 after buying an additional 77,058 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of Hess Midstream Partners by 5.9% in the first quarter. Raymond James Financial Inc. now owns 371,011 shares of the company's stock worth $15,690,000 after buying an additional 20,601 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Hess Midstream Partners by 27.8% in the first quarter. American Century Companies Inc. now owns 306,851 shares of the company's stock worth $12,977,000 after buying an additional 66,753 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Hess Midstream Partners in the first quarter worth $31,000. 98.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $36.86, for a total value of $553,729,976.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John A. Gatling sold 62,457 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The disclosure for this sale can be found here. Insiders sold 15,088,223 shares of company stock valued at $556,454,599 over the last 90 days.

Hess Midstream Partners Stock Performance

HESM stock traded up $0.0690 during trading on Friday, hitting $41.3890. 648,688 shares of the company's stock traded hands, compared to its average volume of 1,340,354. The stock has a fifty day moving average price of $39.81 and a two-hundred day moving average price of $39.48. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 15.33 and a beta of 0.67. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. 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 released its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. The business had revenue of $414.20 million during 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, equities analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were issued a $0.737 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 annualized dividend and a yield of 7.1%. Hess Midstream Partners's dividend payout ratio is currently 108.89%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Hess Midstream Partners in a research note on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price target for the company. 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. Wells Fargo & Company lifted their price target on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target 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. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.20.

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.