Hess Midstream Partners LP $HESM Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in Hess Midstream Partners by 64.2% during the first quarter, now owning 17,796 shares valued at $753,000.
• Hess Midstream recently declared a quarterly dividend of $0.737 per share, representing a 7.2% annual yield, up from the previous dividend of $0.71.
• The company's stock has a consensus rating of "Moderate Buy" from analysts, with an average price target of $46.20.

Russell Investments Group Ltd. raised its stake in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 64.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,796 shares of the company's stock after purchasing an additional 6,958 shares during the quarter. Russell Investments Group Ltd.'s holdings in Hess Midstream Partners were worth $753,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of HESM. Farther Finance Advisors LLC grew 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 valued at $45,000 after purchasing an additional 941 shares during the last quarter. FSC Wealth Advisors LLC purchased a new position in shares of Hess Midstream Partners in the 1st quarter valued at approximately $58,000. IFP Advisors Inc grew 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 valued at $149,000 after purchasing an additional 586 shares during the last quarter. PFG Investments LLC purchased a new position in shares of Hess Midstream Partners in the 1st quarter valued at approximately $202,000. Finally, Keystone Wealth Services LLC purchased a new position in shares of Hess Midstream Partners in the 1st quarter valued at approximately $211,000. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Geurt G. Schoonman sold 3,249 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $39.10, for a total value of $127,035.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. raised their price target on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Wells Fargo & Company raised their price target 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, Morgan Stanley assumed coverage on Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price target for the company. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.20.

Hess Midstream Partners Price Performance

HESM stock traded up $0.15 during midday trading on Thursday, hitting $41.24. 1,352,072 shares of the stock were exchanged, compared to its average volume of 1,183,364. The stock's 50-day moving average price is $40.35 and its 200-day moving average price is $39.55. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 15.27 and a beta of 0.68. Hess Midstream Partners LP has a fifty-two week low of $33.59 and a fifty-two 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 issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. The firm had revenue of $414.20 million during the quarter, compared to analysts' expectations of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.Hess Midstream Partners's revenue was up 13.3% on a year-over-year basis. During the same period 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 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 issued a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 7.1%. 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. Hess Midstream Partners's payout ratio is presently 109.26%.

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.