Hess Midstream Partners LP $HESM Shares Bought by Hardy Reed LLC

Key Points

• Hardy Reed LLC increased its holdings in Hess Midstream Partners LP by 123.5% during the second quarter, now owning 20,090 shares valued at approximately $774,000.
• The company reported a quarterly earnings per share of $0.74, exceeding estimates, with a year-over-year revenue growth of 13.3% to $414.20 million.
• Hess Midstream Partners increased its quarterly dividend to $0.737 per share, reflecting an annual yield of 8.9%, despite a reported dividend payout ratio of 108.89%.

Hardy Reed LLC lifted its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 123.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,090 shares of the company's stock after acquiring an additional 11,100 shares during the quarter. Hardy Reed LLC's holdings in Hess Midstream Partners were worth $774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Leisure Capital Management boosted its stake in shares of Hess Midstream Partners by 2.0% in the first quarter. Leisure Capital Management now owns 26,681 shares of the company's stock valued at $1,128,000 after purchasing an additional 533 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Hess Midstream Partners by 4.1% during the first quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the company's stock worth $615,000 after acquiring an additional 570 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Hess Midstream Partners by 20.0% in the first 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. Resona Asset Management Co. Ltd. boosted its holdings in Hess Midstream Partners by 3.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 19,215 shares of the company's stock valued at $813,000 after purchasing an additional 593 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Hess Midstream Partners in the second quarter valued at about $25,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the firm'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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hess Midstream Partners Trading Down 3.2%

NYSE HESM opened at $33.30 on Tuesday. 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 LP has a one year low of $33.28 and a one year high of $44.14. The company has a 50-day simple moving average of $39.57 and a 200-day simple moving average of $38.87. The firm has a market capitalization of $7.00 billion, a PE ratio of 12.33 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. Hess Midstream Partners's quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts forecast 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 disclosed 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 represents a $2.95 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date was Thursday, August 7th. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's dividend payout ratio (DPR) is currently 108.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Wells Fargo & Company cut shares of Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a report on Friday, September 19th. Morgan Stanley started coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective for the company. Zacks Research upgraded shares of Hess Midstream Partners from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 29th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Hess Midstream Partners in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $42.00.

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.

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