Hess Midstream Partners LP $HESM Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Hess Midstream Partners LP by 5.9% in the first quarter, owning approximately 0.17% of the company, valued at about $15.69 million.
• Hess Midstream Partners recently declared a quarterly dividend of $0.737, reflecting an annualized dividend of $2.95 and a yield of 7.1%, an increase from the previous dividend.
• Analysts have shown positive sentiment towards Hess Midstream, with Wells Fargo raising the price target to $48.00 and three analysts rating the stock as a "Buy."

Raymond James Financial Inc. increased its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 371,011 shares of the company's stock after purchasing an additional 20,601 shares during the period. Raymond James Financial Inc. owned approximately 0.17% of Hess Midstream Partners worth $15,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Hess Midstream Partners Price Performance

NYSE HESM traded down $0.19 during trading hours on Wednesday, hitting $41.10. 860,526 shares of the company's stock traded hands, compared to its average volume of 1,356,263. Hess Midstream Partners LP has a 52-week low of $33.59 and a 52-week high of $44.14. The company has a market capitalization of $8.63 billion, a PE ratio of 15.22 and a beta of 0.68. 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 firm's 50-day moving average is $40.30 and its 200-day moving average is $39.54.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, beating 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 company had revenue of $414.20 million during the quarter, compared to analysts' expectations of $405.08 million. During the same quarter in the prior year, the company earned $0.59 EPS. Hess Midstream Partners's revenue was up 13.3% compared to the same quarter last year. Equities analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 annualized dividend and a yield of 7.2%. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's dividend payout ratio is currently 109.26%.

Insider Activity

In related news, COO John A. Gatling sold 62,457 shares of the company's stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Geurt G. Schoonman sold 3,249 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $39.10, for a total transaction of $127,035.90. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Wells Fargo & Company lifted their price objective 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. 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 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price 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, August 22nd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $46.20.

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.