Jump Financial LLC Grows Stock Position in Hess Midstream Partners LP $HESM

Key Points

• Jump Financial LLC significantly increased its stake in Hess Midstream Partners by 644.2% in the first quarter, now owning approximately 155,552 shares valued at $6.58 million.
• Hess Midstream Partners recently declared a quarterly dividend of $0.737, reflecting a 7.1% yield, an increase from the previous dividend of $0.71.
• Analysts have raised their price targets for Hess Midstream Partners, with Wells Fargo setting a target of $48.00 and several recommending a "buy" rating.

Jump Financial LLC increased its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 644.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,552 shares of the company's stock after acquiring an additional 134,650 shares during the period. Jump Financial LLC owned approximately 0.07% of Hess Midstream Partners worth $6,578,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new position in Hess Midstream Partners during the fourth quarter worth $525,000. Teacher Retirement System of Texas acquired a new position in Hess Midstream Partners during the first quarter worth $707,000. Northern Trust Corp grew its holdings 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 acquiring an additional 12,939 shares during the period. Financial Sense Advisors Inc. grew its holdings in Hess Midstream Partners by 151.8% during the first quarter. Financial Sense Advisors Inc. now owns 352,067 shares of the company's stock worth $14,889,000 after acquiring an additional 212,266 shares during the period. Finally, Bramshill Investments LLC grew its holdings in Hess Midstream Partners by 63.0% during the fourth quarter. Bramshill Investments LLC now owns 43,021 shares of the company's stock worth $1,593,000 after acquiring an additional 16,628 shares during the period. Institutional investors and hedge funds own 98.97% of the company's stock.

Insider Buying and Selling at Hess Midstream Partners

In related news, COO John A. Gatling sold 62,457 shares of the 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Geurt G. Schoonman sold 3,249 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $39.10, for a total value of $127,035.90. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company upped their target price on 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 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. upped their target price on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Finally, Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating and two 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 target price of $46.20.

Hess Midstream Partners Price Performance

Shares of NYSE:HESM traded down $0.39 on Friday, hitting $41.19. The company had a trading volume of 1,247,035 shares, compared to its average volume of 1,472,230. The company has a current ratio of 0.71, a quick 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. The business has a 50 day moving average of $40.11 and a 200 day moving average of $39.51. The company has a market cap of $8.65 billion, a PE ratio of 15.25 and a beta of 0.67.

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, beating the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The business had revenue of $414.20 million for the quarter, compared to the consensus estimate of $405.08 million. During the same period in the prior year, the business earned $0.59 earnings per share. The business's revenue was up 13.3% on a year-over-year basis. As a group, equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a $0.737 dividend. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 annualized dividend and a dividend yield of 7.2%. The ex-dividend date was Thursday, August 7th. Hess Midstream Partners's dividend payout ratio (DPR) is currently 109.26%.

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.