Jump Financial LLC Purchases 134,650 Shares of 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 boosted its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 644.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,552 shares of the company's stock after buying 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 filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of HESM. Alps Advisors Inc. raised its position in Hess Midstream Partners by 31.1% during the first quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock valued at $1,114,605,000 after buying an additional 6,251,664 shares during the period. Artemis Investment Management LLP raised its position in Hess Midstream Partners by 131.4% during the first quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company's stock valued at $83,288,000 after buying an additional 1,118,245 shares during the period. Allianz Asset Management GmbH acquired a new position in Hess Midstream Partners during the first quarter valued at $29,640,000. Zimmer Partners LP acquired a new position in Hess Midstream Partners during the fourth quarter valued at $23,415,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Hess Midstream Partners by 41.0% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,825,485 shares of the company's stock valued at $77,200,000 after buying an additional 530,626 shares during the period. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Partners Stock Down 0.9%

Shares of HESM traded down $0.39 during trading hours on Friday, hitting $41.19. 741,577 shares of the company were exchanged, compared to its average volume of 1,327,495. The company has a market cap of $8.65 billion, a PE ratio of 15.25 and a beta of 0.67. The firm's 50 day moving average is $40.06 and its 200-day moving average is $39.49. Hess Midstream Partners LP has a 52 week low of $33.59 and a 52 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 announced its earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share 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 firm had revenue of $414.20 million during the quarter, compared to the consensus estimate of $405.08 million. During the same quarter in the prior year, the company earned $0.59 EPS. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities research 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 announced 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 annualized dividend and a yield of 7.2%. The ex-dividend date was Thursday, August 7th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's dividend payout ratio is currently 109.26%.

Insider Activity at Hess Midstream Partners

In related news, COO John A. Gatling sold 62,457 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $127,035.90. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Morgan Stanley assumed coverage on Hess Midstream Partners in a research report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 target price on the stock. Wells Fargo & Company upped their target price on Hess Midstream Partners from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Hess Midstream Partners has a consensus 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.