Hess Midstream Partners LP $HESM Shares Purchased by Maryland State Retirement & Pension System

Key Points

• Maryland State Retirement & Pension System increased its stake in Hess Midstream Partners LP by 21.7% in Q2, owning approximately 118,778 shares worth about $4.57 million.
• Hess Midstream Partners recently increased its quarterly dividend to $0.737 per share, reflecting an annualized yield of 9.0% and a payout ratio of 108.89%.
• The stock has a consensus rating of "Hold"** from analysts, with a price target averaging $42.00, amidst various price adjustments from firms like UBS Group and JPMorgan Chase.

Maryland State Retirement & Pension System boosted its holdings in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 21.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,778 shares of the company's stock after purchasing an additional 21,176 shares during the quarter. Maryland State Retirement & Pension System owned about 0.06% of Hess Midstream Partners worth $4,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HESM. Capital Investment Advisors LLC acquired a new position in Hess Midstream Partners in the first quarter valued at approximately $217,000. Farther Finance Advisors LLC boosted 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 purchasing an additional 941 shares in the last quarter. apricus wealth LLC boosted its holdings in Hess Midstream Partners by 6.8% in the first quarter. apricus wealth LLC now owns 19,750 shares of the company's stock valued at $835,000 after purchasing an additional 1,250 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Hess Midstream Partners by 934.7% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 65,145 shares of the company's stock valued at $2,755,000 after acquiring an additional 58,849 shares during the period. Finally, GraniteShares Advisors LLC boosted its holdings in shares of Hess Midstream Partners by 6.5% in the first quarter. GraniteShares Advisors LLC now owns 70,626 shares of the company's stock valued at $2,987,000 after acquiring an additional 4,280 shares during the period. 98.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on HESM. Morgan Stanley began coverage on Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price objective for the company. UBS Group reissued a "neutral" rating and issued a $43.00 price objective (down from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. Zacks Research raised Hess Midstream Partners from a "hold" rating to a "strong-buy" rating in a report on Monday, September 29th. Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. Finally, JPMorgan Chase & Co. increased their price objective on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $42.00.

Insider Activity at Hess Midstream Partners

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction on 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 document filed with the SEC, which can be accessed through this hyperlink.

Hess Midstream Partners Price Performance

Hess Midstream Partners stock opened at $32.78 on Friday. Hess Midstream Partners LP has a 12 month low of $32.76 and a 12 month high of $44.14. 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 business has a 50 day simple moving average of $39.01 and a 200-day simple moving average of $38.72. The stock has a market capitalization of $6.89 billion, a PE ratio of 12.14 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 (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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. Equities 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were given a dividend of $0.737 per share. This represents a $2.95 annualized dividend and a dividend yield of 9.0%. 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 payout ratio is presently 108.89%.

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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