Trexquant Investment LP trimmed its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 21.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,031 shares of the company's stock after selling 48,000 shares during the quarter. Trexquant Investment LP owned approximately 0.08% of Hess Midstream Partners worth $7,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FORA Capital LLC acquired a new stake in shares of Hess Midstream Partners during the 1st quarter valued at about $221,000. Jump Financial LLC boosted its holdings in shares of Hess Midstream Partners by 644.2% in the 1st quarter. Jump Financial LLC now owns 155,552 shares of the company's stock valued at $6,578,000 after purchasing an additional 134,650 shares during the last quarter. Quantbot Technologies LP grew its holdings in Hess Midstream Partners by 55.6% during the 1st quarter. Quantbot Technologies LP now owns 189,188 shares of the company's stock worth $8,001,000 after acquiring an additional 67,606 shares in the last quarter. Northern Trust Corp boosted its stake in Hess Midstream Partners by 223.6% during the 1st quarter. Northern Trust Corp now owns 276,809 shares of the company's stock valued at $11,706,000 after purchasing an additional 191,259 shares during the period. Finally, Algert Global LLC lifted its stake in Hess Midstream Partners by 31.0% during the first quarter. Algert Global LLC now owns 325,371 shares of the company's stock valued at $13,760,000 after purchasing an additional 77,058 shares during the last quarter. 98.97% of the stock is owned by institutional investors.
Hess Midstream Partners Stock Down 1.6%
Shares of HESM stock traded down $0.65 on Friday, reaching $40.63. 370,812 shares of the stock were exchanged, compared to its average volume of 1,322,957. The business's 50 day moving average price is $40.35 and its 200 day moving average price is $39.55. Hess Midstream Partners LP has a twelve month low of $33.59 and a twelve month high of $44.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 15.05 and a beta of 0.68.
Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 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 business had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. During the same period in the prior year, the business earned $0.59 earnings per share. The company's quarterly revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts expect 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. Investors of record on Thursday, August 7th were given a dividend of $0.737 per share. The ex-dividend date of this dividend was Thursday, August 7th. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 dividend on an annualized basis and a yield of 7.3%. Hess Midstream Partners's payout ratio is presently 109.26%.
Insiders Place Their Bets
In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the 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 document filed with the SEC, which is accessible through this link. Also, Director Geurt G. Schoonman sold 3,249 shares of the firm's stock in a transaction 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 Ratings Changes
A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Morgan Stanley initiated coverage on Hess Midstream Partners in a research report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price target for the company. Finally, Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.20.
Check Out Our Latest Report on HESM
Hess Midstream Partners Profile
(
Free Report)
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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