Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 15.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 340,828 shares of the company's stock after selling 62,087 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.16% of Hess Midstream Partners worth $14,414,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Swiss National Bank lifted its position in Hess Midstream Partners by 8.9% during the first quarter. Swiss National Bank now owns 222,900 shares of the company's stock valued at $9,426,000 after purchasing an additional 18,200 shares during the period. Fayez Sarofim & Co acquired a new position in Hess Midstream Partners during the first quarter valued at $324,000. Maryland State Retirement & Pension System lifted its position in Hess Midstream Partners by 13.5% during the first quarter. Maryland State Retirement & Pension System now owns 97,602 shares of the company's stock valued at $4,128,000 after purchasing an additional 11,582 shares during the period. Vanguard Group Inc. increased its holdings in Hess Midstream Partners by 6.2% in the first quarter. Vanguard Group Inc. now owns 706,507 shares of the company's stock valued at $29,878,000 after buying an additional 41,405 shares in the last quarter. Finally, Leisure Capital Management increased its holdings in Hess Midstream Partners by 2.0% in the first quarter. Leisure Capital Management now owns 26,681 shares of the company's stock valued at $1,128,000 after buying an additional 533 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.
Hess Midstream Partners Stock Up 0.1%
Shares of HESM traded up $0.05 during midday trading on Friday, reaching $41.52. The stock had a trading volume of 341,138 shares, compared to its average volume of 1,344,250. Hess Midstream Partners LP has a 1-year low of $33.59 and a 1-year high of $44.14. The company's fifty day simple moving average is $39.61 and its two-hundred day simple moving average is $39.48. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 15.37 and a beta of 0.67. The company has a debt-to-equity ratio of 7.26, a current ratio of 0.71 and a quick ratio of 0.71.
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 for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. The business had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The company's revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $0.59 EPS. Equities research analysts expect that Hess Midstream Partners LP will post 2.5 earnings per share for the current year.
Hess Midstream Partners Increases Dividend
The firm also recently disclosed 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 yield of 7.1%. The ex-dividend date of this dividend 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 109.26%.
Analysts Set New Price Targets
HESM has been the subject of a number of recent analyst reports. Morgan Stanley began coverage on shares of 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. Wells Fargo & Company boosted their target price on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Wall Street Zen raised shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.80.
View Our Latest Research Report on HESM
Insiders Place Their Bets
In other Hess Midstream Partners news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $36.86, for a total transaction of $553,729,976.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO John A. Gatling sold 62,457 shares of the firm's stock in a transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 15,088,223 shares of company stock valued at $556,454,599.
About Hess Midstream Partners
(
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.
Read More
Before you consider Hess Midstream Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hess Midstream Partners wasn't on the list.
While Hess Midstream Partners currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
