HighTower Advisors LLC Raises Stock Holdings in Hess Midstream Partners LP $HESM

Key Points

• HighTower Advisors LLC increased its holdings in Hess Midstream Partners LP by 33.6% during Q1, acquiring an additional 8,792 shares and reaching a total of 34,997 shares valued at approximately $1.48 million.
• Hess Midstream Partners recently increased its dividend from $0.71 to $0.737 per share, resulting in an annualized yield of 7.1% and a dividend payout ratio of 109.26%.
• Analysts have generally shown optimism, with a consensus rating of "Moderate Buy" and an average price target of $46.20 for the stock, following upgrades from firms like Wells Fargo and JPMorgan Chase.

HighTower Advisors LLC increased its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 33.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,997 shares of the company's stock after buying an additional 8,792 shares during the period. HighTower Advisors LLC's holdings in Hess Midstream Partners were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HESM. CANADA LIFE ASSURANCE Co lifted its position in shares of Hess Midstream Partners by 25.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 13,150 shares of the company's stock valued at $486,000 after buying an additional 2,701 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Hess Midstream Partners by 6.8% during the 4th quarter. MML Investors Services LLC now owns 81,447 shares of the company's stock valued at $3,016,000 after buying an additional 5,183 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Hess Midstream Partners by 156.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,479 shares of the company's stock valued at $573,000 after buying an additional 9,435 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Hess Midstream Partners by 11.8% during the 4th quarter. Stifel Financial Corp now owns 12,848 shares of the company's stock valued at $476,000 after buying an additional 1,358 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Hess Midstream Partners during the 4th quarter valued at approximately $525,000. Hedge funds and other institutional investors own 98.97% of the company's stock.

Insider Buying and Selling at Hess Midstream Partners

In other news, COO John A. Gatling sold 62,457 shares of Hess Midstream Partners 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream Partners stock in a transaction on 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.

Hess Midstream Partners Price Performance

NYSE HESM traded down $0.39 during mid-day trading on Friday, hitting $41.19. The stock had a trading volume of 1,247,035 shares, compared to its average volume of 1,472,230. The firm's 50 day moving average is $40.11 and its 200 day moving average is $39.51. Hess Midstream Partners LP has a twelve month low of $33.59 and a twelve 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 stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 15.25 and a beta of 0.67.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its quarterly earnings data 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 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 period in the prior year, the company earned $0.59 EPS. The firm's revenue was up 13.3% compared to the same quarter last year. Equities research analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were issued a dividend of $0.737 per share. The ex-dividend date was Thursday, August 7th. This represents a $2.95 annualized dividend and a dividend yield of 7.2%. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's payout ratio is presently 109.26%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Hess Midstream Partners in a research report on Friday, July 25th. They set an "equal weight" rating and a $48.00 target price on the stock. Wall Street Zen upgraded Hess Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. increased their target price on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Finally, Wells Fargo & Company increased their price objective on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Hess Midstream Partners has a consensus rating of "Moderate Buy" and an average target price 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.