Jennison Associates LLC Grows Stock Holdings in Hess Midstream Partners LP (NYSE:HESM)

Jennison Associates LLC raised its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 599,009 shares of the company's stock after purchasing an additional 11,513 shares during the period. Jennison Associates LLC owned 0.27% of Hess Midstream Partners worth $25,332,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hsbc Holdings PLC purchased a new stake in Hess Midstream Partners in the 4th quarter worth about $525,000. Envestnet Asset Management Inc. increased its position in shares of Hess Midstream Partners by 2.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 120,180 shares of the company's stock worth $4,450,000 after acquiring an additional 3,412 shares during the period. Northern Trust Corp increased its position in shares of Hess Midstream Partners by 17.8% during the fourth quarter. Northern Trust Corp now owns 85,550 shares of the company's stock worth $3,168,000 after acquiring an additional 12,939 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Hess Midstream Partners during the first quarter worth approximately $707,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Hess Midstream Partners during the fourth quarter worth approximately $1,540,000. Institutional investors own 98.97% of the company's stock.

Insider Buying and Selling at Hess Midstream Partners

In related news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $36.86, for a total value of $553,729,976.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Geurt G. Schoonman sold 3,249 shares of the firm's stock in a transaction dated 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.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HESM shares. JPMorgan Chase & Co. increased their price objective on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Wells Fargo & Company lowered their target price on shares of Hess Midstream Partners from $42.00 to $41.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st.

Hess Midstream Partners Trading Down 0.8%

Shares of NYSE:HESM traded down $0.33 during mid-day trading on Wednesday, reaching $39.06. 459,382 shares of the company were exchanged, compared to its average volume of 1,258,489. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 15.32 and a beta of 0.63. Hess Midstream Partners LP has a 1 year low of $33.59 and a 1 year high of $44.05. The company has a debt-to-equity ratio of 6.92, a current ratio of 0.81 and a quick ratio of 0.81. The firm's 50-day simple moving average is $38.47 and its 200 day simple moving average is $39.27.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. Hess Midstream Partners had a net margin of 16.43% and a return on equity of 54.89%. The company had revenue of $382.00 million for the quarter, compared to the consensus estimate of $384.28 million. During the same period in the prior year, the firm posted $0.60 EPS. The company's quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were given a $0.7098 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.27%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, May 8th. Hess Midstream Partners's dividend payout ratio (DPR) is 111.37%.

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.