Jupiter Topco LLC Takes $2.12 Million Position in Hess Midstream Partners LP $HESM

Key Points

• Jupiter Topco LLC acquired 56,416 shares of Hess Midstream Partners worth approximately $2.12 million, while institutional investors collectively own 98.97% of the stock.
• Hess Midstream reported quarterly EPS of $0.75, beating estimates of $0.67, although revenue declined 3.7% year over year to $399 million.
• The partnership increased its quarterly dividend to $0.7888, equating to an annualized payout of $3.16 and a 7.9% yield; analysts maintain a consensus “Reduce” rating with a $37.67 price target.

Jupiter Topco LLC acquired a new position in Hess Midstream Partners LP (NYSE:HESM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 56,416 shares of the company's stock, valued at approximately $2,120,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in HESM. Alps Advisors Inc. lifted its stake in shares of Hess Midstream Partners by 3.4% during the fourth quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company's stock valued at $1,045,457,000 after acquiring an additional 1,007,846 shares during the period. Goldman Sachs Group Inc. raised its holdings in Hess Midstream Partners by 3.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company's stock worth $313,301,000 after purchasing an additional 330,802 shares during the last quarter. Invesco Ltd. lifted its position in Hess Midstream Partners by 10.7% during the 4th quarter. Invesco Ltd. now owns 6,619,868 shares of the company's stock valued at $228,385,000 after purchasing an additional 641,092 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Hess Midstream Partners by 67.5% in the 1st quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company's stock valued at $145,840,000 after purchasing an additional 1,512,007 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Hess Midstream Partners during the fourth quarter worth approximately $92,288,000. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Partners Price Performance

HESM opened at $39.85 on Friday. The stock has a market cap of $8.22 billion, a P/E ratio of 13.74 and a beta of 0.52. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $41.50. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The company has a fifty day simple moving average of $39.62 and a 200 day simple moving average of $38.98.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The company had revenue of $399.00 million during the quarter, compared to the consensus estimate of $395.96 million. During the same period in the prior year, the company earned $0.74 earnings per share. The company's revenue for the quarter was down 3.7% compared to the same quarter last year. On average, research analysts expect that Hess Midstream Partners LP will post 2.94 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, August 6th were issued a $0.7888 dividend. This represents a $3.16 annualized dividend and a dividend yield of 7.9%. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.78. The ex-dividend date was Thursday, August 6th. Hess Midstream Partners's dividend payout ratio is currently 108.97%.

Wall Street Analysts Forecast Growth

HESM has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. Morgan Stanley reiterated an "underweight" rating and issued a $39.00 price objective on shares of Hess Midstream Partners in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $37.67.

About Hess Midstream Partners

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.

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