Kayne Anderson Capital Advisors LP Raises Stake in Hess Midstream Partners LP (NYSE:HESM)

Kayne Anderson Capital Advisors LP lifted its position in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 10.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,885,110 shares of the company's stock after acquiring an additional 276,779 shares during the quarter. Hess Midstream Partners accounts for 2.7% of Kayne Anderson Capital Advisors LP's portfolio, making the stock its 13th largest position. Kayne Anderson Capital Advisors LP owned about 1.32% of Hess Midstream Partners worth $122,011,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HESM. ProShare Advisors LLC raised its holdings in shares of Hess Midstream Partners by 5.7% in the 4th quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock valued at $294,000 after purchasing an additional 429 shares in the last quarter. Virtus ETF Advisers LLC grew its position in shares of Hess Midstream Partners by 9.5% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock worth $184,000 after buying an additional 432 shares during the last quarter. WBI Investments LLC grew its position in shares of Hess Midstream Partners by 2.5% in the 4th quarter. WBI Investments LLC now owns 18,309 shares of the company's stock worth $678,000 after buying an additional 446 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Hess Midstream Partners by 4.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the company's stock worth $615,000 after buying an additional 570 shares during the last quarter. Finally, IFP Advisors Inc grew its position in shares of Hess Midstream Partners by 20.0% in the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock worth $149,000 after buying an additional 586 shares during the last quarter. Institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Trading Up 0.7%

Shares of HESM traded up $0.26 during mid-day trading on Thursday, reaching $39.22. The stock had a trading volume of 1,102,894 shares, compared to its average volume of 1,267,330. The company has a debt-to-equity ratio of 6.92, a current ratio of 0.81 and a quick ratio of 0.81. Hess Midstream Partners LP has a 52-week low of $33.59 and a 52-week high of $44.05. The business's fifty day moving average is $38.47 and its 200 day moving average is $39.27. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of 15.38 and a beta of 0.63.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $382.00 million during the quarter, compared to analyst estimates of $384.28 million. Hess Midstream Partners had a net margin of 16.43% and a return on equity of 54.89%. Hess Midstream Partners's revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. On average, sell-side analysts predict that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were paid a dividend of $0.7098 per share. This represents a $2.84 annualized dividend and a yield of 7.24%. The ex-dividend date was Thursday, May 8th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.70. Hess Midstream Partners's dividend payout ratio (DPR) is 111.37%.

Insider Activity

In other news, Director Geurt G. Schoonman sold 3,249 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the firm's stock in a transaction that occurred 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 disclosure for this sale can be found here.

Analysts Set New Price Targets

Several analysts have weighed in on HESM shares. JPMorgan Chase & Co. boosted their target price on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Wells Fargo & Company dropped 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 report on Thursday, May 1st.

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.