Kestra Private Wealth Services LLC Invests $1.02 Million in Hess Midstream Partners LP (NYSE:HESM)

Kestra Private Wealth Services LLC acquired a new stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,206 shares of the company's stock, valued at approximately $1,024,000.

Several other hedge funds have also recently modified their holdings of HESM. Alps Advisors Inc. increased its holdings in shares of Hess Midstream Partners by 31.1% during the first quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock valued at $1,114,605,000 after acquiring an additional 6,251,664 shares in the last quarter. Artemis Investment Management LLP boosted its position in Hess Midstream Partners by 131.4% in the first quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company's stock valued at $83,288,000 after buying an additional 1,118,245 shares during the last quarter. Zimmer Partners LP purchased a new stake in Hess Midstream Partners in the fourth quarter valued at approximately $23,415,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Hess Midstream Partners by 41.0% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,825,485 shares of the company's stock valued at $77,200,000 after buying an additional 530,626 shares during the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new stake in Hess Midstream Partners in the fourth quarter valued at approximately $19,642,000. Institutional investors and hedge funds 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 stock in a transaction on Friday, May 30th. The stock was sold at an average price of $36.86, for a total value of $553,729,976.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Geurt G. Schoonman sold 3,249 shares of the stock in a transaction on Monday, June 9th. The shares were 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.

Analyst Upgrades and Downgrades

HESM has been the topic of a number of recent research reports. Wells Fargo & Company upgraded Hess Midstream Partners from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $41.00 to $47.00 in a research report on Friday. Morgan Stanley began coverage on Hess Midstream Partners in a research report on Friday. They issued an "equal weight" rating and a $48.00 target price on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Hess Midstream Partners presently has an average rating of "Moderate Buy" and an average price target of $45.60.

Hess Midstream Partners Stock Performance

Hess Midstream Partners stock traded up $0.82 during mid-day trading on Friday, hitting $40.29. The company had a trading volume of 2,852,094 shares, compared to its average volume of 1,430,931. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 6.92. Hess Midstream Partners LP has a 12-month low of $33.59 and a 12-month high of $44.05. The company's fifty day moving average is $38.51 and its 200-day moving average is $39.30. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of 15.80 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. Hess Midstream Partners had a return on equity of 54.89% and a net margin of 16.43%. The firm had revenue of $382.00 million for the quarter, compared to analyst estimates of $384.28 million. During the same quarter last year, the firm posted $0.60 EPS. The business's revenue was up 7.4% on a year-over-year basis. Equities research analysts predict that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were paid a $0.7098 dividend. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 7.05%. The ex-dividend date of this dividend was Thursday, May 8th. Hess Midstream Partners's dividend payout ratio is currently 111.37%.

About Hess Midstream Partners

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.