Kingstone Capital Partners Texas LLC Makes New $30.74 Million Investment in Hess Midstream Partners LP $HESM

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new position in Hess Midstream Partners LP, purchasing 798,117 shares valued at approximately $30.7 million during the 2nd quarter.
• Hess Midstream Partners announced an increase in its quarterly dividend to $0.737 per share, resulting in an annualized dividend yield of 8.3%.
• Recent earnings results showed Hess Midstream Partners reported $0.74 EPS for the quarter, exceeding consensus estimates and marking a 13.3% revenue increase year-over-year.

Kingstone Capital Partners Texas LLC purchased a new stake 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 purchased 798,117 shares of the company's stock, valued at approximately $30,735,000. Kingstone Capital Partners Texas LLC owned 0.37% of Hess Midstream Partners at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Hess Midstream Partners in the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hess Midstream Partners during the 1st quarter valued at about $31,000. Farther Finance Advisors LLC lifted its position in Hess Midstream Partners by 840.2% in the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $45,000 after purchasing an additional 941 shares during the period. FSC Wealth Advisors LLC acquired a new stake in Hess Midstream Partners during the 1st quarter valued at $58,000. Finally, IFP Advisors Inc grew its stake in shares of Hess Midstream Partners by 20.0% during the first quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock worth $149,000 after purchasing an additional 586 shares during the period. Hedge funds and other institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Price Performance

Shares of HESM traded down $0.23 during trading hours on Tuesday, reaching $34.91. 1,119,659 shares of the stock traded hands, compared to its average volume of 1,364,470. The company has a market cap of $7.33 billion, a P/E ratio of 12.95 and a beta of 0.68. Hess Midstream Partners LP has a 52-week low of $33.59 and a 52-week high of $44.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. The company's 50-day moving average price is $40.53 and its two-hundred day moving average price is $39.39.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The business had revenue of $414.20 million for the quarter, compared to analysts' expectations of $405.08 million. During the same quarter in the previous year, the company earned $0.59 EPS. The business's quarterly revenue was up 13.3% compared to the same quarter last year. On average, analysts anticipate that Hess Midstream Partners LP will post 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were issued a dividend of $0.737 per share. This represents a $2.95 annualized dividend and a yield of 8.4%. The ex-dividend date was Thursday, August 7th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's payout ratio is currently 109.26%.

Insider Transactions at Hess Midstream Partners

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total value of $2,597,586.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Citigroup decreased their target price on Hess Midstream Partners from $41.00 to $37.00 and set a "neutral" rating on the stock in a research report on Tuesday. UBS Group reissued a "neutral" rating and issued a $43.00 price objective (down from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday, September 10th. JPMorgan Chase & Co. lifted their price target on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Morgan Stanley began coverage on Hess Midstream Partners in a research note on Friday, July 25th. They issued an "equal weight" rating and a $48.00 target price on the stock. Finally, Wall Street Zen upgraded Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $43.00.

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.