Hess Midstream Partners LP (NYSE:HESM) Stake Boosted by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System increased its stake in Hess Midstream Partners LP by 13.5%, holding shares worth approximately $4.13 million as of the latest SEC filing.
• Hess Midstream has declared a quarterly dividend of $0.737, representing a yield of 7.2% and an increase from the previous dividend of $0.71.
• Analysts have positively rated Hess Midstream, with price targets ranging from $48.00 and a consensus rating of "Moderate Buy", suggesting strong market confidence.

Maryland State Retirement & Pension System raised its stake in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 13.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,602 shares of the company's stock after acquiring an additional 11,582 shares during the quarter. Maryland State Retirement & Pension System's holdings in Hess Midstream Partners were worth $4,128,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Alps Advisors Inc. lifted its holdings in shares of Hess Midstream Partners by 31.1% during the 1st quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock worth $1,114,605,000 after acquiring an additional 6,251,664 shares during the period. Tortoise Capital Advisors L.L.C. grew its position in Hess Midstream Partners by 1.1% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company's stock valued at $280,728,000 after acquiring an additional 83,943 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Hess Midstream Partners by 11.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company's stock valued at $185,560,000 after acquiring an additional 496,464 shares during the period. Invesco Ltd. grew its position in Hess Midstream Partners by 4.9% during the fourth quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock valued at $151,490,000 after acquiring an additional 191,175 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in Hess Midstream Partners by 5.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company's stock valued at $122,553,000 after acquiring an additional 165,933 shares during the period. 98.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hess Midstream Partners

In related news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $36.86, for a total value of $553,729,976.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Geurt G. Schoonman sold 3,249 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was 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.

Analysts Set New Price Targets

HESM has been the subject of a number of research reports. Morgan Stanley initiated coverage on Hess Midstream Partners in a research report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price target for the company. Wells Fargo & Company boosted their price target on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $45.80.

Hess Midstream Partners Stock Up 0.1%

NYSE:HESM traded up $0.03 during trading hours on Tuesday, hitting $41.54. The stock had a trading volume of 564,784 shares, compared to its average volume of 1,340,377. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. Hess Midstream Partners LP has a 1-year low of $33.59 and a 1-year high of $44.14. The business has a 50 day simple moving average of $39.38 and a two-hundred day simple moving average of $39.44. The company has a market cap of $8.95 billion, a PE ratio of 15.38 and a beta of 0.67.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. The firm had revenue of $414.20 million during the quarter, compared to the consensus estimate of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%. Hess Midstream Partners's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 earnings per share. Analysts predict that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be issued a $0.737 dividend. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Thursday, August 7th. Hess Midstream Partners's dividend payout ratio (DPR) is currently 109.26%.

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.