Maryland State Retirement & Pension System Has $4.13 Million Stock Holdings in Hess Midstream Partners LP (NYSE:HESM)

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 boosted its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 13.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,602 shares of the company's stock after purchasing an additional 11,582 shares during the period. Maryland State Retirement & Pension System's holdings in Hess Midstream Partners were worth $4,128,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Alps Advisors Inc. boosted its position in 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 purchasing an additional 6,251,664 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in shares of Hess Midstream Partners by 1.1% in 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 buying an additional 83,943 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hess Midstream Partners by 11.0% in 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 buying an additional 496,464 shares during the last quarter. Invesco Ltd. lifted its position in shares of Hess Midstream Partners by 4.9% in the fourth quarter. Invesco Ltd. now owns 4,091,011 shares of the company's stock valued at $151,490,000 after buying an additional 191,175 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in shares of Hess Midstream Partners by 5.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 3,309,547 shares of the company's stock valued at $122,553,000 after buying an additional 165,933 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Partners Price Performance

Hess Midstream Partners stock opened at $40.98 on Friday. The stock's fifty day moving average price is $39.21 and its two-hundred day moving average price is $39.45. Hess Midstream Partners LP has a one year low of $33.59 and a one year high of $44.14. The company has a debt-to-equity ratio of 6.92, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $8.83 billion, a PE ratio of 15.18 and a beta of 0.67.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a return on equity of 61.46% and a net margin of 18.52%. The firm had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. During the same quarter last year, the company earned $0.59 EPS. The company's revenue was up 13.3% on a year-over-year basis. As a group, research analysts expect that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th will be paid a $0.737 dividend. This represents a $2.95 annualized dividend and a dividend yield of 7.2%. The ex-dividend date is Thursday, August 7th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's dividend payout ratio is 105.19%.

Insider Buying and Selling at Hess Midstream Partners

In related news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $36.86, for a total transaction of $553,729,976.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Geurt G. Schoonman sold 3,249 shares of the firm's 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.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Hess Midstream Partners in a research report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price objective for the company. Wells Fargo & Company lifted their price target on Hess Midstream Partners from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $45.80.

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.

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