Northern Trust Corp Has $11.71 Million Position in Hess Midstream Partners LP $HESM

Key Points

• Northern Trust Corp raised its ownership in Hess Midstream Partners by 223.6% during the first quarter, holding a total of 276,809 shares valued at approximately $11.71 million.
• Hess Midstream Partners reported a quarterly earnings per share of $0.74, exceeding analyst expectations of $0.56, with a year-over-year revenue increase of 13.3%.
• The company recently declared a quarterly dividend of $0.737 per share, marking an increase from the previous dividend, with a current yield of 7.1%.

Northern Trust Corp boosted its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 223.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,809 shares of the company's stock after buying an additional 191,259 shares during the period. Northern Trust Corp owned about 0.13% of Hess Midstream Partners worth $11,706,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HESM. Caitong International Asset Management Co. Ltd acquired a new stake in Hess Midstream Partners during the first quarter worth $31,000. Farther Finance Advisors LLC boosted its stake in Hess Midstream Partners by 840.2% during the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $45,000 after buying an additional 941 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in Hess Midstream Partners during the first quarter worth $58,000. IFP Advisors Inc boosted its stake in 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 buying an additional 586 shares in the last quarter. Finally, PFG Investments LLC bought a new position in shares of Hess Midstream Partners during the first quarter valued at $202,000. Institutional investors and hedge funds own 98.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Wells Fargo & Company lifted their price objective on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, August 1st. UBS Group reissued a "neutral" rating and set a $43.00 price objective (down from $45.00) on shares of Hess Midstream Partners in a report on Wednesday. Morgan Stanley assumed coverage on Hess Midstream Partners in a report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Hess Midstream Partners has a consensus rating of "Moderate Buy" and a consensus target price of $45.67.

Insiders Place Their Bets

In other news, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hess Midstream Partners Price Performance

Shares of Hess Midstream Partners stock traded down $1.14 during trading on Wednesday, reaching $39.56. The company's stock had a trading volume of 2,399,187 shares, compared to its average volume of 1,109,279. The stock has a 50-day moving average price of $40.50 and a two-hundred day moving average price of $39.53. 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 one year low of $33.59 and a one year high of $44.14. The stock has a market capitalization of $8.31 billion, a P/E ratio of 14.65 and a beta of 0.68.

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

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a dividend of $0.737 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 annualized dividend and a yield of 7.5%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's dividend payout ratio (DPR) is presently 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.