Penserra Capital Management LLC Invests $319,000 in Hess Midstream Partners LP (NYSE:HESM)

Penserra Capital Management LLC bought a new position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,559 shares of the company's stock, valued at approximately $319,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in shares of Hess Midstream Partners during the 4th quarter worth about $525,000. Envestnet Asset Management Inc. grew its stake in Hess Midstream Partners by 2.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 120,180 shares of the company's stock worth $4,450,000 after buying an additional 3,412 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Hess Midstream Partners by 6.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 402,915 shares of the company's stock worth $14,920,000 after buying an additional 23,844 shares during the last quarter. Northern Trust Corp grew its stake in Hess Midstream Partners by 17.8% during the 4th quarter. Northern Trust Corp now owns 85,550 shares of the company's stock worth $3,168,000 after buying an additional 12,939 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Hess Midstream Partners during the 4th quarter worth approximately $12,976,000. Institutional investors and hedge funds own 98.97% of the company's stock.

Hess Midstream Partners Trading Up 0.4%

Shares of HESM stock opened at $38.44 on Friday. The business's 50 day moving average is $38.26 and its two-hundred day moving average is $39.16. Hess Midstream Partners LP has a twelve month low of $33.59 and a twelve month high of $44.05. The company has a market capitalization of $8.28 billion, a P/E ratio of 15.07 and a beta of 0.63. 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 (NYSE:HESM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $382.00 million for the quarter, compared to the consensus estimate of $384.28 million. During the same period last year, the business posted $0.60 EPS. The company's revenue was up 7.4% on a year-over-year basis. Equities analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders 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 dividend yield of 7.39%. The ex-dividend date of this dividend was Thursday, May 8th. Hess Midstream Partners's dividend payout ratio (DPR) is 111.37%.

Insider Activity at Hess Midstream Partners

In other Hess Midstream Partners news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of Hess Midstream Partners stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream Partners stock in a transaction that occurred 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 Analysts Forecast Growth

A number of research firms recently issued reports on HESM. Wells Fargo & Company dropped their price target on Hess Midstream Partners from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on Hess Midstream Partners from $39.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th.

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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