Hess Midstream Partners LP $HESM Holdings Trimmed by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA decreased its stake in Hess Midstream Partners LP by 37.5% in the first quarter, resulting in ownership of 11,491 shares valued at approximately $486,000.
• Hess Midstream Partners announced a quarterly dividend of $0.737 per share, increasing from its previous dividend, which reflects a 7.2% dividend yield.
• The company reported a quarterly earnings per share of $0.74, surpassing analysts' expectations, along with a 13.3% increase in revenue compared to the same quarter last year.

Petrus Trust Company LTA reduced its stake in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 37.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,491 shares of the company's stock after selling 6,895 shares during the period. Petrus Trust Company LTA's holdings in Hess Midstream Partners were worth $486,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hess Midstream Partners during the first quarter valued at approximately $31,000. Farther Finance Advisors LLC raised its holdings in shares of Hess Midstream Partners by 840.2% during the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock valued at $45,000 after buying an additional 941 shares during the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of Hess Midstream Partners during the first quarter valued at approximately $58,000. IFP Advisors Inc raised its holdings 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 valued at $149,000 after buying an additional 586 shares during the last quarter. Finally, PFG Investments LLC bought a new stake in shares of Hess Midstream Partners during the first quarter valued at approximately $202,000. Institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Price Performance

Hess Midstream Partners stock traded up $0.24 during mid-day trading on Thursday, hitting $39.76. The company's stock had a trading volume of 1,330,702 shares, compared to its average volume of 1,332,277. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. The stock has a market capitalization of $8.35 billion, a P/E ratio of 14.72 and a beta of 0.68. Hess Midstream Partners LP has a twelve month low of $33.59 and a twelve month high of $44.14. The stock's fifty day moving average price is $40.50 and its two-hundred day moving average price is $39.53.

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

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were given a $0.737 dividend. This represents a $2.95 annualized dividend and a yield of 7.4%. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 7th. Hess Midstream Partners's dividend payout ratio (DPR) is presently 109.26%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Morgan Stanley began coverage on Hess Midstream Partners in a report on Friday, July 25th. They set an "equal weight" rating and a $48.00 target price on the stock. UBS Group reissued a "neutral" rating and set a $43.00 target price (down previously from $45.00) on shares of Hess Midstream Partners in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Hess Midstream Partners has an average rating of "Hold" and an average target price of $45.17.

Insider Transactions at Hess Midstream Partners

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of Hess Midstream Partners stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through the SEC website.

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.