PFG Investments LLC Buys 7,821 Shares of Hess Midstream Partners LP $HESM

PFG Investments LLC grew its position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 163.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,600 shares of the company's stock after purchasing an additional 7,821 shares during the period. PFG Investments LLC's holdings in Hess Midstream Partners were worth $485,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of HESM. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Hess Midstream Partners in the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hess Midstream Partners in the first quarter worth $31,000. Farther Finance Advisors LLC increased its holdings in shares of Hess Midstream Partners by 840.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock valued at $45,000 after purchasing an additional 941 shares in the last quarter. FSC Wealth Advisors LLC acquired a new position in Hess Midstream Partners during the first quarter worth $58,000. Finally, IFP Advisors Inc boosted its stake in Hess Midstream Partners by 20.0% during the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock worth $149,000 after purchasing an additional 586 shares during the last quarter. Institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Trading Up 0.2%

Shares of HESM opened at $34.40 on Friday. The business's 50-day moving average price is $39.71 and its 200 day moving average price is $38.97. The stock has a market capitalization of $7.23 billion, a P/E ratio of 12.74 and a beta of 0.58. 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.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The firm had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. During the same quarter in the prior year, the business earned $0.59 EPS. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts expect 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 issued a $0.737 dividend. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 annualized dividend and a yield of 8.6%. Hess Midstream Partners's payout ratio is presently 109.26%.

Insider Activity

In other news, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group restated a "neutral" rating and issued a $43.00 price objective (down from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. The Goldman Sachs Group started coverage on shares of Hess Midstream Partners in a report on Tuesday, September 30th. They set a "neutral" rating and a $36.00 price target for the company. Wall Street Zen raised shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday. Zacks Research raised shares of Hess Midstream Partners from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 29th. Finally, Morgan Stanley began coverage on Hess Midstream Partners in a research report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $42.00.

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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