Squarepoint Ops LLC Buys 86,309 Shares of Hess Midstream Partners LP $HESM

Key Points

• Squarepoint Ops LLC increased its Hess Midstream Partners stake by 419.8% in the second quarter, acquiring 86,309 additional shares and bringing its holdings to 106,871 shares valued at approximately $4.0 million.
• Analysts maintain a cautious outlook, with a consensus rating of “Reduce” and an average price target of $36.60; Morgan Stanley reiterated an underweight rating with a $39 target.
• Hess Midstream exceeded quarterly earnings expectations, reporting $0.75 EPS and $399 million in revenue, while raising its quarterly dividend to $0.7888 per share, equivalent to a 7.9% annualized yield.

Squarepoint Ops LLC boosted its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 419.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,871 shares of the company's stock after acquiring an additional 86,309 shares during the quarter. Squarepoint Ops LLC owned 0.05% of Hess Midstream Partners worth $4,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Grove Bank & Trust bought a new stake in shares of Hess Midstream Partners in the 2nd quarter worth about $38,000. Caitong International Asset Management Co. Ltd acquired a new position in Hess Midstream Partners in the fourth quarter valued at about $44,000. IFP Advisors Inc boosted its position in Hess Midstream Partners by 70.0% in the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company's stock valued at $49,000 after buying an additional 582 shares in the last quarter. CENTRAL TRUST Co grew its stake in Hess Midstream Partners by 124.4% during the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company's stock worth $84,000 after buying an additional 1,200 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock worth $92,000 after buying an additional 300 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

HESM has been the topic of several recent analyst reports. Morgan Stanley reissued an "underweight" rating and issued a $39.00 target price on shares of Hess Midstream Partners in a report on Tuesday, July 21st. Weiss Ratings reissued a "buy (b)" rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $36.60.

Hess Midstream Partners Price Performance

Shares of HESM stock opened at $40.03 on Friday. The stock has a 50-day moving average price of $39.93 and a 200 day moving average price of $39.09. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The firm has a market cap of $8.25 billion, a price-to-earnings ratio of 13.80 and a beta of 0.52. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $41.44.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The company had revenue of $399.00 million for the quarter, compared to the consensus estimate of $395.96 million. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The company's revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 EPS. Research analysts expect that Hess Midstream Partners LP will post 2.94 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, August 6th were paid a dividend of $0.7888 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.9%. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, August 6th. Hess Midstream Partners's payout ratio is presently 108.97%.

Hess Midstream Partners Profile

Hess Midstream Partners LP NYSE: HESM is a fee-based, publicly traded midstream energy company that provides infrastructure and logistics services for crude oil, natural gas and produced water. The partnership's operations are primarily supported by long-term commercial agreements with Hess and other customers.

The company owns and operates midstream assets in the Bakken and Three Forks shale plays of North Dakota. Its services include gathering crude oil and natural gas from producing wells, processing and compressing natural gas, gathering and disposing of produced water, and providing storage, terminaling and transportation services.

Hess Midstream's infrastructure includes gathering systems, natural gas processing facilities, crude oil and natural gas storage assets, rail and pipeline connections, and water-handling facilities.

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