Swiss National Bank Acquires 18,200 Shares of Hess Midstream Partners LP $HESM

Key Points

• Swiss National Bank increased its holdings in Hess Midstream Partners LP by **8.9%**, now owning **222,900 shares** valued at approximately **$9.43 million**.
• The company announced a quarterly dividend increase to **$0.737 per share**, up from **$0.71**, representing a **7.2% dividend yield**.
• Hess Midstream's latest earnings report showed a quarterly EPS of **$0.74**, exceeding analyst estimates, with a revenue increase of **13.3% year-over-year**.

Swiss National Bank increased its position in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 222,900 shares of the company's stock after purchasing an additional 18,200 shares during the quarter. Swiss National Bank owned approximately 0.10% of Hess Midstream Partners worth $9,426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Fayez Sarofim & Co bought a new stake in shares of Hess Midstream Partners in the 1st quarter valued at about $324,000. Maryland State Retirement & Pension System raised its holdings in shares of Hess Midstream Partners by 13.5% in the 1st quarter. Maryland State Retirement & Pension System now owns 97,602 shares of the company's stock valued at $4,128,000 after purchasing an additional 11,582 shares during the period. Vanguard Group Inc. raised its holdings in shares of Hess Midstream Partners by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 706,507 shares of the company's stock valued at $29,878,000 after purchasing an additional 41,405 shares during the period. Leisure Capital Management raised its holdings in shares of Hess Midstream Partners by 2.0% in the 1st quarter. Leisure Capital Management now owns 26,681 shares of the company's stock valued at $1,128,000 after purchasing an additional 533 shares during the period. Finally, Blair William & Co. IL bought a new stake in shares of Hess Midstream Partners in the 1st quarter valued at about $216,000. 98.97% of the stock is owned by institutional investors.

Insider Transactions at Hess Midstream Partners

In other news, Director Geurt G. Schoonman sold 3,249 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $39.10, for a total transaction of $127,035.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $36.86, for a total transaction of $553,729,976.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,088,223 shares of company stock valued at $556,454,599.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Morgan Stanley assumed coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $45.80.

Hess Midstream Partners Stock Performance

Hess Midstream Partners stock traded down $0.0450 during trading hours on Thursday, hitting $41.2750. The company had a trading volume of 1,283,150 shares, compared to its average volume of 1,871,921. The firm has a market cap of $8.67 billion, a PE ratio of 15.29 and a beta of 0.67. The company has a debt-to-equity ratio of 7.26, a current ratio of 0.71 and a quick ratio of 0.71. Hess Midstream Partners LP has a one year low of $33.59 and a one year high of $44.14. The firm has a 50-day moving average of $39.81 and a 200 day moving average of $39.48.

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 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 analysts' expectations of $405.08 million. During the same period in the prior year, the firm earned $0.59 EPS. The business's revenue was up 13.3% on a year-over-year basis. On average, sell-side 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were issued a dividend of $0.737 per share. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend was Thursday, August 7th. Hess Midstream Partners's payout ratio is 109.26%.

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.