TD Asset Management Inc Has $133.14 Million Stock Position in Hess Midstream Partners LP (NYSE:HESM)

Key Points

• TD Asset Management Inc has reduced its stake in Hess Midstream Partners by 5.4%, selling 181,143 shares, and now holds approximately 1.44% of the company valued at $133.14 million.
• Hess Midstream Partners recently increased its quarterly dividend to $0.7098 per share, yielding 7.05%, up from the previous $0.70.
• Equities analysts have given the company a consensus rating of "Moderate Buy" with a target price of $45.60, following recent upgrades from firms like Wells Fargo.

TD Asset Management Inc lowered its position in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,148,262 shares of the company's stock after selling 181,143 shares during the quarter. TD Asset Management Inc owned approximately 1.44% of Hess Midstream Partners worth $133,140,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in Hess Midstream Partners by 840.2% during the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $45,000 after buying an additional 941 shares during the period. FSC Wealth Advisors LLC purchased a new stake in shares of Hess Midstream Partners during the 1st quarter valued at $58,000. IFP Advisors Inc lifted its holdings in shares of Hess Midstream Partners by 20.0% during the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock valued at $149,000 after purchasing an additional 586 shares during the last quarter. PFG Investments LLC purchased a new stake in shares of Hess Midstream Partners during the 1st quarter valued at $202,000. Finally, Virtus ETF Advisers LLC increased its holdings in shares of Hess Midstream Partners by 9.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock valued at $184,000 after purchasing an additional 432 shares during the period. Institutional investors own 98.97% of the company's stock.

Insider Transactions at Hess Midstream Partners

In other news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $36.86, for a total transaction of $553,729,976.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Geurt G. Schoonman sold 3,249 shares of the business'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 disclosure for this sale can be found here.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HESM shares. Wells Fargo & Company raised Hess Midstream Partners from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $41.00 to $47.00 in a research report on Friday, July 25th. Morgan Stanley started coverage on Hess Midstream Partners in a research report on Friday, July 25th. They set an "equal weight" rating and a $48.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $45.60.

Hess Midstream Partners Stock Up 3.2%

Shares of NYSE:HESM traded up $1.30 during midday trading on Wednesday, hitting $42.55. 1,098,619 shares of the company's stock traded hands, compared to its average volume of 1,286,366. The company has a debt-to-equity ratio of 6.92, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $9.17 billion, a PE ratio of 16.69 and a beta of 0.63. The firm's fifty day moving average price is $38.61 and its two-hundred day moving average price is $39.34. Hess Midstream Partners LP has a twelve month low of $33.59 and a twelve month high of $44.05.

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 (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a net margin of 16.43% and a return on equity of 54.89%. The firm had revenue of $414.20 million for the quarter, compared to the consensus estimate of $405.08 million. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm's quarterly revenue was up 13.3% on a year-over-year basis. On average, equities research analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th will be given a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 6.93%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date is Thursday, August 7th. Hess Midstream Partners's payout ratio is 111.37%.

About Hess Midstream Partners

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.