Teacher Retirement System of Texas purchased a new stake in Hess Midstream Partners LP (NYSE:HESM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,721 shares of the company's stock, valued at approximately $707,000.
A number of other institutional investors have also recently bought and sold shares of HESM. Farther Finance Advisors LLC grew its stake in shares of Hess Midstream Partners by 840.2% in the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock valued at $45,000 after acquiring an additional 941 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Hess Midstream Partners by 77.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock worth $49,000 after acquiring an additional 579 shares during the last quarter. FSC Wealth Advisors LLC bought a new position in shares of Hess Midstream Partners in the first quarter worth about $58,000. US Bancorp DE raised its holdings in Hess Midstream Partners by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after buying an additional 510 shares during the last quarter. Finally, Virtus ETF Advisers LLC raised its holdings in Hess Midstream Partners by 9.5% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock valued at $184,000 after buying an additional 432 shares during the last quarter. Institutional investors own 98.97% of the company's stock.
Hess Midstream Partners Stock Up 6.8%
HESM stock traded up $2.62 during trading on Friday, reaching $41.03. 3,657,607 shares of the company traded hands, compared to its average volume of 1,065,105. Hess Midstream Partners LP has a 12 month low of $33.59 and a 12 month high of $44.05. The business has a 50 day simple moving average of $38.44 and a 200 day simple moving average of $39.23. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 16.09 and a beta of 0.63. The company has a debt-to-equity ratio of 6.92, a quick ratio of 0.81 and a current ratio of 0.81.
Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $382.00 million for the quarter, compared to analyst estimates of $384.28 million. Hess Midstream Partners had a return on equity of 54.89% and a net margin of 16.43%. Hess Midstream Partners's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. On average, equities research analysts anticipate that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.
Hess Midstream Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were paid a dividend of $0.7098 per share. The ex-dividend date was Thursday, May 8th. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 6.92%. Hess Midstream Partners's dividend payout ratio is currently 110.98%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on HESM. JPMorgan Chase & Co. increased their target price on Hess Midstream Partners from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Wells Fargo & Company decreased their price objective on shares of Hess Midstream Partners from $42.00 to $41.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st.
View Our Latest Stock Report on Hess Midstream Partners
Insider Buying and Selling
In related news, Director Geurt G. Schoonman sold 3,249 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $39.10, for a total value of $127,035.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the company'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 value of $553,729,976.62. The disclosure for this sale can be found here.
About Hess Midstream Partners
(
Free Report)
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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