Texas Yale Capital Corp. Raises Holdings in Hess Midstream Partners LP (NYSE:HESM)

Key Points

• Texas Yale Capital Corp. increased its holdings in Hess Midstream Partners LP by 20.1% after purchasing 12,400 additional shares, raising its total to 74,000 shares valued at approximately $3.13 million.
• Hess Midstream Partners recently announced a quarterly dividend of $0.7098, reflecting an increase from the previous dividend of $0.70, with a dividend yield of 7.05%.
• Wells Fargo upgraded Hess Midstream Partners from an "equal weight" to an "overweight" rating, raising the price target from $41.00 to $47.00, indicating positive analyst sentiment.

Texas Yale Capital Corp. lifted its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 20.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,000 shares of the company's stock after purchasing an additional 12,400 shares during the period. Texas Yale Capital Corp.'s holdings in Hess Midstream Partners were worth $3,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in Hess Midstream Partners by 52.1% during the 4th quarter. American Century Companies Inc. now owns 240,098 shares of the company's stock worth $8,891,000 after acquiring an additional 82,284 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Hess Midstream Partners during the 4th quarter valued at about $1,540,000. LPL Financial LLC grew its holdings in shares of Hess Midstream Partners by 4.8% during the fourth quarter. LPL Financial LLC now owns 194,610 shares of the company's stock worth $7,206,000 after purchasing an additional 8,942 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Hess Midstream Partners by 62.0% in the fourth quarter. JPMorgan Chase & Co. now owns 295,503 shares of the company's stock valued at $10,942,000 after purchasing an additional 113,080 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Hess Midstream Partners in the 4th quarter worth $7,069,000. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Partners Stock Performance

HESM traded up $0.06 during midday trading on Monday, reaching $40.34. The company had a trading volume of 1,189,491 shares, compared to its average volume of 1,499,343. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 6.92. Hess Midstream Partners LP has a 1 year low of $33.59 and a 1 year high of $44.05. The company has a market cap of $8.69 billion, a P/E ratio of 15.80 and a beta of 0.63. The business has a 50-day moving average of $38.56 and a two-hundred day moving average of $39.33.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. Hess Midstream Partners had a net margin of 16.43% and a return on equity of 54.89%. The company had revenue of $382.00 million for the quarter, compared to analysts' expectations of $384.28 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. Hess Midstream Partners's quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts predict that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were given a $0.7098 dividend. This represents a $2.84 annualized dividend and a yield of 7.04%. The ex-dividend date was Thursday, May 8th. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.70. Hess Midstream Partners's payout ratio is currently 111.37%.

Analysts Set New Price Targets

HESM has been the subject of several research reports. Wells Fargo & Company raised Hess Midstream Partners from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $41.00 to $47.00 in a research note on Friday. Morgan Stanley initiated coverage on Hess Midstream Partners in a research note on Friday. They set an "equal weight" rating and a $48.00 price objective 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.60.

Insider Buying and Selling at Hess Midstream Partners

In other Hess Midstream Partners news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of Hess Midstream Partners stock in a transaction 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream Partners stock in a transaction on Monday, June 9th. The stock was 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.

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.