Turtle Creek Wealth Advisors LLC acquired a new stake in Hess Midstream Partners LP (NYSE:HESM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,151 shares of the company's stock, valued at approximately $472,000.
A number of other large investors also recently modified their holdings of HESM. Farther Finance Advisors LLC boosted its position 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 during the period. Steward Partners Investment Advisory LLC raised its stake in 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 valued at $49,000 after purchasing an additional 579 shares in the last quarter. FSC Wealth Advisors LLC purchased a new stake in Hess Midstream Partners in the first quarter valued at approximately $58,000. US Bancorp DE raised its stake in Hess Midstream Partners by 34.0% in the fourth quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after purchasing an additional 510 shares in the last quarter. Finally, Virtus ETF Advisers LLC raised its stake in 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 in the last quarter. 98.97% of the stock is currently owned by institutional investors.
Hess Midstream Partners Price Performance
Shares of HESM stock traded up $0.21 during trading hours on Thursday, hitting $38.39. 938,474 shares of the company's stock were exchanged, compared to its average volume of 1,053,814. The company has a market capitalization of $8.27 billion, a PE ratio of 15.05 and a beta of 0.63. Hess Midstream Partners LP has a 12-month low of $33.59 and a 12-month high of $44.05. The business's 50 day simple moving average is $38.36 and its 200-day simple moving average is $39.20. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 6.92.
Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. Hess Midstream Partners had a return on equity of 54.89% and a net margin of 16.43%. The company had revenue of $382.00 million during the quarter, compared to analyst estimates of $384.28 million. During the same quarter in the previous year, the company posted $0.60 EPS. Hess Midstream Partners's revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts anticipate that Hess Midstream Partners LP will post 2.5 earnings per share for the current year.
Hess Midstream Partners Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were paid a $0.7098 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.40%. The ex-dividend date of this dividend was Thursday, May 8th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.70. Hess Midstream Partners's payout ratio is 111.37%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Wells Fargo & Company lowered their target price on shares of Hess Midstream Partners from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st.
Get Our Latest Analysis on HESM
Insider Transactions at Hess Midstream Partners
In related 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 value of $553,729,976.62. The sale was disclosed in a filing with the SEC, 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
(
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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