Vanguard Group Inc. Has $29.88 Million Stock Position in Hess Midstream Partners LP $HESM

Key Points

• Vanguard Group Inc. increased its stake in Hess Midstream Partners LP by 6.2% during the first quarter, owning 706,507 shares valued at approximately $29.88 million.
• Hess Midstream Partners recently raised its quarterly dividend to $0.737 per share, resulting in a 7.1% annual yield.
• Analysts have mixed reviews on Hess Midstream Partners; the average rating is a "Moderate Buy" with a consensus target price of $46.20.

Vanguard Group Inc. lifted its position in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 706,507 shares of the company's stock after buying an additional 41,405 shares during the period. Vanguard Group Inc. owned about 0.32% of Hess Midstream Partners worth $29,878,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in HESM. Alps Advisors Inc. lifted its holdings in shares of Hess Midstream Partners by 31.1% during the 1st quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock valued at $1,114,605,000 after purchasing an additional 6,251,664 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Hess Midstream Partners by 11.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,011,069 shares of the company's stock worth $185,560,000 after buying an additional 496,464 shares during the period. Kayne Anderson Capital Advisors LP lifted its stake in Hess Midstream Partners by 10.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,885,110 shares of the company's stock valued at $122,011,000 after buying an additional 276,779 shares in the last quarter. Artemis Investment Management LLP boosted its holdings in shares of Hess Midstream Partners by 131.4% in the first quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company's stock valued at $83,288,000 after buying an additional 1,118,245 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Hess Midstream Partners by 41.0% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,825,485 shares of the company's stock worth $77,200,000 after acquiring an additional 530,626 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

Hess Midstream Partners Stock Performance

NYSE:HESM traded down $0.39 on Friday, hitting $41.19. The company's stock had a trading volume of 1,247,035 shares, compared to its average volume of 1,472,230. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. The stock has a fifty day moving average of $40.11 and a two-hundred day moving average of $39.51. The firm has a market capitalization of $8.65 billion, a P/E ratio of 15.25 and a beta of 0.67. Hess Midstream Partners LP has a one year low of $33.59 and a one year high of $44.14.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.18. The business had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The firm's revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. Research analysts predict 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. Investors of record on Thursday, August 7th were issued a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend was Thursday, August 7th. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's payout ratio is presently 109.26%.

Insider Buying and Selling

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Geurt G. Schoonman sold 3,249 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $39.10, for a total value of $127,035.90. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of brokerages recently commented on HESM. JPMorgan Chase & Co. raised their price objective on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Morgan Stanley assumed coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective on the stock. Wells Fargo & Company lifted their target price on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Hess Midstream Partners has a consensus rating of "Moderate Buy" and an average target price of $46.20.

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.