Virtu Financial LLC Makes New $823,000 Investment in Hess Midstream Partners LP (NYSE:HESM)

Key Points

• Virtu Financial LLC has acquired a new stake in Hess Midstream Partners LP, purchasing 19,468 shares valued at approximately $823,000 in the first quarter.
• Hess Midstream Partners recently reported better-than-expected earnings, with $0.74 earnings per share, exceeding analyst estimates of $0.56, alongside a revenue increase of 13.3% year-over-year.
• The company announced an increase in its quarterly dividend to $0.737 per share, representing a 7.1% yield and a payout ratio of 109.26%.

Virtu Financial LLC bought a new stake in Hess Midstream Partners LP (NYSE:HESM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,468 shares of the company's stock, valued at approximately $823,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of Hess Midstream Partners by 840.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock valued at $45,000 after buying an additional 941 shares in the last quarter. FSC Wealth Advisors LLC acquired a new position in shares of Hess Midstream Partners in the 1st quarter valued at approximately $58,000. IFP Advisors Inc raised its position in shares of Hess Midstream Partners by 20.0% in the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock valued at $149,000 after buying an additional 586 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Hess Midstream Partners in the 1st quarter valued at approximately $202,000. Finally, Virtus ETF Advisers LLC raised its position in shares of 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 in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Partners Price Performance

Shares of Hess Midstream Partners stock traded down $0.31 during midday trading on Friday, hitting $41.16. 1,367,096 shares of the company traded hands, compared to its average volume of 2,175,004. The firm's fifty day moving average price is $39.65 and its 200-day moving average price is $39.48. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. Hess Midstream Partners LP has a 12 month low of $33.59 and a 12 month high of $44.14. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 15.24 and a beta of 0.67.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The company had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. During the same period in the prior year, the firm posted $0.59 EPS. The company's quarterly revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts forecast 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 Thursday, August 14th. Investors of record on Thursday, August 7th were given 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 was Thursday, August 7th. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. Hess Midstream Partners's dividend payout ratio is presently 108.89%.

Insider Activity at Hess Midstream Partners

In related news, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business's 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 filing with the SEC, which is available at this hyperlink. Also, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The disclosure for this sale can be found here. Insiders have sold 15,088,223 shares of company stock worth $556,454,599 in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on HESM shares. Wells Fargo & Company boosted their target price on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley began 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 target on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $45.80.

Hess Midstream Partners 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.