Voleon Capital Management LP Increases Stock Position in Hess Midstream Partners LP $HESM

Key Points

• Voleon Capital Management LP significantly increased its stake in Hess Midstream Partners LP by 132.7%, acquiring an additional 9,397 shares during the first quarter.
• Hess Midstream Partners recently reported a quarterly dividend increase to $0.737 per share, up from $0.71, yielding 7.3% annually.
• Analysts have a consensus rating of “Moderate Buy” on Hess Midstream Partners, with price targets ranging from $46.00 to $48.00.

Voleon Capital Management LP increased its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 132.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,478 shares of the company's stock after purchasing an additional 9,397 shares during the quarter. Voleon Capital Management LP's holdings in Hess Midstream Partners were worth $697,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in HESM. Alps Advisors Inc. increased its position in Hess Midstream Partners by 31.1% during the 1st quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company's stock worth $1,114,605,000 after purchasing an additional 6,251,664 shares in the last quarter. Artemis Investment Management LLP increased its position in Hess Midstream Partners by 131.4% during the 1st quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company's stock worth $83,288,000 after purchasing an additional 1,118,245 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in Hess Midstream Partners during the 1st quarter worth approximately $29,640,000. Goldman Sachs Group Inc. increased its position in Hess Midstream Partners by 10.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,233,773 shares of the company's stock worth $305,916,000 after purchasing an additional 655,062 shares in the last quarter. Finally, Zimmer Partners LP acquired a new position in Hess Midstream Partners during the 4th quarter worth approximately $23,415,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Partners Stock Up 0.1%

Shares of Hess Midstream Partners stock traded up $0.03 during trading on Monday, reaching $39.32. 170,467 shares of the company traded hands, compared to its average volume of 1,328,649. The company has a debt-to-equity ratio of 7.26, a current ratio of 0.71 and a quick ratio of 0.71. Hess Midstream Partners LP has a 1-year low of $33.59 and a 1-year high of $44.14. The company has a 50 day moving average price of $40.55 and a 200-day moving average price of $39.50. The firm has a market capitalization of $8.26 billion, a PE ratio of 14.56 and a beta of 0.68.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share (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 the consensus estimate of $405.08 million. During the same quarter in the previous year, the company earned $0.59 EPS. Hess Midstream Partners's quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a dividend of $0.737 per share. The ex-dividend date was Thursday, August 7th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 annualized dividend and a yield of 7.5%. Hess Midstream Partners's dividend payout ratio is currently 109.26%.

Insiders Place Their Bets

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 shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HESM shares. Citigroup reiterated a "neutral" rating and set a $41.00 price objective (down from $42.00) on shares of Hess Midstream Partners in a research report on Thursday. JPMorgan Chase & Co. boosted their target price 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. UBS Group reissued a "neutral" rating and set a $43.00 target price (down from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. Wall Street Zen raised shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $45.17.

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.