Wealthstar Advisors LLC Makes New $670,000 Investment in Hess Midstream Partners LP (NYSE:HESM)

Wealthstar Advisors LLC purchased a new stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,833 shares of the company's stock, valued at approximately $670,000.

A number of other institutional investors have also added to or reduced their stakes in HESM. Farther Finance Advisors LLC boosted its holdings in Hess Midstream Partners by 840.2% during the 1st 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 lifted its holdings in Hess Midstream Partners by 77.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company's stock worth $49,000 after buying an additional 579 shares during the period. FSC Wealth Advisors LLC purchased a new stake in Hess Midstream Partners in the 1st quarter worth approximately $58,000. US Bancorp DE lifted its holdings in Hess Midstream Partners by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock worth $74,000 after buying an additional 510 shares during the period. Finally, IFP Advisors Inc lifted its holdings in Hess Midstream Partners by 33.3% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the company's stock worth $109,000 after buying an additional 733 shares during the period. Hedge funds and other institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Stock Down 0.7%

HESM stock opened at $38.58 on Friday. Hess Midstream Partners LP has a twelve month low of $33.59 and a twelve month high of $44.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 6.92. The firm has a market cap of $8.31 billion, a PE ratio of 15.13 and a beta of 0.63. The business has a 50 day moving average of $38.18 and a 200 day moving average of $39.05.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. The business had revenue of $382.00 million during the quarter, compared to analyst estimates of $384.28 million. Hess Midstream Partners had a return on equity of 54.89% and a net margin of 16.43%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. On average, research analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were paid a $0.7098 dividend. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.36%. The ex-dividend date was Thursday, May 8th. Hess Midstream Partners's dividend payout ratio (DPR) is 111.37%.

Analyst Ratings Changes

HESM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on 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 Hess Midstream Partners from $42.00 to $41.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.80.

Insider Transactions 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 dated Friday, May 30th. The stock was sold at an average price of $36.86, for a total value of $553,729,976.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Geurt G. Schoonman sold 3,249 shares of the business's stock in a transaction dated 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.

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.

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