Wealthstar Advisors LLC Takes Position in Hess Midstream Partners LP (NYSE:HESM)

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

Several other large investors have also modified their holdings of the stock. IFP Advisors Inc boosted its holdings in shares of Hess Midstream Partners by 33.3% in the fourth 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. Oppenheimer Asset Management Inc. raised its holdings in shares of Hess Midstream Partners by 2.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company's stock valued at $439,000 after acquiring an additional 298 shares during the period. US Bancorp DE lifted its position in shares of Hess Midstream Partners by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company's stock valued at $74,000 after acquiring an additional 510 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Hess Midstream Partners in the 4th quarter valued at approximately $292,000. Finally, Steward Partners Investment Advisory LLC boosted its stake 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 purchasing an additional 579 shares during the period. 98.97% of the stock is owned by institutional investors.

Insider Activity

In other Hess Midstream Partners news, Director Geurt G. Schoonman sold 3,249 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $39.10, for a total transaction of $127,035.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $36.86, for a total transaction of $553,729,976.62. The disclosure for this sale can be found here.

Hess Midstream Partners Stock Up 1.0%

HESM stock traded up $0.39 during midday trading on Wednesday, reaching $38.35. The company had a trading volume of 2,791,716 shares, compared to its average volume of 1,039,849. The company has a 50 day moving average of $38.23 and a two-hundred day moving average of $39.08. The company has a market capitalization of $8.26 billion, a P/E ratio of 15.04 and a beta of 0.63. Hess Midstream Partners LP has a 1 year low of $33.59 and a 1 year high of $44.05. 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 announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Hess Midstream Partners's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. On average, 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 company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were paid a dividend of $0.7098 per share. The ex-dividend date was Thursday, May 8th. 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 7.40%. Hess Midstream Partners's dividend payout ratio (DPR) is 111.37%.

Analyst Ratings Changes

Several analysts have issued reports on HESM shares. JPMorgan Chase & Co. boosted 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 price target on Hess Midstream Partners from $42.00 to $41.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.80.

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.