Zimmer Partners LP Has $31.14 Million Holdings in Hess Midstream Partners LP $HESM

Key Points

• Zimmer Partners LP increased its position in Hess Midstream Partners by 16.4% in Q1, owning 736,240 shares valued at approximately $31.14 million.
• Hess Midstream Partners recently raised its quarterly dividend to $0.737, resulting in an annualized dividend of $2.95 and a yield of 7.4%.
• Analysts have a consensus rating of "Moderate Buy" for Hess Midstream Partners, with an average price target of $46.20.

Zimmer Partners LP raised its stake in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 16.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 736,240 shares of the company's stock after buying an additional 103,924 shares during the quarter. Zimmer Partners LP owned 0.34% of Hess Midstream Partners worth $31,136,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in shares of Hess Midstream Partners in the 1st quarter valued at approximately $707,000. Northern Trust Corp increased its stake in Hess Midstream Partners by 17.8% in the fourth quarter. Northern Trust Corp now owns 85,550 shares of the company's stock valued at $3,168,000 after purchasing an additional 12,939 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Hess Midstream Partners by 11.1% in the first quarter. Advisors Asset Management Inc. now owns 80,750 shares of the company's stock worth $3,415,000 after purchasing an additional 8,083 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Hess Midstream Partners by 960.1% in the first quarter. Cubist Systematic Strategies LLC now owns 39,034 shares of the company's stock worth $1,651,000 after purchasing an additional 35,352 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Hess Midstream Partners by 10.0% in the first 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 during the period. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Partners Stock Down 1.0%

Shares of NYSE:HESM traded down $0.40 during mid-day trading on Friday, reaching $39.31. 1,187,485 shares of the stock were exchanged, compared to its average volume of 1,147,196. The stock's 50 day simple moving average is $40.55 and its 200-day simple moving average is $39.50. Hess Midstream Partners LP has a one year low of $33.59 and a one year high of $44.14. The company has a market cap of $8.26 billion, a P/E ratio of 14.56 and a beta of 0.68. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The firm had revenue of $414.20 million for the quarter, compared to analysts' expectations of $405.08 million. During the same quarter in the previous year, the business posted $0.59 EPS. The business's quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts predict that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were given a dividend of $0.737 per share. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 annualized dividend and a yield of 7.5%. Hess Midstream Partners's payout ratio is presently 109.26%.

Analysts Set New Price Targets

HESM has been the topic of several analyst reports. Morgan Stanley initiated coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 target price on the stock. Citigroup reiterated a "neutral" rating and issued a $41.00 target price (down from $42.00) on shares of Hess Midstream Partners in a report on Thursday. Wells Fargo & Company increased their target price on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. UBS Group restated 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $45.17.

Insider Activity at Hess Midstream Partners

In other news, COO John A. Gatling sold 62,457 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is available through this link.

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.