Zurcher Kantonalbank Zurich Cantonalbank Purchases 9,424 Shares of Hess Midstream Partners LP (NYSE:HESM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 51.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,887 shares of the company's stock after purchasing an additional 9,424 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Hess Midstream Partners were worth $1,179,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew 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 purchasing an additional 941 shares during the period. FSC Wealth Advisors LLC bought a new position in Hess Midstream Partners in the first quarter valued at approximately $58,000. IFP Advisors Inc increased its position in shares of Hess Midstream Partners by 20.0% during the first quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock worth $149,000 after acquiring an additional 586 shares in the last quarter. Virtus ETF Advisers LLC raised its holdings in shares of Hess Midstream Partners by 9.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock worth $184,000 after acquiring an additional 432 shares during the period. Finally, PFG Investments LLC acquired a new position in Hess Midstream Partners in the 1st quarter worth $202,000. Institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Stock Up 0.7%

Shares of Hess Midstream Partners stock traded up $0.27 during trading hours on Friday, reaching $41.29. 791,532 shares of the company's stock were exchanged, compared to its average volume of 1,337,603. The stock has a market cap of $8.90 billion, a P/E ratio of 15.30 and a beta of 0.67. The company has a 50 day moving average of $39.21 and a two-hundred day moving average of $39.45. 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 LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.14.

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, topping the consensus estimate of $0.56 by $0.18. The business had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. Hess Midstream Partners had a return on equity of 61.46% and a net margin of 18.52%. Hess Midstream Partners's revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 earnings per share. On average, sell-side analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th will be given a $0.737 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 dividend on an annualized basis and a dividend yield of 7.1%. Hess Midstream Partners's payout ratio is 105.19%.

Analyst Ratings Changes

A number of brokerages have recently commented on HESM. Morgan Stanley initiated coverage on Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price target on the stock. Wells Fargo & Company boosted their target price on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $45.80.

Insider Buying and Selling

In other news, Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream Partners 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 Securities & Exchange Commission, which is available through this link. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $36.86, for a total value of $553,729,976.62. 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.