John A. Gatling Sells 62,457 Shares of Hess Midstream Partners (NYSE:HESM) Stock

Key Points

• Hess Midstream Partners LP COO John A. Gatling sold 62,457 shares at an average price of $41.59, totaling approximately $2.6 million.
• The company announced a quarterly dividend increase to $0.737 per share, with a yield of 7.1% and a payout ratio of 109.26%.
• Hess Midstream reported a 13.3% year-over-year revenue growth, with earnings per share of $0.74, surpassing expectations of $0.56.

Hess Midstream Partners LP (NYSE:HESM - Get Free Report) COO John A. Gatling sold 62,457 shares of Hess Midstream Partners stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hess Midstream Partners Price Performance

HESM traded up $0.0150 during midday trading on Tuesday, reaching $40.8850. 1,011,021 shares of the company's stock were exchanged, compared to its average volume of 1,961,036. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. The business has a 50-day simple moving average of $39.73 and a two-hundred day simple moving average of $39.46. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 15.14 and a beta of 0.67. Hess Midstream Partners LP has a one year low of $33.59 and a one year high of $44.14.

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

Hess Midstream Partners Increases Dividend

The business 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 of this dividend was Thursday, August 7th. This is a boost 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 7.2%. Hess Midstream Partners's dividend payout ratio (DPR) is 109.26%.

Analyst Ratings Changes

Several research firms have recently weighed in on HESM. Wells Fargo & Company upped 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. Wall Street Zen upgraded shares of Hess Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley assumed coverage on shares of Hess Midstream Partners in a research note on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $45.80.

Institutional Trading of Hess Midstream Partners

A number of hedge funds and other institutional investors have recently modified their holdings of HESM. Alps Advisors Inc. lifted its holdings 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 buying an additional 6,251,664 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of Hess Midstream Partners by 1.1% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 7,581,106 shares of the company's stock worth $280,728,000 after acquiring an additional 83,943 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Hess Midstream Partners by 10.0% during the first quarter. Goldman Sachs Group Inc. now owns 7,233,773 shares of the company's stock valued at $305,916,000 after acquiring an additional 655,062 shares during the period. Invesco Ltd. boosted its holdings in Hess Midstream Partners by 50.5% in the second quarter. Invesco Ltd. now owns 6,022,208 shares of the company's stock valued at $231,915,000 after acquiring an additional 2,020,430 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Hess Midstream Partners by 9.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,503,752 shares of the company's stock valued at $232,754,000 after acquiring an additional 492,683 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

About Hess Midstream Partners

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.