Oppenheimer & Co. Inc. Takes $226,000 Position in Hess Midstream Partners LP (NYSE:HESM)

Oppenheimer & Co. Inc. bought a new stake in Hess Midstream Partners LP (NYSE:HESM) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,350 shares of the company’s stock, valued at approximately $226,000.

A number of other hedge funds have also modified their holdings of the business. Farther Finance Advisors LLC increased its position in Hess Midstream Partners by 840.2% during the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock worth $45,000 after purchasing an additional 941 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Hess Midstream Partners by 77.2% during the fourth 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 last quarter. FSC Wealth Advisors LLC acquired a new stake in Hess Midstream Partners during the first quarter worth about $58,000. US Bancorp DE increased its position in shares of Hess Midstream Partners by 34.0% during the fourth quarter. US Bancorp DE now owns 2,010 shares of the company’s stock valued at $74,000 after acquiring an additional 510 shares during the last quarter. Finally, PFG Investments LLC acquired a new stake in shares of Hess Midstream Partners during the first quarter valued at about $202,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HESM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Wells Fargo & Company cut their target price on shares of 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.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $38.21 on Friday. Hess Midstream Partners LP has a one year low of $33.59 and a one year high of $44.05. The company has a debt-to-equity ratio of 6.92, a quick ratio of 0.81 and a current ratio of 0.81. The company’s fifty day moving average is $38.23 and its two-hundred day moving average is $39.08. The firm has a market capitalization of $8.23 billion, a P/E ratio of 14.98 and a beta of 0.63.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Hess Midstream Partners had a net margin of 16.43% and a return on equity of 54.89%. The company had revenue of $382.00 million for the quarter, compared to analyst estimates of $384.28 million. During the same period in the prior year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Thursday, May 8th were given a dividend of $0.7098 per share. This represents a $2.84 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date of this dividend was Thursday, May 8th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.70. Hess Midstream Partners’s dividend payout ratio is 111.37%.

Insider Activity at Hess Midstream Partners

In other news, Director Geurt G. Schoonman sold 3,249 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $39.10, for a total transaction of $127,035.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of Hess Midstream Partners 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 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.