Teacher Retirement System of Texas purchased a new stake in Hess Midstream Partners LP (NYSE:HESM – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,721 shares of the company’s stock, valued at approximately $707,000.
Several other hedge funds also recently modified their holdings of HESM. Farther Finance Advisors LLC increased its holdings in Hess Midstream Partners by 840.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock worth $45,000 after acquiring an additional 941 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of 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 valued at $49,000 after purchasing an additional 579 shares in the last quarter. FSC Wealth Advisors LLC bought a new position in Hess Midstream Partners during the 1st quarter worth approximately $58,000. US Bancorp DE increased its stake in Hess Midstream Partners by 34.0% in the 4th quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after purchasing an additional 510 shares during the period. Finally, Virtus ETF Advisers LLC increased its stake in shares of Hess Midstream Partners by 9.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company’s stock worth $184,000 after buying an additional 432 shares during the period. Institutional investors own 98.97% of the company’s stock.
Insider Activity
In other news, Director Geurt G. Schoonman sold 3,249 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is accessible 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.
Analysts Set New Price Targets
View Our Latest Analysis on Hess Midstream Partners
Hess Midstream Partners Price Performance
NYSE HESM opened at $38.13 on Wednesday. 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 stock has a 50-day moving average of $38.32 and a 200 day moving average of $39.20. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 14.95 and a beta of 0.63.
Hess Midstream Partners (NYSE:HESM – Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $382.00 million during the quarter, compared to analysts’ expectations of $384.28 million. Hess Midstream Partners had a net margin of 16.43% and a return on equity of 54.89%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share. On average, sell-side analysts forecast 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 Wednesday, May 14th. Shareholders of record on Thursday, May 8th were issued a dividend of $0.7098 per share. The ex-dividend date was Thursday, May 8th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 7.45%. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 111.37%.
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.
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