Teacher Retirement System of Texas Invests $707,000 in Hess Midstream Partners LP (NYSE:HESM)

Teacher Retirement System of Texas purchased a new stake in Hess Midstream Partners LP (NYSE:HESMFree 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

HESM has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Wells Fargo & Company lowered their price objective on Hess Midstream Partners from $42.00 to $41.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st.

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:HESMGet 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

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Hess Midstream Partners (NYSE:HESM)

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