Hess Midstream Partners LP (NYSE:HESM) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System grew its position in Hess Midstream Partners LP (NYSE:HESMFree Report) by 9.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,007 shares of the company’s stock after buying an additional 2,804 shares during the quarter. Arizona State Retirement System’s holdings in Hess Midstream Partners were worth $1,396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kesler Norman & Wride LLC boosted its position in Hess Midstream Partners by 14.7% during the 1st quarter. Kesler Norman & Wride LLC now owns 26,266 shares of the company’s stock worth $1,111,000 after acquiring an additional 3,360 shares during the period. Alps Advisors Inc. increased its holdings in shares of Hess Midstream Partners by 31.1% during the 1st quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company’s stock valued at $1,114,605,000 after acquiring an additional 6,251,664 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in shares of Hess Midstream Partners by 1.5% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 47,133 shares of the company’s stock valued at $1,993,000 after acquiring an additional 682 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Hess Midstream Partners during the 1st quarter worth approximately $319,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Hess Midstream Partners by 9.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,003,049 shares of the company’s stock worth $42,419,000 after purchasing an additional 88,239 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Insiders Place Their Bets

In related news, Director Geurt G. Schoonman sold 3,249 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $39.10, for a total value of $127,035.90. The sale was disclosed in a legal filing with the SEC, which is available through 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 Stock Performance

Shares of NYSE:HESM opened at $41.03 on Friday. Hess Midstream Partners LP has a 52 week low of $33.59 and a 52 week high of $44.05. The stock has a market capitalization of $8.84 billion, a P/E ratio of 16.09 and a beta of 0.63. The firm has a fifty day simple moving average of $38.44 and a two-hundred day simple moving average of $39.25. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 6.92.

Hess Midstream Partners (NYSE:HESMGet Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.65 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $382.00 million for the quarter, compared to the consensus estimate of $384.28 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, analysts expect that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, May 8th were given a dividend of $0.7098 per share. The ex-dividend date was Thursday, May 8th. This represents a $2.84 dividend on an annualized basis and a yield of 6.92%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.70. Hess Midstream Partners’s dividend payout ratio is presently 111.37%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Hess Midstream Partners from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on Hess Midstream Partners from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th.

Check Out Our Latest Report on HESM

Hess Midstream Partners Profile

(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.

Further Reading

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

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