Northern Trust Corp Has $11.71 Million Holdings in Hess Midstream Partners LP $HESM

Northern Trust Corp raised its stake in Hess Midstream Partners LP (NYSE:HESM) by 223.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,809 shares of the company’s stock after acquiring an additional 191,259 shares during the quarter. Northern Trust Corp owned about 0.13% of Hess Midstream Partners worth $11,706,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Hess Midstream Partners in the 1st quarter valued at about $31,000. Farther Finance Advisors LLC increased its position 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 valued at $45,000 after acquiring an additional 941 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in Hess Midstream Partners in the 1st quarter valued at about $58,000. IFP Advisors Inc increased its position in Hess Midstream Partners by 20.0% in the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company’s stock valued at $149,000 after acquiring an additional 586 shares in the last quarter. Finally, PFG Investments LLC acquired a new stake in Hess Midstream Partners in the 1st quarter valued at about $202,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Stock Up 0.4%

Hess Midstream Partners stock opened at $41.24 on Friday. The company’s 50 day simple moving average is $40.35 and its 200 day simple moving average is $39.55. Hess Midstream Partners LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.14. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 15.27 and a beta of 0.68. The company has a debt-to-equity ratio of 7.26, a current ratio of 0.71 and a quick ratio of 0.71.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The business had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. During the same quarter last year, the firm earned $0.59 EPS. Hess Midstream Partners’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a $0.737 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.71. This represents a $2.95 dividend on an annualized basis and a yield of 7.1%. Hess Midstream Partners’s payout ratio is presently 109.26%.

Insider Buying and Selling

In other Hess Midstream Partners news, Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream Partners stock in a transaction that occurred on 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 document filed with the SEC, which is available at this hyperlink. Also, COO John A. Gatling sold 62,457 shares of Hess Midstream Partners stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

HESM has been the topic of several recent research reports. Wall Street Zen raised shares of Hess Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Wells Fargo & Company raised their target price on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their target price on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Finally, Morgan Stanley initiated coverage on shares of Hess Midstream Partners in a research note on Friday, July 25th. They issued an “equal weight” rating and a $48.00 target price on the stock. Three investment 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, Hess Midstream Partners presently has an average rating of “Moderate Buy” and an average target price of $46.20.

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.