Sequoia Financial Advisors LLC Makes New Investment in Hess Midstream Partners LP (NYSE:HESM)

Sequoia Financial Advisors LLC acquired a new position in Hess Midstream Partners LP (NYSE:HESM) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,500 shares of the company’s stock, valued at approximately $317,000.

A number of other institutional investors have also recently added to or reduced their stakes in HESM. Oppenheimer Asset Management Inc. lifted its holdings in Hess Midstream Partners by 2.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,857 shares of the company’s stock worth $439,000 after buying an additional 298 shares in the last quarter. US Bancorp DE lifted its holdings 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 buying an additional 510 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in 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 worth $49,000 after buying an additional 579 shares in the last quarter. Arizona State Retirement System lifted its holdings in Hess Midstream Partners by 14.1% in the 4th quarter. Arizona State Retirement System now owns 30,203 shares of the company’s stock worth $1,118,000 after buying an additional 3,736 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Hess Midstream Partners in the 4th quarter worth $12,976,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on HESM. JPMorgan Chase & Co. boosted their price objective on shares of Hess Midstream Partners from $39.00 to $44.00 and gave the stock a “neutral” rating in a 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 research note on Thursday, May 1st.

Insider Activity

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 transaction of $127,035.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Blackrock Portfolio Management sold 15,022,517 shares of the stock in a transaction dated 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 Hess Midstream Partners stock opened at $38.21 on Friday. The firm has a market cap of $8.23 billion, a PE ratio of 14.98 and a beta of 0.63. The firm’s 50-day simple moving average is $38.23 and its 200-day simple moving average is $39.08. The company has a debt-to-equity ratio of 6.92, a quick ratio of 0.81 and a current ratio of 0.81. Hess Midstream Partners LP has a 1 year low of $33.59 and a 1 year high of $44.05.

Hess Midstream Partners (NYSE:HESM) last issued 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. The business had revenue of $382.00 million for the quarter, compared to analyst estimates of $384.28 million. Hess Midstream Partners had a net margin of 16.43% and a return on equity of 54.89%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 EPS. Equities analysts forecast that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, May 8th were paid a $0.7098 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date of this dividend was Thursday, May 8th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.70. Hess Midstream Partners’s dividend payout ratio is 111.37%.

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.