Swiss National Bank Increases Stock Holdings in Hess Midstream Partners LP (NYSE:HESM)

Swiss National Bank lifted its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 222,900 shares of the company’s stock after buying an additional 18,200 shares during the quarter. Swiss National Bank’s holdings in Hess Midstream Partners were worth $9,426,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. ProShare Advisors LLC raised its holdings in shares of Hess Midstream Partners by 5.7% during the 4th quarter. ProShare Advisors LLC now owns 7,935 shares of the company’s stock valued at $294,000 after buying an additional 429 shares during the period. Virtus ETF Advisers LLC raised its holdings in shares of Hess Midstream Partners by 9.5% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company’s stock valued at $184,000 after buying an additional 432 shares during the period. WBI Investments LLC raised its holdings in shares of Hess Midstream Partners by 2.5% during the 4th quarter. WBI Investments LLC now owns 18,309 shares of the company’s stock valued at $678,000 after buying an additional 446 shares during the period. Leisure Capital Management raised its holdings in shares of Hess Midstream Partners by 2.0% during the 1st quarter. Leisure Capital Management now owns 26,681 shares of the company’s stock valued at $1,128,000 after buying an additional 533 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Hess Midstream Partners by 4.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the company’s stock valued at $615,000 after buying an additional 570 shares during the period. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HESM. Morgan Stanley began coverage on Hess Midstream Partners in a report on Friday, July 25th. They set an “equal weight” rating and a $48.00 target price on the stock. Wells Fargo & Company lifted their price objective on Hess Midstream Partners from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded Hess Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

Hess Midstream Partners Price Performance

HESM stock opened at $41.16 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. Hess Midstream Partners LP has a 52-week low of $33.59 and a 52-week high of $44.14. The stock’s 50 day moving average is $39.65 and its two-hundred day moving average is $39.48. The company has a market capitalization of $8.87 billion, a PE ratio of 15.24 and a beta of 0.67.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%. The company had revenue of $414.20 million for the quarter, compared to the consensus estimate of $405.08 million. During the same period in the previous year, the business earned $0.59 EPS. Hess Midstream Partners’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts predict 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a $0.737 dividend. This represents a $2.95 annualized dividend and a dividend yield of 7.2%. The ex-dividend date was Thursday, August 7th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.71. Hess Midstream Partners’s payout ratio is 109.26%.

Insider Transactions at Hess Midstream Partners

In other news, COO John A. Gatling sold 62,457 shares of Hess Midstream Partners stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream Partners stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $39.10, for a total value of $127,035.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,088,223 shares of company stock worth $556,454,599.

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.