75,405 Shares in Hess Midstream Partners LP $HESM Purchased by Readystate Asset Management LP

Readystate Asset Management LP bought a new stake in shares of Hess Midstream Partners LP (NYSE:HESM) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 75,405 shares of the company’s stock, valued at approximately $2,931,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of HESM. Geneos Wealth Management Inc. raised its holdings in shares of Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after buying an additional 300 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in Hess Midstream Partners by 1.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 25,766 shares of the company’s stock valued at $889,000 after acquiring an additional 330 shares in the last quarter. Investment Management Corp VA ADV raised its stake in Hess Midstream Partners by 3.0% during the 4th quarter. Investment Management Corp VA ADV now owns 12,519 shares of the company’s stock valued at $432,000 after acquiring an additional 362 shares in the last quarter. Cetera Investment Advisers boosted its position in Hess Midstream Partners by 0.8% during the 4th quarter. Cetera Investment Advisers now owns 44,931 shares of the company’s stock worth $1,550,000 after acquiring an additional 378 shares during the period. Finally, Creative Planning boosted its position in Hess Midstream Partners by 4.7% during the 3rd quarter. Creative Planning now owns 9,000 shares of the company’s stock worth $311,000 after acquiring an additional 404 shares during the period. Institutional investors own 98.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HESM. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. Morgan Stanley reiterated an “underweight” rating and issued a $39.00 target price on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. Finally, The Goldman Sachs Group cut shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price on the stock. in a research note on Monday, April 20th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $38.86.

Hess Midstream Partners Trading Up 0.6%

Shares of HESM stock opened at $40.05 on Wednesday. The stock has a 50-day simple moving average of $38.74 and a 200 day simple moving average of $38.07. The stock has a market capitalization of $8.26 billion, a P/E ratio of 13.86 and a beta of 0.53. Hess Midstream Partners LP has a fifty-two week low of $31.63 and a fifty-two week high of $44.14. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The company had revenue of $390.10 million during the quarter, compared to the consensus estimate of $389.51 million. During the same period in the prior year, the company earned $0.65 EPS. Hess Midstream Partners’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that Hess Midstream Partners LP will post 2.86 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, August 6th will be issued a dividend of $0.7888 per share. The ex-dividend date is Thursday, August 6th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a yield of 7.9%. Hess Midstream Partners’s payout ratio is 107.96%.

About Hess Midstream Partners

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.