Lee Financial Co Trims Stock Position in Hess Midstream Partners LP $HESM

Lee Financial Co cut its position in Hess Midstream Partners LP (NYSE:HESM) by 53.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 6,180 shares of the company’s stock after selling 7,181 shares during the quarter. Lee Financial Co’s holdings in Hess Midstream Partners were worth $261,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Quantbot Technologies LP grew its holdings in shares of Hess Midstream Partners by 55.6% during the first quarter. Quantbot Technologies LP now owns 189,188 shares of the company’s stock worth $8,001,000 after purchasing an additional 67,606 shares in the last quarter. Northern Trust Corp lifted its position in Hess Midstream Partners by 223.6% during the first quarter. Northern Trust Corp now owns 276,809 shares of the company’s stock valued at $11,706,000 after purchasing an additional 191,259 shares during the last quarter. Algert Global LLC grew its stake in Hess Midstream Partners by 31.0% in the 1st quarter. Algert Global LLC now owns 325,371 shares of the company’s stock worth $13,760,000 after buying an additional 77,058 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of Hess Midstream Partners by 5.9% in the 1st quarter. Raymond James Financial Inc. now owns 371,011 shares of the company’s stock worth $15,690,000 after buying an additional 20,601 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Hess Midstream Partners by 27.8% in the 1st quarter. American Century Companies Inc. now owns 306,851 shares of the company’s stock worth $12,977,000 after buying an additional 66,753 shares during the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley began coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They set an “equal weight” rating and a $48.00 price objective for the company. Wells Fargo & Company raised their price target on Hess Midstream Partners from $47.00 to $48.00 and gave the company an “overweight” rating in a research 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to 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

Shares of Hess Midstream Partners stock opened at $41.16 on Monday. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. Hess Midstream Partners LP has a 52-week low of $33.59 and a 52-week high of $44.14. The company has a fifty day moving average of $39.65 and a 200-day moving average of $39.45. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 15.24 and a beta of 0.67.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $405.08 million. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. Equities research analysts expect 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. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 dividend on an annualized basis and a yield of 7.2%. Hess Midstream Partners’s payout ratio is presently 109.26%.

Insiders Place Their Bets

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the business’s 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geurt G. Schoonman sold 3,249 shares of Hess Midstream Partners stock in a transaction on Monday, June 9th. The stock was sold at an average price of $39.10, for a total transaction of $127,035.90. The disclosure for this sale can be found here. Insiders have sold 15,088,223 shares of company stock valued at $556,454,599 in the last ninety days.

Hess Midstream Partners Company 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.