IVC Wealth Advisors LLC Takes $253,000 Position in Hess Midstream Partners LP $HESM

IVC Wealth Advisors LLC bought a new stake in shares of Hess Midstream Partners LP (NYSE:HESM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,572 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds have also recently modified their holdings of the business. Leisure Capital Management boosted 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 in the last quarter. Janney Montgomery Scott LLC boosted 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 in the last quarter. IFP Advisors Inc boosted its holdings in shares of Hess Midstream Partners by 20.0% during the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company’s stock valued at $149,000 after buying an additional 586 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of Hess Midstream Partners by 3.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 19,215 shares of the company’s stock valued at $813,000 after buying an additional 593 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Hess Midstream Partners during the 2nd quarter valued at $25,000. Institutional investors own 98.97% of the company’s stock.

Insider Activity at Hess Midstream Partners

In other news, COO John A. Gatling sold 62,457 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

HESM has been the topic of a number of analyst reports. 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 price target on the stock. The Goldman Sachs Group began coverage on shares of Hess Midstream Partners in a research report on Tuesday, September 30th. They set a “neutral” rating and a $36.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Saturday, September 27th. JPMorgan Chase & Co. increased their price objective on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Finally, UBS Group reissued a “neutral” rating and set a $43.00 price objective (down from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.00.

Hess Midstream Partners Price Performance

Shares of NYSE:HESM opened at $34.40 on Friday. Hess Midstream Partners LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.14. The business has a 50-day simple moving average of $39.71 and a two-hundred day simple moving average of $38.97. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 12.74 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $414.20 million during the quarter, compared to analyst estimates of $405.08 million. During the same quarter in the previous year, the firm earned $0.59 EPS. Hess Midstream Partners’s revenue was up 13.3% on a year-over-year basis. On average, analysts expect that Hess Midstream Partners LP will post 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a dividend of $0.737 per share. This represents a $2.95 annualized dividend and a dividend yield of 8.6%. 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. Hess Midstream Partners’s payout ratio is currently 109.26%.

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.