VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 57,423 Hess Midstream Partners LP $HESM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Hess Midstream Partners LP (NYSE:HESM) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 57,423 shares of the company’s stock, valued at approximately $2,211,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in Hess Midstream Partners during the second quarter valued at $50,000. Farther Finance Advisors LLC increased its stake in Hess Midstream Partners by 124.4% during the second quarter. Farther Finance Advisors LLC now owns 2,363 shares of the company’s stock valued at $91,000 after purchasing an additional 1,310 shares during the last quarter. Fractal Investments LLC increased its stake in Hess Midstream Partners by 23.8% during the second quarter. Fractal Investments LLC now owns 291,247 shares of the company’s stock valued at $11,216,000 after purchasing an additional 56,000 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Hess Midstream Partners during the first quarter valued at $707,000. Finally, Maryland State Retirement & Pension System increased its stake in Hess Midstream Partners by 21.7% during the second quarter. Maryland State Retirement & Pension System now owns 118,778 shares of the company’s stock valued at $4,574,000 after purchasing an additional 21,176 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Performance

HESM stock opened at $33.27 on Wednesday. The company has a market capitalization of $6.99 billion, a P/E ratio of 12.32 and a beta of 0.58. The company has a 50-day simple moving average of $37.53 and a 200 day simple moving average of $38.19. 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 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, topping 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 the consensus estimate of $405.08 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side 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 firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend was Thursday, August 7th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.71. Hess Midstream Partners’s dividend payout ratio is currently 108.89%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, October 8th. Zacks Research raised shares of Hess Midstream Partners from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Citigroup reduced their price target on shares of Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. Morgan Stanley assumed 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 target for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Hess Midstream Partners in a report on Tuesday, September 30th. They set a “neutral” rating and a $36.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $42.00.

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 dated Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

About Hess Midstream Partners

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.