MQS Management LLC Purchases Shares of 15,488 Hess Midstream Partners LP $HESM

MQS Management LLC purchased a new stake in shares of Hess Midstream Partners LP (NYSE:HESM) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 15,488 shares of the company’s stock, valued at approximately $596,000.

A number of other institutional investors have also made changes to their positions in the stock. Leisure Capital Management increased its position in shares of Hess Midstream Partners by 2.0% during the first quarter. Leisure Capital Management now owns 26,681 shares of the company’s stock valued at $1,128,000 after acquiring an additional 533 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Hess Midstream Partners by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the company’s stock worth $615,000 after acquiring an additional 570 shares during the last quarter. IFP Advisors Inc lifted its stake in Hess Midstream Partners by 20.0% in the first quarter. IFP Advisors Inc now owns 3,520 shares of the company’s stock worth $149,000 after acquiring an additional 586 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its stake in Hess Midstream Partners by 3.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 19,215 shares of the company’s stock worth $813,000 after acquiring an additional 593 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Hess Midstream Partners in the second quarter worth approximately $25,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HESM. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Saturday. UBS Group reiterated a “neutral” rating and issued a $43.00 price target (down previously from $45.00) on shares of Hess Midstream Partners in a research note on Wednesday, September 10th. Raymond James Financial reiterated an “outperform” rating and issued a $35.00 price target (down previously from $48.00) on shares of Hess Midstream Partners in a research note on Friday. Zacks Research downgraded shares of Hess Midstream Partners from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 20th. Finally, Wall Street Zen upgraded shares of Hess Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Hess Midstream Partners currently has an average rating of “Hold” and an average target price of $40.57.

Hess Midstream Partners Stock Up 0.3%

Shares of Hess Midstream Partners stock opened at $33.86 on Friday. The company has a market cap of $7.11 billion, a P/E ratio of 12.54 and a beta of 0.58. 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 one year low of $31.63 and a one year high of $44.14. The firm has a fifty day moving average of $37.06 and a two-hundred day moving average of $38.15.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The company had revenue of $414.20 million during the quarter, compared to the consensus estimate of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. Hess Midstream Partners’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, analysts forecast that Hess Midstream Partners LP will post 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were given a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 8.7%. The ex-dividend date 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%.

Insider Buying and Selling

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

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.