Paralel Advisors LLC Makes New $2.23 Million Investment in Hess Midstream Partners LP $HESM

Paralel Advisors LLC acquired a new stake in shares of Hess Midstream Partners LP (NYSE:HESM) during the second quarter, Holdings Channel reports. The institutional investor acquired 59,361 shares of the company’s stock, valued at approximately $2,232,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Abacus FCF Advisors LLC increased its holdings in shares of Hess Midstream Partners by 1.6% in the second quarter. Abacus FCF Advisors LLC now owns 81,071 shares of the company’s stock valued at $3,048,000 after purchasing an additional 1,276 shares during the period. Grove Bank & Trust purchased a new stake in Hess Midstream Partners in the second quarter valued at approximately $38,000. Glenmede Trust Co. NA acquired a new position in Hess Midstream Partners in the 1st quarter worth approximately $470,000. Ritter Alpha LP purchased a new stake in shares of Hess Midstream Partners in the 1st quarter valued at $249,000. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Hess Midstream Partners by 13,752.4% in the 1st quarter. Sunbelt Securities Inc. now owns 5,818 shares of the company’s stock valued at $226,000 after acquiring an additional 5,776 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Stock Down 1.5%

HESM stock opened at $39.17 on Friday. The firm’s fifty day moving average is $39.15 and its 200 day moving average is $38.70. The firm has a market cap of $8.08 billion, a PE ratio of 13.51 and a beta of 0.52. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $41.80. The company has a debt-to-equity ratio of 9.39, a quick ratio of 0.77 and a current ratio of 0.77.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The company had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $395.96 million. During the same quarter in the prior year, the firm posted $0.74 EPS. Hess Midstream Partners’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, research analysts forecast that Hess Midstream Partners LP will post 2.94 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.7888 per share. The ex-dividend date of this dividend was Thursday, August 6th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a yield of 8.1%. Hess Midstream Partners’s payout ratio is 108.62%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. Morgan Stanley reiterated an “underweight” rating and set a $39.00 price objective on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $38.86.

Hess Midstream Partners Profile

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.