GraniteShares Advisors LLC Has $2.90 Million Holdings in Hess Midstream Partners LP $HESM

GraniteShares Advisors LLC boosted its holdings in Hess Midstream Partners LP (NYSE:HESM) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,334 shares of the company’s stock after acquiring an additional 4,708 shares during the quarter. Hess Midstream Partners comprises about 1.8% of GraniteShares Advisors LLC’s investment portfolio, making the stock its 9th biggest holding. GraniteShares Advisors LLC’s holdings in Hess Midstream Partners were worth $2,901,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Hess Midstream Partners in the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Hess Midstream Partners during the first quarter worth approximately $31,000. Farther Finance Advisors LLC grew its position in Hess Midstream Partners by 840.2% in the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock worth $45,000 after buying an additional 941 shares during the last quarter. FSC Wealth Advisors LLC bought a new position in shares of Hess Midstream Partners in the first quarter valued at $58,000. Finally, IFP Advisors Inc increased its holdings in shares of Hess Midstream Partners by 20.0% in the first 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. 98.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HESM has been the subject of several research reports. Citigroup reduced their price objective on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. Morgan Stanley began coverage on Hess Midstream Partners in a research report on Friday, July 25th. They issued an “equal weight” rating and a $48.00 price target for the company. Wells Fargo & Company downgraded Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a report on Friday, September 19th. Wall Street Zen lowered shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday. Finally, UBS Group reissued a “neutral” rating and issued a $43.00 target price (down from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday, September 10th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.00.

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 on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total value of $2,597,586.63. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hess Midstream Partners Stock Up 0.1%

Shares of Hess Midstream Partners stock opened at $34.89 on Monday. Hess Midstream Partners LP has a 1 year low of $33.59 and a 1 year high of $44.14. The company has a market cap of $7.33 billion, a P/E ratio of 12.92 and a beta of 0.68. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. The stock has a 50-day moving average price of $40.21 and a 200 day moving average price of $39.24.

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, beating analysts’ consensus estimates of $0.56 by $0.18. The company had revenue of $414.20 million for the quarter, compared to the consensus estimate of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. As a group, analysts expect that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a dividend of $0.737 per share. 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 dividend yield of 8.4%. Hess Midstream Partners’s dividend payout ratio (DPR) is 109.26%.

Hess Midstream Partners 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.