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

IVC Wealth Advisors LLC bought a new position in Hess Midstream Partners LP (NYSE:HESM) in the 2nd quarter, Holdings Channel reports. The fund bought 6,572 shares of the company’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Hess Midstream Partners in the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in Hess Midstream Partners in the 1st quarter worth approximately $31,000. Farther Finance Advisors LLC increased its holdings in Hess Midstream Partners by 840.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock worth $45,000 after acquiring an additional 941 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Hess Midstream Partners in the 2nd quarter worth approximately $50,000. Finally, FSC Wealth Advisors LLC purchased a new stake in Hess Midstream Partners in the 1st quarter worth approximately $58,000. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hess Midstream Partners

In related news, COO John A. Gatling sold 62,457 shares of the firm’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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hess Midstream Partners Trading Up 0.2%

HESM stock opened at $34.40 on Friday. The firm has a fifty day moving average price of $39.71 and a 200 day moving average price of $38.97. Hess Midstream Partners LP has a fifty-two week low of $33.59 and a fifty-two week high of $44.14. 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 PE ratio of 12.74 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM) last posted 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. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The firm had revenue of $414.20 million during the quarter, compared to analyst estimates of $405.08 million. During the same period last year, the firm posted $0.59 earnings per share. Hess Midstream Partners’s revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were issued a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.6%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 7th. Hess Midstream Partners’s payout ratio is 109.26%.

Analysts Set New Price Targets

HESM has been the subject of several analyst reports. Citigroup reduced their target price 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. Zacks Research raised shares of Hess Midstream Partners from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. 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 report on Wednesday, September 10th. Morgan Stanley began coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They issued an “equal weight” rating and a $48.00 target price for the company. Finally, Wells Fargo & Company lowered shares of Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.00.

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.