Jupiter Topco LLC Invests $2.12 Million in Hess Midstream Partners LP $HESM

Jupiter Topco LLC purchased a new stake in Hess Midstream Partners LP (NYSE:HESM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 56,416 shares of the company’s stock, valued at approximately $2,120,000.

Other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust acquired a new position in Hess Midstream Partners during the second quarter worth $38,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hess Midstream Partners in the 4th quarter valued at about $44,000. IFP Advisors Inc raised its holdings in shares of Hess Midstream Partners by 70.0% in the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after purchasing an additional 582 shares during the period. CENTRAL TRUST Co grew its holdings in Hess Midstream Partners by 124.4% during the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HESM. Morgan Stanley reiterated an “underweight” rating and set a $39.00 target price on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Hess Midstream Partners presently has an average rating of “Reduce” and an average price target of $37.67.

Hess Midstream Partners Stock Down 0.4%

Shares of HESM opened at $39.85 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 9.39. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $41.50. The firm’s 50 day moving average is $39.62 and its 200-day moving average is $38.98. The stock has a market capitalization of $8.22 billion, a PE ratio of 13.74 and a beta of 0.52.

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

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, August 6th were given a dividend of $0.7888 per share. 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 7.9%. The ex-dividend date of this dividend was Thursday, August 6th. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 108.97%.

Hess Midstream Partners Company 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.