Hess Midstream Partners Sees Unusually Large Options Volume (NYSE:HESM)

Hess Midstream Partners LP (NYSE:HESM) was the target of some unusual options trading on Tuesday. Stock traders bought 10,679 put options on the company. This represents an increase of approximately 1,553% compared to the average daily volume of 646 put options.

Hedge Funds Weigh In On Hess Midstream Partners

Several institutional investors have recently modified their holdings of HESM. Geneos Wealth Management Inc. grew its position in shares of Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after purchasing an additional 300 shares during the period. Kestra Private Wealth Services LLC raised its holdings in Hess Midstream Partners by 1.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 25,766 shares of the company’s stock worth $889,000 after buying an additional 330 shares during the period. Palo Duro Investment Partners LP raised its holdings in Hess Midstream Partners by 3.6% during the 2nd quarter. Palo Duro Investment Partners LP now owns 10,309 shares of the company’s stock worth $388,000 after buying an additional 363 shares during the period. Cetera Investment Advisers lifted its stake in Hess Midstream Partners by 0.8% in the fourth quarter. Cetera Investment Advisers now owns 44,931 shares of the company’s stock valued at $1,550,000 after buying an additional 378 shares in the last quarter. Finally, Creative Planning lifted its stake in Hess Midstream Partners by 4.7% in the third quarter. Creative Planning now owns 9,000 shares of the company’s stock valued at $311,000 after buying an additional 404 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HESM shares. Morgan Stanley restated an “underweight” rating and set a $39.00 target price on shares of Hess Midstream Partners in a report on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $37.67.

Hess Midstream Partners Trading Down 1.0%

Shares of HESM stock traded down $0.40 on Tuesday, hitting $39.81. The stock had a trading volume of 462,741 shares, compared to its average volume of 1,560,561. 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 has a twelve month low of $31.63 and a twelve month high of $41.63. The company has a fifty day moving average price of $39.48 and a two-hundred day moving average price of $38.90. The firm has a market cap of $8.21 billion, a P/E ratio of 13.74 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate 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 revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. As a group, analysts forecast that Hess Midstream Partners will post 2.94 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, August 6th were issued a $0.7888 dividend. This represents a $3.16 annualized dividend and a dividend yield of 7.9%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date was Thursday, August 6th. Hess Midstream Partners’s dividend payout ratio 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.