Hess Midstream Partners (NYSE:HESM) Stock Sees Heavy Put Option Buying

Hess Midstream Partners LP (NYSE:HESM) was the recipient of some unusual options trading activity on Wednesday. Investors bought 22,237 put options on the stock. This represents an increase of approximately 2,639% compared to the average daily volume of 812 put options.

Institutional Investors Weigh In On Hess Midstream Partners

A number of large investors have recently bought and sold shares of HESM. Palo Duro Investment Partners LP lifted its position in shares of Hess Midstream Partners by 3.6% in the second quarter. Palo Duro Investment Partners LP now owns 10,309 shares of the company’s stock valued at $388,000 after acquiring an additional 363 shares in the last quarter. Sanctuary Advisors LLC increased its position in Hess Midstream Partners by 0.5% during the 2nd quarter. Sanctuary Advisors LLC now owns 82,818 shares of the company’s stock worth $3,114,000 after purchasing an additional 408 shares in the last quarter. Westover Capital Advisors LLC increased its position in Hess Midstream Partners by 0.7% during the 1st quarter. Westover Capital Advisors LLC now owns 95,993 shares of the company’s stock worth $3,731,000 after purchasing an additional 638 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Hess Midstream Partners by 8.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,700 shares of the company’s stock worth $338,000 after purchasing an additional 699 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Hess Midstream Partners by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 108,105 shares of the company’s stock valued at $4,065,000 after purchasing an additional 744 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Price Performance

NYSE:HESM traded down $5.79 during mid-day trading on Wednesday, hitting $32.90. 7,463,511 shares of the company’s stock traded hands, compared to its average volume of 1,570,091. The company has a debt-to-equity ratio of 9.39, a quick ratio of 0.77 and a current ratio of 0.77. The firm’s 50 day simple moving average is $39.64 and its 200 day simple moving average is $39.08. Hess Midstream Partners has a 1 year low of $31.63 and a 1 year high of $41.44. The company has a market cap of $6.78 billion, a PE ratio of 11.37 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $399.00 million for the quarter, compared to the consensus estimate of $395.96 million. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Sell-side analysts expect that Hess Midstream Partners 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. Investors of record on Thursday, August 6th were given a dividend of $0.7888 per share. The ex-dividend date was Thursday, August 6th. This represents a $3.16 annualized dividend and a dividend yield of 9.6%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.7792. Hess Midstream Partners’s payout ratio is presently 108.97%.

Analyst Ratings Changes

HESM has been the topic of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Monday, September 21st. JPMorgan Chase & Co. lowered Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 price target on the stock. in a research note on Friday, October 2nd. Finally, Morgan Stanley restated an “underweight” rating and issued a $39.00 price target on shares of Hess Midstream Partners in a report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $37.00.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP (NYSE:HESM) is a fee-based midstream energy company that owns and operates infrastructure supporting crude oil, natural gas and produced-water production in the Bakken Shale of North Dakota. The partnership primarily serves Hess Corp. and other producers operating in the region.

Its assets include systems for gathering and processing natural gas, gathering and transporting crude oil, and handling and disposing of produced water. Hess Midstream also provides storage, terminal and transportation services, helping connect production sites with downstream pipelines, rail facilities and other market outlets.

The company was formed to own midstream assets previously developed or operated by Hess and began trading publicly in 2017.