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

Hess Midstream Partners LP (NYSE:HESM) saw unusually large options trading on Tuesday. Traders bought 10,679 put options on the company. This is an increase of approximately 1,553% compared to the average volume of 646 put options.

Wall Street Analysts Forecast Growth

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

Hess Midstream Partners Trading Down 1.0%

NYSE:HESM traded down $0.40 during trading hours on Tuesday, hitting $39.81. 462,741 shares of the stock were exchanged, compared to its average volume of 1,560,561. The company has a market capitalization of $8.21 billion, a P/E ratio of 13.74 and a beta of 0.52. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The company’s 50 day moving average is $39.48 and its two-hundred day moving average is $38.90. Hess Midstream Partners has a twelve month low of $31.63 and a twelve month high of $41.63.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, August 3rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The company had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $395.96 million. During the same period last year, the firm earned $0.74 EPS. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, August 6th were given a dividend of $0.7888 per share. This represents a $3.16 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date was Thursday, August 6th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. Hess Midstream Partners’s dividend payout ratio is currently 108.97%.

Institutional Investors Weigh In On Hess Midstream Partners

Several institutional investors have recently modified their holdings of the business. Grove Bank & Trust acquired a new position in Hess Midstream Partners in the second quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in Hess Midstream Partners during the 4th quarter worth $44,000. IFP Advisors Inc raised its position in shares of Hess Midstream Partners by 70.0% during the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after acquiring an additional 582 shares during the last quarter. CENTRAL TRUST Co raised its position in shares of Hess Midstream Partners by 124.4% during the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock valued at $84,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake 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. Institutional investors and hedge funds own 98.97% of the company’s stock.

About Hess Midstream Partners

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.