Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Hess Midstream Partners LP (NYSE:HESM – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 64,706 shares of the company’s stock, valued at approximately $2,232,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Alps Advisors Inc. lifted its position in shares of Hess Midstream Partners by 1.2% during the 3rd quarter. Alps Advisors Inc. now owns 29,295,245 shares of the company’s stock valued at $1,012,151,000 after buying an additional 338,729 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Hess Midstream Partners during the 3rd quarter valued at approximately $187,691,000. JPMorgan Chase & Co. lifted its position in shares of Hess Midstream Partners by 179.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,269,146 shares of the company’s stock valued at $78,399,000 after buying an additional 1,456,627 shares in the last quarter. UBS Group AG lifted its position in shares of Hess Midstream Partners by 3.5% during the 4th quarter. UBS Group AG now owns 2,038,226 shares of the company’s stock valued at $70,319,000 after buying an additional 68,984 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Hess Midstream Partners during the 3rd quarter valued at approximately $58,480,000. Hedge funds and other institutional investors own 98.97% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Zacks Research upgraded Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. The Goldman Sachs Group lowered Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price on the stock. in a research report on Monday, April 20th. Wells Fargo & Company raised their price objective on Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. Weiss Ratings upgraded Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, Morgan Stanley decreased their price objective on Hess Midstream Partners from $42.00 to $38.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.71.
Hess Midstream Partners Trading Down 1.6%
Shares of HESM stock opened at $40.06 on Thursday. The stock’s fifty day moving average is $38.89 and its two-hundred day moving average is $36.37. The company has a debt-to-equity ratio of 9.97, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $8.26 billion, a P/E ratio of 13.86 and a beta of 0.54. Hess Midstream Partners LP has a fifty-two week low of $31.63 and a fifty-two week high of $44.14.
Hess Midstream Partners (NYSE:HESM – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $390.10 million for the quarter, compared to analyst estimates of $389.51 million. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. Research analysts expect that Hess Midstream Partners LP will post 2.99 earnings per share for the current fiscal year.
Hess Midstream Partners Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were paid a $0.7792 dividend. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.8%. Hess Midstream Partners’s dividend payout ratio is 107.96%.
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.
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