Epoch Investment Partners Inc. boosted its holdings in shares of Hess Midstream Partners LP (NYSE:HESM – Free Report) by 12.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500,598 shares of the company’s stock after acquiring an additional 269,216 shares during the period. Epoch Investment Partners Inc. owned about 1.20% of Hess Midstream Partners worth $86,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. grew its holdings in Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after acquiring an additional 300 shares in the last quarter. Kestra Private Wealth Services LLC grew 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 acquiring an additional 330 shares in the last quarter. Investment Management Corp VA ADV grew its holdings in Hess Midstream Partners by 3.0% during the 4th quarter. Investment Management Corp VA ADV now owns 12,519 shares of the company’s stock worth $432,000 after acquiring an additional 362 shares in the last quarter. Creative Planning grew its holdings in Hess Midstream Partners by 4.7% during the 3rd quarter. Creative Planning now owns 9,000 shares of the company’s stock worth $311,000 after acquiring an additional 404 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Hess Midstream Partners by 6.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,761 shares of the company’s stock worth $233,000 after acquiring an additional 409 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have issued reports on HESM shares. Weiss Ratings upgraded shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Zacks Research upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Morgan Stanley cut shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 target price on the stock. in a report on Wednesday. Wells Fargo & Company increased their price target on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Finally, The Goldman Sachs Group lowered shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target for the company. in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $38.71.
Hess Midstream Partners Stock Performance
HESM stock opened at $38.41 on Friday. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 13.29 and a beta of 0.52. The firm has a 50-day simple moving average of $38.70 and a two-hundred day simple moving average of $37.01. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $44.14. The company has a debt-to-equity ratio of 9.97, a quick ratio of 0.92 and a current ratio of 0.92.
Hess Midstream Partners (NYSE:HESM – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. The business had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share. On average, equities analysts forecast that Hess Midstream Partners LP will post 2.99 EPS for the current fiscal year.
Hess Midstream Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were given a $0.7792 dividend. This represents a $3.12 annualized dividend and a dividend yield of 8.1%. The ex-dividend date of this dividend was Thursday, May 7th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s payout ratio is 107.61%.
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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