Swiss National Bank Grows Stake in Hess Midstream Partners LP $HESM

Swiss National Bank increased its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 6.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238,200 shares of the company’s stock after purchasing an additional 15,300 shares during the quarter. Swiss National Bank’s holdings in Hess Midstream Partners were worth $9,173,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HESM. Dynamic Technology Lab Private Ltd lifted its position in shares of Hess Midstream Partners by 116.2% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 15,044 shares of the company’s stock worth $579,000 after buying an additional 8,086 shares during the last quarter. SG Americas Securities LLC lifted its position in Hess Midstream Partners by 1,100.9% in the second quarter. SG Americas Securities LLC now owns 65,555 shares of the company’s stock valued at $2,525,000 after acquiring an additional 60,096 shares during the last quarter. Alberta Investment Management Corp boosted its stake in Hess Midstream Partners by 149.2% in the second quarter. Alberta Investment Management Corp now owns 88,700 shares of the company’s stock valued at $3,416,000 after acquiring an additional 53,100 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Hess Midstream Partners during the second quarter worth about $50,000. Finally, Farther Finance Advisors LLC increased its position in shares of Hess Midstream Partners by 124.4% during the second quarter. Farther Finance Advisors LLC now owns 2,363 shares of the company’s stock worth $91,000 after purchasing an additional 1,310 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Partners Stock Performance

NYSE:HESM opened at $33.68 on Friday. The company has a debt-to-equity ratio of 8.83, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 11.94 and a beta of 0.62. The firm’s fifty day moving average price is $33.52 and its 200 day moving average price is $37.46. Hess Midstream Partners LP has a 1-year low of $31.63 and a 1-year high of $44.14.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, November 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. Hess Midstream Partners had a net margin of 20.46% and a return on equity of 69.03%. The company had revenue of $420.90 million during the quarter, compared to analysts’ expectations of $424.36 million. During the same quarter last year, the business earned $0.63 EPS. The business’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts expect that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, November 6th were given a dividend of $0.7548 per share. This represents a $3.02 annualized dividend and a yield of 9.0%. The ex-dividend date was Thursday, November 6th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.74. Hess Midstream Partners’s payout ratio is presently 107.09%.

Analyst Ratings Changes

HESM has been the subject of a number of research analyst reports. The Goldman Sachs Group assumed coverage on Hess Midstream Partners in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $36.00 target price for the company. Citigroup lowered their target price on shares of Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. UBS Group reiterated a “neutral” rating and issued a $43.00 price target (down previously from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday, September 10th. JPMorgan Chase & Co. raised their price objective on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Finally, Raymond James Financial restated an “outperform” rating and issued a $35.00 price objective (down from $48.00) on shares of Hess Midstream Partners in a research note on Friday, October 24th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Hess Midstream Partners currently has an average rating of “Hold” and a consensus price target of $40.57.

Hess Midstream Partners Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.