Hess Midstream Partners LP $HESM Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 9.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 122,393 shares of the company’s stock after selling 12,936 shares during the quarter. Legal & General Group Plc’s holdings in Hess Midstream Partners were worth $4,223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after buying an additional 300 shares during the period. Kestra Private Wealth Services LLC increased its position in Hess Midstream Partners by 1.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 25,766 shares of the company’s stock worth $889,000 after buying an additional 330 shares during the period. Investment Management Corp VA ADV increased its position in Hess Midstream Partners by 3.0% during the fourth quarter. Investment Management Corp VA ADV now owns 12,519 shares of the company’s stock worth $432,000 after buying an additional 362 shares during the period. Creative Planning increased its position in Hess Midstream Partners by 4.7% during the third quarter. Creative Planning now owns 9,000 shares of the company’s stock worth $311,000 after buying an additional 404 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in Hess Midstream Partners by 6.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 8,001 shares of the company’s stock worth $276,000 after buying an additional 501 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Stock Up 0.2%

Hess Midstream Partners stock opened at $38.89 on Tuesday. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92. Hess Midstream Partners LP has a 1-year low of $31.63 and a 1-year high of $44.14. The company has a market cap of $8.02 billion, a PE ratio of 13.46 and a beta of 0.52. The stock’s 50 day moving average price is $38.74 and its 200 day moving average price is $36.87.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings results 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 firm had revenue of $390.10 million for the quarter, compared to the consensus estimate of $389.51 million. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. On average, sell-side analysts predict that Hess Midstream Partners LP will post 2.99 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were given a dividend of $0.7792 per share. The ex-dividend date was Thursday, May 7th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a yield of 8.0%. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 107.96%.

Analysts Set New Price Targets

Several research analysts have commented on HESM shares. The Goldman Sachs Group lowered Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target on the stock. in a research report on Monday, April 20th. Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Zacks Research upgraded Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Wells Fargo & Company lifted their target price on Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Finally, Morgan Stanley lowered their target price on Hess Midstream Partners from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.71.

Hess Midstream Partners Company Profile

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.