LGT Fund Management Co Ltd. Invests $2.19 Million in Hess Midstream Partners LP $HESM

LGT Fund Management Co Ltd. bought a new stake in Hess Midstream Partners LP (NYSE:HESM) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 56,358 shares of the company’s stock, valued at approximately $2,191,000.

Other hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its position in Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after acquiring an additional 300 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of 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 purchasing an additional 330 shares during the last quarter. Investment Management Corp VA ADV grew its holdings in shares of 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 purchasing an additional 362 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Hess Midstream Partners by 0.8% during the fourth quarter. Cetera Investment Advisers now owns 44,931 shares of the company’s stock worth $1,550,000 after purchasing an additional 378 shares during the last quarter. Finally, Creative Planning increased its position in shares of 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 purchasing an additional 404 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Price Performance

Shares of NYSE:HESM opened at $38.61 on Monday. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $44.14. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 13.36 and a beta of 0.53. The company has a 50-day simple moving average of $38.55 and a 200-day simple moving average of $37.58. 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) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. The firm had revenue of $390.10 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $0.65 EPS. On average, analysts predict that Hess Midstream Partners LP will post 2.99 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were issued a $0.7792 dividend. 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.1%. Hess Midstream Partners’s dividend payout ratio is presently 107.96%.

Wall Street Analyst Weigh In

HESM has been the subject of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. 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. Finally, Morgan Stanley cut Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective for the company. in a research note on Wednesday, June 10th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $38.71.

Hess Midstream Partners 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.