Lazard Asset Management LLC Purchases 980,929 Shares of Hess Midstream Partners LP $HESM

Lazard Asset Management LLC increased its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 1,110.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,069,244 shares of the company’s stock after purchasing an additional 980,929 shares during the period. Lazard Asset Management LLC’s holdings in Hess Midstream Partners were worth $41,562,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HESM. Miller Howard Investments Inc. NY lifted its stake in Hess Midstream Partners by 3.2% in the 1st quarter. Miller Howard Investments Inc. NY now owns 1,491,899 shares of the company’s stock valued at $57,990,000 after purchasing an additional 45,584 shares during the last quarter. UBS Group AG grew its holdings in Hess Midstream Partners by 3.5% during the fourth quarter. UBS Group AG now owns 2,038,226 shares of the company’s stock worth $70,319,000 after purchasing an additional 68,984 shares during the period. Inspire Investing LLC bought a new position in Hess Midstream Partners during the fourth quarter worth about $2,706,000. Exchange Traded Concepts LLC increased its position in Hess Midstream Partners by 34.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 176,980 shares of the company’s stock worth $6,106,000 after buying an additional 45,116 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Hess Midstream Partners by 3.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock worth $313,301,000 after buying an additional 330,802 shares during the last quarter. 98.97% of the stock is owned by institutional investors.

Hess Midstream Partners Stock Up 0.6%

Hess Midstream Partners stock opened at $40.05 on Wednesday. The company’s 50-day moving average price is $38.74 and its two-hundred day moving average price is $38.07. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97. The stock has a market cap of $8.26 billion, a P/E ratio of 13.86 and a beta of 0.53. Hess Midstream Partners LP has a twelve month low of $31.63 and a twelve month high of $44.14.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The company had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $389.51 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, analysts expect that Hess Midstream Partners LP will post 2.86 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, August 6th will be issued a dividend of $0.7888 per share. This represents a $3.16 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend is Thursday, August 6th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. Hess Midstream Partners’s payout ratio is 107.96%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports 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 objective on the stock. in a research note on Monday, April 20th. Morgan Stanley reiterated an “underweight” rating and set a $39.00 target price on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $38.86.

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.