Hsbc Holdings PLC Buys New Shares in Hess Midstream Partners LP $HESM

Hsbc Holdings PLC bought a new position in shares of Hess Midstream Partners LP (NYSE:HESM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 109,596 shares of the company’s stock, valued at approximately $4,139,000. Hsbc Holdings PLC owned approximately 0.05% of Hess Midstream Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in HESM. Grove Bank & Trust bought a new position in shares of Hess Midstream Partners in the second quarter valued at $38,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hess Midstream Partners during the 4th quarter worth $44,000. IFP Advisors Inc grew its holdings in shares of Hess Midstream Partners by 70.0% in the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock worth $49,000 after acquiring an additional 582 shares during the last quarter. CENTRAL TRUST Co grew its holdings in shares of Hess Midstream Partners by 124.4% in the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of 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 purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Price Performance

HESM opened at $39.57 on Friday. The firm has a market capitalization of $8.16 billion, a P/E ratio of 13.64 and a beta of 0.52. The stock has a fifty day moving average of $39.42 and a 200-day moving average of $38.85. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. Hess Midstream Partners LP has a 12-month low of $31.63 and a 12-month high of $41.63.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $399.00 million for the quarter, compared to the consensus estimate of $395.96 million. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.Hess Midstream Partners’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Equities analysts forecast that Hess Midstream Partners LP will post 2.94 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.7888 per share. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $3.16 annualized dividend and a yield of 8.0%. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 108.62%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HESM shares. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. Morgan Stanley reaffirmed an “underweight” rating and set a $39.00 price objective on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $37.67.

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.