Hess Midstream Partners LP $HESM Shares Bought by PFG Investments LLC

PFG Investments LLC raised its stake in Hess Midstream Partners LP (NYSE:HESM) by 98.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,866 shares of the company’s stock after buying an additional 20,722 shares during the period. PFG Investments LLC’s holdings in Hess Midstream Partners were worth $1,627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HESM. Royal Bank of Canada boosted its stake in shares of Hess Midstream Partners by 33.7% during the 1st quarter. Royal Bank of Canada now owns 129,902 shares of the company’s stock worth $5,494,000 after acquiring an additional 32,740 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Hess Midstream Partners in the 1st quarter valued at approximately $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Hess Midstream Partners by 20.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,741 shares of the company’s stock valued at $9,504,000 after purchasing an additional 37,794 shares in the last quarter. Geode Capital Management LLC raised its holdings in Hess Midstream Partners by 21.6% during the second quarter. Geode Capital Management LLC now owns 5,778 shares of the company’s stock worth $223,000 after purchasing an additional 1,026 shares during the last quarter. Finally, Creative Planning raised its holdings in Hess Midstream Partners by 10.6% during the second quarter. Creative Planning now owns 8,596 shares of the company’s stock worth $331,000 after purchasing an additional 826 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley lowered Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 target price on the stock. in a report on Wednesday, June 10th. The Goldman Sachs Group downgraded Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target for the company. in a research note on Monday, April 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. Finally, Wells Fargo & Company increased their price objective on shares of 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. One investment 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. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $38.71.

Hess Midstream Partners Price Performance

HESM stock opened at $38.14 on Friday. The stock’s 50 day moving average price is $38.44 and its 200 day moving average price is $37.40. The firm has a market cap of $7.86 billion, a P/E ratio of 13.20 and a beta of 0.53. 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 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 quarterly earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $389.51 million. During the same quarter last year, the business posted $0.65 earnings per share. Hess Midstream Partners’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Hess Midstream Partners LP will post 2.99 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were paid a dividend of $0.7792 per share. 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 8.2%. Hess Midstream Partners’s dividend payout ratio is 107.96%.

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.