Hess Midstream Partners LP $HESM Shares Sold by CI Investments Inc.

CI Investments Inc. cut its position in Hess Midstream Partners LP (NYSE:HESM) by 1.3% during the 1st quarter, HoldingsChannel reports. The firm owned 1,551,776 shares of the company’s stock after selling 20,394 shares during the quarter. CI Investments Inc.’s holdings in Hess Midstream Partners were worth $60,318,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hess Midstream Partners in the fourth quarter valued at approximately $44,000. IFP Advisors Inc boosted its position in shares of Hess Midstream Partners by 70.0% during the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock worth $49,000 after buying an additional 582 shares during the period. CENTRAL TRUST Co boosted its position in shares of Hess Midstream Partners by 124.4% during the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after buying an additional 1,200 shares during the period. Geneos Wealth Management Inc. boosted 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 buying an additional 300 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. bought a new position in Hess Midstream Partners in the 4th quarter worth approximately $96,000. 98.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HESM has been the topic of several analyst reports. The Goldman Sachs Group cut Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price on the stock. in a research report 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, Morgan Stanley reissued an “underweight” rating and issued a $39.00 price target on shares of Hess Midstream Partners in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Hess Midstream Partners currently has an average rating of “Reduce” and an average price target of $38.86.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $39.94 on Wednesday. Hess Midstream Partners LP has a twelve month low of $31.63 and a twelve month high of $44.14. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 13.82 and a beta of 0.53. The firm has a 50-day moving average of $38.69 and a two-hundred day moving average of $37.85.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. The company had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. As a group, analysts expect that Hess Midstream Partners LP will post 2.9 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were issued 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 7.8%. Hess Midstream Partners’s 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.