Walleye Capital LLC Cuts Holdings in Hess Midstream Partners LP $HESM

Walleye Capital LLC decreased its stake in Hess Midstream Partners LP (NYSE:HESM) by 93.2% in the 1st quarter, Holdings Channel reports. The firm owned 6,437 shares of the company’s stock after selling 87,656 shares during the quarter. Walleye Capital LLC’s holdings in Hess Midstream Partners were worth $250,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of HESM. Miller Howard Investments Inc. NY lifted its stake in shares of Hess Midstream Partners by 3.2% during the 1st quarter. Miller Howard Investments Inc. NY now owns 1,491,899 shares of the company’s stock worth $57,990,000 after purchasing an additional 45,584 shares during the period. UBS Group AG raised its position in shares of Hess Midstream Partners by 3.5% in the 4th quarter. UBS Group AG now owns 2,038,226 shares of the company’s stock worth $70,319,000 after buying an additional 68,984 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Hess Midstream Partners by 34.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 176,980 shares of the company’s stock worth $6,106,000 after purchasing an additional 45,116 shares during the period. Goldman Sachs Group Inc. lifted 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 valued at $313,301,000 after buying an additional 330,802 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC lifted its holdings in shares of Hess Midstream Partners by 51.9% during the 4th quarter. Longfellow Investment Management Co. LLC now owns 525,158 shares of the company’s stock valued at $18,118,000 after acquiring an additional 179,394 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Partners Stock Up 0.5%

Shares of NYSE:HESM opened at $40.67 on Friday. The company has a market cap of $8.38 billion, a PE ratio of 14.07 and a beta of 0.53. The firm has a 50 day simple moving average of $38.77 and a 200 day simple moving average of $37.95. 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 52 week low of $31.63 and a 52 week high of $44.14.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The firm had revenue of $390.10 million for the quarter, compared to the consensus estimate of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, research analysts expect that Hess Midstream Partners LP will post 2.87 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were issued a dividend of $0.7792 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.7%. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s payout ratio is currently 107.96%.

Analysts Set New Price Targets

HESM has been the subject of several analyst reports. Morgan Stanley restated an “underweight” rating and issued a $39.00 target price on shares of Hess Midstream Partners in a research note on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group downgraded Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price for the company. in a research note on Monday, April 20th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $38.86.

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.