Y Intercept Hong Kong Ltd Acquires New Holdings in Hess Midstream Partners LP $HESM

Y Intercept Hong Kong Ltd bought a new stake in Hess Midstream Partners LP (NYSE:HESM) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 108,258 shares of the company’s stock, valued at approximately $4,208,000. Y Intercept Hong Kong Ltd owned about 0.05% of Hess Midstream Partners at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Strategic Advocates LLC purchased a new stake in shares of Hess Midstream Partners in the 3rd quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hess Midstream Partners during the 4th quarter worth approximately $44,000. IFP Advisors Inc increased its holdings in Hess Midstream Partners by 70.0% in the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after purchasing an additional 582 shares during the last quarter. CENTRAL TRUST Co increased its holdings in Hess Midstream Partners by 124.4% in the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Price Performance

Hess Midstream Partners stock opened at $38.14 on Monday. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $44.14. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day simple moving average of $38.44 and a 200-day simple moving average of $37.42. The stock has a market capitalization of $7.86 billion, a PE ratio of 13.20 and a beta of 0.53.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share 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 analyst estimates of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. Hess Midstream Partners’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS. Equities analysts predict that Hess Midstream Partners LP will post 2.99 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were paid a dividend of $0.7792 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.2%. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. The ex-dividend date was Thursday, May 7th. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 107.96%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HESM shares. Wells Fargo & Company raised their price target on Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. The Goldman Sachs Group lowered Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price on the stock. in a research note on Monday, April 20th. Finally, Morgan Stanley cut Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 target price for the company. in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Hess Midstream Partners presently has an average rating of “Reduce” and an average target price of $38.71.

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.