Y Intercept Hong Kong Ltd Takes Position in Hess Midstream Partners LP $HESM

Y Intercept Hong Kong Ltd purchased a new stake in Hess Midstream Partners LP (NYSE:HESM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 108,258 shares of the company’s stock, valued at approximately $4,208,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Alps Advisors Inc. lifted its holdings in Hess Midstream Partners by 3.4% in the fourth quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock valued at $1,045,457,000 after acquiring an additional 1,007,846 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Hess Midstream Partners by 3.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock worth $313,301,000 after purchasing an additional 330,802 shares during the period. Invesco Ltd. grew its stake in shares of Hess Midstream Partners by 10.7% during the 4th quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock worth $228,385,000 after purchasing an additional 641,092 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Hess Midstream Partners in the 3rd quarter valued at about $187,691,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Hess Midstream Partners in the 4th quarter valued at about $92,288,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HESM shares. Morgan Stanley downgraded shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective on the stock. in a report on Wednesday, June 10th. The Goldman Sachs Group cut shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price for the company. in a report on Monday, April 20th. Wells Fargo & Company increased their target price on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. One equities research 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, Hess Midstream Partners currently has an average rating of “Reduce” and an average price target of $38.71.

Hess Midstream Partners Price Performance

Hess Midstream Partners stock opened at $38.14 on Monday. The company has a market cap of $7.86 billion, a price-to-earnings 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. The firm has a 50 day moving average price of $38.44 and a 200 day moving average price of $37.42. 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 issued its 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. The business had revenue of $390.10 million for the quarter, compared to analyst estimates of $389.51 million. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.65 EPS. Sell-side analysts predict that Hess Midstream Partners LP will post 2.99 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were given a $0.7792 dividend. 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 annualized dividend and a dividend yield of 8.2%. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 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.