Miller Howard Investments Inc. NY Purchases 45,584 Shares of Hess Midstream Partners LP $HESM

Miller Howard Investments Inc. NY increased its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,491,899 shares of the company’s stock after buying an additional 45,584 shares during the quarter. Hess Midstream Partners comprises about 1.6% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 22nd biggest position. Miller Howard Investments Inc. NY’s holdings in Hess Midstream Partners were worth $57,990,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strategic Advocates LLC acquired a new stake in Hess Midstream Partners in the third quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hess Midstream Partners during the fourth quarter worth approximately $44,000. IFP Advisors Inc raised 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 purchasing an additional 582 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Hess Midstream Partners by 124.4% in the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Price Performance

HESM opened at $38.00 on Wednesday. Hess Midstream Partners LP has a fifty-two week low of $31.63 and a fifty-two week high of $44.14. The firm has a 50-day moving average of $38.41 and a 200 day moving average of $37.23. 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 market cap of $7.83 billion, a P/E ratio of 13.15 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.68 EPS 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 net margin of 22.64% and a return on equity of 84.47%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. On average, research analysts expect that Hess Midstream Partners LP will post 2.99 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business 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 annualized dividend and a dividend yield of 8.2%. The ex-dividend date was Thursday, May 7th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s dividend payout ratio (DPR) is 107.96%.

Analyst Ratings Changes

A number of brokerages have commented on HESM. Wells Fargo & Company boosted their price target 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. The Goldman Sachs Group lowered shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective on the stock. in a research note on Monday, April 20th. Zacks Research raised shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Weiss Ratings raised shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley cut shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price target on the stock. in a research report on Wednesday, June 10th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $38.71.

About Hess Midstream Partners

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.