LGT Fund Management Co Ltd. Takes $2.19 Million Position in Hess Midstream Partners LP $HESM

LGT Fund Management Co Ltd. purchased a new position in shares of Hess Midstream Partners LP (NYSE:HESM) during the first quarter, HoldingsChannel reports. The firm purchased 56,358 shares of the company’s stock, valued at approximately $2,191,000.

Several other large investors have also recently added to or reduced their stakes in HESM. Strategic Advocates LLC acquired a new stake in Hess Midstream Partners in the third quarter valued at about $28,000. Caitong International Asset Management Co. Ltd acquired a new position in Hess Midstream Partners during the 4th quarter worth approximately $44,000. IFP Advisors Inc increased its position in Hess Midstream Partners by 70.0% during the 4th 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 raised its stake in shares of Hess Midstream Partners by 124.4% during the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after buying an additional 1,200 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after buying an additional 300 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Trading Down 0.0%

NYSE:HESM opened at $38.61 on Monday. Hess Midstream Partners LP has a 52-week low of $31.63 and a 52-week high of $44.14. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97. The stock has a fifty day simple moving average of $38.55 and a 200-day simple moving average of $37.58. The company has a market capitalization of $7.96 billion, a PE ratio of 13.36 and a beta of 0.53.

Hess Midstream Partners (NYSE:HESM) last posted its earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The firm had revenue of $390.10 million during the quarter, compared to the consensus estimate of $389.51 million. During the same period last year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Hess Midstream Partners LP will post 2.99 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were given a $0.7792 dividend. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 8.1%. The ex-dividend date was Thursday, May 7th. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 107.96%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HESM shares. Morgan Stanley lowered 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 downgraded 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Hess Midstream Partners 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.