Hess Midstream Partners LP $HESM Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 48.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 26,650 shares of the company’s stock after selling 24,820 shares during the period. Hsbc Holdings PLC’s holdings in Hess Midstream Partners were worth $915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of HESM. Campbell Capital Management Inc. acquired a new stake in Hess Midstream Partners during the third quarter worth about $1,130,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Hess Midstream Partners in the third quarter valued at approximately $187,691,000. Cinctive Capital Management LP purchased a new stake in Hess Midstream Partners in the 3rd quarter worth approximately $1,977,000. UBS Group AG boosted its position in 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 purchasing an additional 68,984 shares in the last quarter. Finally, Algert Global LLC grew its stake in shares of Hess Midstream Partners by 18.2% during the 3rd quarter. Algert Global LLC now owns 211,238 shares of the company’s stock worth $7,298,000 after purchasing an additional 32,535 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Stock Performance

Shares of HESM stock opened at $39.25 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97. Hess Midstream Partners LP has a 12-month low of $31.63 and a 12-month high of $44.14. The business’s 50 day moving average is $38.55 and its two-hundred day moving average is $37.62. The company has a market capitalization of $8.09 billion, a P/E ratio of 13.58 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 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The business had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $389.51 million. During the same period in the previous year, the business earned $0.65 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Analysts expect that Hess Midstream Partners LP will post 2.99 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were issued a $0.7792 dividend. This represents a $3.12 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend was Thursday, May 7th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s payout ratio is presently 107.96%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. The Goldman Sachs Group downgraded shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target on the stock. in a report on Monday, April 20th. Finally, Morgan Stanley cut shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective for the company. in a report on Wednesday, June 10th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target 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.