Hsbc Holdings PLC Makes New $4.14 Million Investment in Hess Midstream Partners LP $HESM

Hsbc Holdings PLC purchased a new stake in shares of Hess Midstream Partners LP (NYSE:HESM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 109,596 shares of the company’s stock, valued at approximately $4,139,000.

A number of other hedge funds have also modified their holdings of the stock. Royal Bank of Canada boosted its position in Hess Midstream Partners by 25.1% during the first quarter. Royal Bank of Canada now owns 238,724 shares of the company’s stock valued at $9,279,000 after purchasing an additional 47,964 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in Hess Midstream Partners by 3.2% in the 1st quarter. Miller Howard Investments Inc. NY now owns 1,491,899 shares of the company’s stock worth $57,990,000 after purchasing an additional 45,584 shares during the last quarter. UBS Group AG increased 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 during the last quarter. Inspire Investing LLC purchased a new stake in shares of Hess Midstream Partners during the 4th quarter worth about $2,706,000. Finally, Epoch Investment Partners Inc. raised its stake in shares of Hess Midstream Partners by 12.1% during the 4th quarter. Epoch Investment Partners Inc. now owns 2,500,598 shares of the company’s stock worth $86,271,000 after purchasing an additional 269,216 shares in the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Partners Stock Down 0.7%

NYSE HESM opened at $39.57 on Friday. Hess Midstream Partners LP has a twelve month low of $31.63 and a twelve month high of $41.63. The stock has a market cap of $8.16 billion, a PE ratio of 13.64 and a beta of 0.52. The firm has a 50-day simple moving average of $39.42 and a 200 day simple moving average of $38.85. The company has a debt-to-equity ratio of 9.39, a quick ratio of 0.77 and a current ratio of 0.77.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $399.00 million for the quarter, compared to analyst estimates of $395.96 million. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 earnings per share. On average, research analysts forecast that Hess Midstream Partners LP will post 2.94 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.7888 per share. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date was Thursday, August 6th. Hess Midstream Partners’s dividend payout ratio is presently 108.62%.

Analyst Upgrades and Downgrades

HESM has been the topic of a number of research reports. Morgan Stanley restated an “underweight” rating and issued a $39.00 price objective on shares of Hess Midstream Partners in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $37.67.

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.