Hess Midstream Partners LP $HESM Shares Bought by Osaic Holdings Inc.

Osaic Holdings Inc. grew its position in Hess Midstream Partners LP (NYSE:HESM) by 17.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,939 shares of the company’s stock after buying an additional 17,314 shares during the period. Osaic Holdings Inc.’s holdings in Hess Midstream Partners were worth $4,465,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Hess Midstream Partners by 6.2% in the first quarter. Vanguard Group Inc. now owns 706,507 shares of the company’s stock worth $29,878,000 after acquiring an additional 41,405 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Hess Midstream Partners by 64.2% in the 1st quarter. Russell Investments Group Ltd. now owns 17,796 shares of the company’s stock valued at $753,000 after purchasing an additional 6,958 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Hess Midstream Partners by 5.9% during the 1st quarter. Raymond James Financial Inc. now owns 371,011 shares of the company’s stock worth $15,690,000 after purchasing an additional 20,601 shares during the period. Northern Trust Corp grew its holdings in shares of Hess Midstream Partners by 223.6% during the 1st quarter. Northern Trust Corp now owns 276,809 shares of the company’s stock worth $11,706,000 after purchasing an additional 191,259 shares during the period. Finally, FORA Capital LLC acquired a new stake in shares of Hess Midstream Partners during the 1st quarter worth about $221,000. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on HESM. The Goldman Sachs Group began coverage on shares of Hess Midstream Partners in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $36.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Hess Midstream Partners in a report on Monday. Raymond James Financial reaffirmed an “outperform” rating and set a $35.00 price objective (down previously from $48.00) on shares of Hess Midstream Partners in a research report on Friday, October 24th. Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Wells Fargo & Company cut Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Hess Midstream Partners presently has a consensus rating of “Hold” and an average target price of $40.57.

Hess Midstream Partners Price Performance

Shares of HESM opened at $34.45 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 8.83. Hess Midstream Partners LP has a fifty-two week low of $31.63 and a fifty-two week high of $44.14. The company has a market cap of $7.15 billion, a P/E ratio of 12.22 and a beta of 0.62. The firm’s 50 day moving average price is $33.65 and its 200 day moving average price is $36.96.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. The business had revenue of $420.90 million during the quarter, compared to the consensus estimate of $424.36 million. Hess Midstream Partners had a net margin of 20.46% and a return on equity of 69.03%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, research analysts forecast that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, November 6th were issued a dividend of $0.7548 per share. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.74. The ex-dividend date was Thursday, November 6th. This represents a $3.02 annualized dividend and a yield of 8.8%. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 107.09%.

Hess Midstream Partners Company 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.