BI Asset Management Fondsmaeglerselskab A S Increases Position in Hess Midstream Partners LP $HESM

BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 224.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 399,951 shares of the company’s stock after buying an additional 276,868 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Hess Midstream Partners were worth $13,818,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in Hess Midstream Partners by 5.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 66,125 shares of the company’s stock worth $2,285,000 after acquiring an additional 3,546 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Hess Midstream Partners by 58.4% during the third quarter. Thrivent Financial for Lutherans now owns 146,007 shares of the company’s stock worth $5,044,000 after purchasing an additional 53,807 shares during the period. Lee Financial Co lifted its position in shares of Hess Midstream Partners by 25.5% during the third quarter. Lee Financial Co now owns 8,385 shares of the company’s stock worth $290,000 after purchasing an additional 1,705 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Hess Midstream Partners by 1.3% in the third quarter. Arizona State Retirement System now owns 36,850 shares of the company’s stock valued at $1,273,000 after purchasing an additional 460 shares during the period. Finally, Truist Financial Corp acquired a new position in shares of Hess Midstream Partners in the third quarter valued at approximately $247,000. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on HESM shares. Zacks Research cut shares of Hess Midstream Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Hess Midstream Partners in a research note on Monday, December 29th. Raymond James Financial cut Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Finally, Wall Street Zen downgraded Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Seven investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $40.57.

Hess Midstream Partners Trading Down 3.2%

NYSE:HESM opened at $34.92 on Friday. Hess Midstream Partners LP has a 1 year low of $31.63 and a 1 year high of $44.14. The stock has a market cap of $7.25 billion, a P/E ratio of 12.21 and a beta of 0.62. The company has a debt-to-equity ratio of 8.83, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50-day simple moving average of $34.53 and a 200-day simple moving average of $36.14.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. Hess Midstream Partners had a return on equity of 73.17% and a net margin of 21.77%.The firm had revenue of $374.50 million during the quarter, compared to the consensus estimate of $419.16 million. During the same period in the prior year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, February 5th will be paid a $0.7641 dividend. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.75. This represents a $3.06 annualized dividend and a yield of 8.8%. The ex-dividend date is Thursday, February 5th. Hess Midstream Partners’s payout ratio is currently 105.59%.

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.