57,215 Shares in Hess Midstream Partners LP $HESM Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new position in shares of Hess Midstream Partners LP (NYSE:HESM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 57,215 shares of the company’s stock, valued at approximately $1,977,000.

Other institutional investors have also recently bought and sold shares of the company. Marquette Asset Management LLC bought a new position in shares of Hess Midstream Partners during the third quarter worth $30,000. Geneos Wealth Management Inc. increased its position in shares of Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after buying an additional 300 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Hess Midstream Partners by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company’s stock valued at $93,000 after buying an additional 333 shares in the last quarter. Virtus Investment Advisers LLC raised its stake in Hess Midstream Partners by 7.6% during the 2nd quarter. Virtus Investment Advisers LLC now owns 4,456 shares of the company’s stock worth $172,000 after buying an additional 315 shares during the period. Finally, US Bancorp DE acquired a new stake in Hess Midstream Partners during the 3rd quarter worth $173,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Wells Fargo & Company raised their price target on Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday. Raymond James Financial cut Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Finally, Zacks Research upgraded Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Hess Midstream Partners has a consensus rating of “Hold” and a consensus target price of $40.71.

Hess Midstream Partners Trading Up 0.9%

HESM opened at $39.32 on Tuesday. The stock has a market capitalization of $8.17 billion, a P/E ratio of 13.75 and a beta of 0.60. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.54. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $44.14. The firm’s fifty day simple moving average is $36.55 and its 200 day simple moving average is $35.45.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.72. Hess Midstream Partners had a return on equity of 74.89% and a net margin of 21.77%.The firm had revenue of $374.50 million during the quarter, compared to analysts’ expectations of $419.16 million. During the same quarter in the prior year, the company earned $0.68 EPS. The company’s revenue was up 2.1% on a year-over-year basis. As a group, research analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Thursday, February 5th were given a dividend of $0.7641 per share. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.75. This represents a $3.06 annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend was Thursday, February 5th. Hess Midstream Partners’s payout ratio is currently 106.99%.

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.