BROOKFIELD Corp ON Sells 252,431 Shares of Hess Midstream Partners LP $HESM

BROOKFIELD Corp ON decreased its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 25.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 720,858 shares of the company’s stock after selling 252,431 shares during the period. BROOKFIELD Corp ON owned approximately 0.35% of Hess Midstream Partners worth $28,020,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada raised its position in Hess Midstream Partners by 33.7% in the 1st quarter. Royal Bank of Canada now owns 129,902 shares of the company’s stock valued at $5,494,000 after buying an additional 32,740 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Hess Midstream Partners during the 1st quarter worth approximately $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Hess Midstream Partners by 20.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,741 shares of the company’s stock worth $9,504,000 after acquiring an additional 37,794 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Hess Midstream Partners by 21.6% during the 2nd quarter. Geode Capital Management LLC now owns 5,778 shares of the company’s stock worth $223,000 after acquiring an additional 1,026 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Hess Midstream Partners by 10.6% in the second quarter. Creative Planning now owns 8,596 shares of the company’s stock valued at $331,000 after purchasing an additional 826 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Partners Price Performance

NYSE:HESM opened at $40.67 on Monday. Hess Midstream Partners LP has a 1-year low of $31.63 and a 1-year high of $44.14. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97. The firm has a fifty day simple moving average of $38.77 and a 200 day simple moving average of $37.98. The stock has a market capitalization of $8.38 billion, a PE ratio of 14.07 and a beta of 0.53.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The business had revenue of $390.10 million for the quarter, compared to the consensus estimate of $389.51 million. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts expect that Hess Midstream Partners LP will post 2.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HESM. The Goldman Sachs Group lowered shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective on the stock. in a research report on Monday, April 20th. Morgan Stanley reaffirmed an “underweight” rating and issued a $39.00 target price on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $38.86.

About Hess Midstream Partners

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.