Hess Midstream Partners LP $HESM Shares Purchased by Royal Bank of Canada

Royal Bank of Canada lifted its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 25.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 238,724 shares of the company’s stock after acquiring an additional 47,964 shares during the period. Royal Bank of Canada’s holdings in Hess Midstream Partners were worth $9,279,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HESM. Caitong International Asset Management Co. Ltd acquired a new position in Hess Midstream Partners during the fourth quarter worth approximately $44,000. IFP Advisors Inc lifted its holdings in shares of Hess Midstream Partners by 70.0% during the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after acquiring an additional 582 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of Hess Midstream Partners by 124.4% in the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after buying an additional 1,200 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after acquiring an additional 300 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Hess Midstream Partners during the fourth quarter valued at approximately $96,000. 98.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Hess Midstream Partners Stock Performance

Shares of HESM stock opened at $39.87 on Monday. Hess Midstream Partners LP has a 12-month low of $31.63 and a 12-month high of $42.22. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 13.75 and a beta of 0.52. The business has a 50 day simple moving average of $38.90 and a 200 day simple moving average of $38.40. The company has a debt-to-equity ratio of 9.39, a current ratio of 0.77 and a quick ratio of 0.77.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The company had revenue of $399.00 million during the quarter, compared to analyst estimates of $395.96 million. During the same quarter in the previous year, the firm posted $0.74 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities research analysts anticipate that Hess Midstream Partners LP will post 2.9 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, August 6th will be issued a $0.7888 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a yield of 7.9%. Hess Midstream Partners’s dividend payout ratio is currently 108.97%.

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.