Hess Midstream Partners LP $HESM Stake Lifted by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its stake in Hess Midstream Partners LP (NYSE:HESM) by 42.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 325,566 shares of the company’s stock after purchasing an additional 97,012 shares during the period. NEOS Investment Management LLC’s holdings in Hess Midstream Partners were worth $12,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in Hess Midstream Partners by 25.1% during the 1st quarter. Royal Bank of Canada now owns 238,724 shares of the company’s stock valued at $9,279,000 after acquiring an additional 47,964 shares in the last quarter. Miller Howard Investments Inc. NY boosted its position in Hess Midstream Partners by 3.2% during the 1st quarter. Miller Howard Investments Inc. NY now owns 1,491,899 shares of the company’s stock worth $57,990,000 after acquiring an additional 45,584 shares during the period. Epoch Investment Partners Inc. grew its stake in shares of Hess Midstream Partners by 12.1% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,500,598 shares of the company’s stock worth $86,271,000 after purchasing an additional 269,216 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Hess Midstream Partners in the fourth quarter worth $2,706,000. Finally, TD Asset Management Inc increased its holdings in shares of Hess Midstream Partners by 10.0% during the fourth quarter. TD Asset Management Inc now owns 2,626,438 shares of the company’s stock valued at $90,612,000 after purchasing an additional 237,690 shares during the period. 98.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HESM has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. Morgan Stanley reiterated an “underweight” rating and issued a $39.00 target price on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Hess Midstream Partners presently has a consensus rating of “Reduce” and an average price target of $37.67.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $40.03 on Friday. Hess Midstream Partners LP has a twelve month low of $31.63 and a twelve month high of $41.44. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 9.39. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 13.80 and a beta of 0.52. The firm has a 50-day moving average of $39.67 and a two-hundred day moving average of $38.98.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The company had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $395.96 million. During the same quarter in the previous year, the company posted $0.74 EPS. The business’s revenue was down 3.7% compared to the same quarter last year. As a group, analysts expect that Hess Midstream Partners LP will post 2.94 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, August 14th. Shareholders of record on Thursday, August 6th were issued a $0.7888 dividend. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend was Thursday, August 6th. 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.