Hess Midstream Partners LP (NYSE:HESM) Sees Large Growth in Short Interest

Hess Midstream Partners LP (NYSE:HESM) saw a large growth in short interest in October. As of October 15th, there was short interest totaling 12,754,528 shares, a growth of 65.7% from the September 30th total of 7,695,343 shares. Currently, 6.2% of the shares of the company are short sold. Based on an average trading volume of 3,393,816 shares, the days-to-cover ratio is presently 3.8 days.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HESM shares. JPMorgan Chase & Co. downgraded shares of Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 price target on the stock. in a report on Friday, October 2nd. Raymond James Financial raised shares of Hess Midstream Partners from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Friday, October 23rd. Morgan Stanley reduced their price objective on shares of Hess Midstream Partners from $39.00 to $30.00 and set an “underweight” rating for the company in a research note on Tuesday, October 13th. UBS Group decreased their price objective on shares of Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Finally, Citigroup lowered their target price on shares of Hess Midstream Partners from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Hess Midstream Partners presently has a consensus rating of “Reduce” and a consensus target price of $34.00.

Hess Midstream Partners Stock Performance

NYSE:HESM opened at $32.70 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 9.39. Hess Midstream Partners has a 12-month low of $29.52 and a 12-month high of $41.44. The stock has a 50-day moving average price of $36.26 and a 200 day moving average price of $37.92. The stock has a market capitalization of $6.74 billion, a P/E ratio of 11.20 and a beta of 0.68.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings results on Friday, October 30th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Hess Midstream Partners had a return on equity of 94.12% and a net margin of 23.49%. The company had revenue of $410.10 million for the quarter, compared to analysts’ expectations of $404.67 million. During the same period in the previous year, the firm earned $0.75 EPS. The firm’s revenue was down 2.6% compared to the same quarter last year. Equities research analysts forecast that Hess Midstream Partners will post 3.29 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.7985 per share. The ex-dividend date is Thursday, November 5th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.7888. This represents a $3.19 annualized dividend and a dividend yield of 9.8%. Hess Midstream Partners’s dividend payout ratio (DPR) is 108.22%.

Hedge Funds Weigh In On Hess Midstream Partners

A number of hedge funds and other institutional investors have recently modified their holdings of HESM. Alps Advisors Inc. boosted its position in shares of Hess Midstream Partners by 4.0% during the third quarter. Alps Advisors Inc. now owns 30,427,712 shares of the company’s stock valued at $1,137,084,000 after buying an additional 1,173,638 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Hess Midstream Partners by 67.5% in the first quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock worth $145,840,000 after buying an additional 1,512,007 shares during the period. Miller Howard Investments Inc. NY raised its holdings in shares of Hess Midstream Partners by 1.8% in the third quarter. Miller Howard Investments Inc. NY now owns 1,586,630 shares of the company’s stock worth $59,292,000 after buying an additional 28,499 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Hess Midstream Partners by 1,110.7% in the first quarter. Lazard Asset Management LLC now owns 1,069,244 shares of the company’s stock worth $41,562,000 after buying an additional 980,929 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Hess Midstream Partners by 34.9% during the 1st quarter. First Trust Advisors LP now owns 959,321 shares of the company’s stock worth $37,289,000 after acquiring an additional 247,973 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP (NYSE:HESM) is a midstream energy company that owns and operates infrastructure supporting oil and gas production, primarily in the Bakken and Three Forks shale plays of North Dakota. The company provides essential services between the wellhead and downstream markets rather than exploring for or producing hydrocarbons itself.

Its operations include gathering, processing, storage and transportation services for crude oil, natural gas and natural gas liquids. Hess Midstream also provides produced-water gathering and disposal services, helping manage water generated during oil and gas production.