Barclays PLC Boosts Position in Hess Midstream Partners LP $HESM

Key Points

• Barclays PLC increased its stake in Hess Midstream Partners by 27.1% to 736,060 shares (worth $25.43M), and institutional investors now own about 98.97% of the company.
• Hess Midstream raised its quarterly dividend to $0.7641 (annualized $3.06) for a 7.8% yield106.99%.
• The company reported Q results with EPS $0.72 (in line with estimates) while revenue of $374.5M missed expectations; the stock trades at a ~$8.17B market cap with a consensus "Hold" rating and $40.57 price target.

Barclays PLC grew its stake in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 27.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 736,060 shares of the company's stock after buying an additional 156,780 shares during the quarter. Barclays PLC owned 0.35% of Hess Midstream Partners worth $25,431,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Holdings LLC increased its stake in Hess Midstream Partners by 3.6% during the 3rd quarter. Pinnacle Holdings LLC now owns 89,096 shares of the company's stock worth $3,078,000 after buying an additional 3,079 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in Hess Midstream Partners in the third quarter valued at approximately $690,000. American Century Companies Inc. raised its holdings in Hess Midstream Partners by 13.0% in the 3rd quarter. American Century Companies Inc. now owns 696,628 shares of the company's stock valued at $24,068,000 after buying an additional 79,913 shares during the period. US Bancorp DE purchased a new stake in shares of Hess Midstream Partners in the 3rd quarter valued at approximately $173,000. Finally, Citigroup Inc. lifted its stake in Hess Midstream Partners by 449.9% during the third quarter. Citigroup Inc. now owns 228,779 shares of the company's stock worth $7,904,000 after purchasing an additional 187,179 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

Hess Midstream Partners Stock Performance

HESM opened at $39.33 on Thursday. Hess Midstream Partners LP has a 1-year low of $31.63 and a 1-year high of $44.14. The stock has a market cap of $8.17 billion, a P/E ratio of 13.75 and a beta of 0.60. The stock's 50 day simple moving average is $36.26 and its 200 day simple moving average is $35.54. The company has a debt-to-equity ratio of 8.54, a current ratio of 0.85 and a quick ratio of 0.85.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced 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. The company had revenue of $374.50 million during the quarter, compared to analysts' expectations of $419.16 million. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. As a group, equities analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have commented on HESM shares. Raymond James Financial cut shares of Hess Midstream Partners from an "outperform" rating to a "market perform" rating in a research report on Monday, January 5th. Zacks Research raised shares of Hess Midstream Partners from a "strong sell" rating to a "hold" rating in a report on Monday, March 2nd. Weiss Ratings raised Hess Midstream Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. Finally, Wall Street Zen downgraded shares of Hess Midstream Partners from a "buy" rating to a "hold" rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $40.57.

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.

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