BI Asset Management Fondsmaeglerselskab A S Cuts Stock Holdings in Hess Midstream Partners LP $HESM

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 63.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 146,188 shares of the company's stock after selling 253,763 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.07% of Hess Midstream Partners worth $5,043,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake 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 last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Hess Midstream Partners by 1.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 25,766 shares of the company's stock valued at $889,000 after purchasing an additional 330 shares in the last quarter. Investment Management Corp VA ADV increased its position in Hess Midstream Partners by 3.0% in the fourth quarter. Investment Management Corp VA ADV now owns 12,519 shares of the company's stock worth $432,000 after purchasing an additional 362 shares during the last quarter. Creative Planning increased its position in Hess Midstream Partners by 4.7% in the third quarter. Creative Planning now owns 9,000 shares of the company's stock worth $311,000 after purchasing an additional 404 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Hess Midstream Partners by 6.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 8,001 shares of the company's stock valued at $276,000 after purchasing an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Price Performance

Hess Midstream Partners stock opened at $38.81 on Monday. Hess Midstream Partners LP has a 12-month low of $31.63 and a 12-month 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 50-day moving average price of $38.76 and a 200-day moving average price of $36.83. The firm has a market capitalization of $8.00 billion, a PE ratio of 13.43 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, beating the consensus estimate 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 company had revenue of $390.10 million for the quarter, compared to the consensus estimate of $389.51 million. During the same period in the prior year, the firm posted $0.65 EPS. The firm's revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Hess Midstream Partners LP will post 2.99 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were paid a dividend of $0.7792 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.0%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.76. Hess Midstream Partners's dividend payout ratio is 107.61%.

Analysts Set New Price Targets

A number of brokerages have commented on HESM. Weiss Ratings raised shares of Hess Midstream Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. The Goldman Sachs Group cut shares of 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. Zacks Research raised shares of Hess Midstream Partners from a "strong sell" rating to a "hold" rating in a report on Monday, March 2nd. Wells Fargo & Company lifted their price target on Hess Midstream Partners from $39.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, March 13th. Finally, Morgan Stanley decreased their price objective on Hess Midstream Partners from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $38.71.

Hess Midstream Partners 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.

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