First Trust Advisors LP Buys 247,973 Shares of Hess Midstream Partners LP $HESM

First Trust Advisors LP grew its position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 34.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 959,321 shares of the company's stock after purchasing an additional 247,973 shares during the period. First Trust Advisors LP owned approximately 0.46% of Hess Midstream Partners worth $37,289,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in HESM. Adage Capital Partners GP L.L.C. bought a new position in Hess Midstream Partners during the fourth quarter valued at approximately $92,288,000. Bank of New York Mellon Corp increased its stake in Hess Midstream Partners by 67.5% in the 1st quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company's stock worth $145,840,000 after acquiring an additional 1,512,007 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Hess Midstream Partners by 3.4% during the 4th quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company's stock worth $1,045,457,000 after acquiring an additional 1,007,846 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Hess Midstream Partners by 179.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,209,075 shares of the company's stock worth $46,561,000 after acquiring an additional 776,924 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Hess Midstream Partners by 10.7% during the 4th quarter. Invesco Ltd. now owns 6,619,868 shares of the company's stock valued at $228,385,000 after acquiring an additional 641,092 shares during the last quarter. 98.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HESM shares. The Goldman Sachs Group lowered shares of Hess Midstream Partners from a "neutral" rating to a "sell" rating and set a $32.00 target price for the company. in a report on Monday, April 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. Finally, Morgan Stanley reiterated an "underweight" rating and set a $39.00 price objective on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $38.86.

Hess Midstream Partners Trading Down 2.2%

Shares of HESM stock opened at $39.74 on Tuesday. The company has a market cap of $8.19 billion, a PE ratio of 13.75 and a beta of 0.53. Hess Midstream Partners LP has a 1 year low of $31.63 and a 1 year high of $44.14. The stock's 50 day simple moving average is $38.75 and its two-hundred day simple moving average is $38.03. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.03. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The firm had revenue of $390.10 million during the quarter, compared to analysts' expectations of $389.51 million. During the same quarter in the previous year, the business earned $0.65 EPS. The company's quarterly revenue was up 2.1% on a year-over-year basis. Research analysts predict that Hess Midstream Partners LP will post 2.87 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.7888 per share. The ex-dividend date of this dividend is Thursday, August 6th. This is a positive change 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 payout ratio is presently 107.96%.

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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