Hess Midstream Partners LP $HESM Shares Purchased by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Hess Midstream Partners stake by 25.1% in the first quarter, bringing its holdings to 238,724 shares valued at approximately $9.3 million. Institutional investors collectively own 98.97% of the company.
• Hess Midstream reported quarterly EPS of $0.75, beating analyst expectations of $0.67, while revenue of $399 million also exceeded estimates. However, revenue declined 3.7% year over year.
• The company raised its quarterly dividend to $0.7888 per share, representing an annualized dividend of $3.16 and a 7.9% yield. Analysts remain cautious, with a consensus “Reduce” rating and a $38.86 target price versus the stock’s $39.87 opening price.

Royal Bank of Canada raised its position in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 25.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 238,724 shares of the company's stock after buying an additional 47,964 shares during the quarter. Royal Bank of Canada owned about 0.12% of Hess Midstream Partners worth $9,279,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hess Midstream Partners during the fourth quarter worth about $44,000. IFP Advisors Inc lifted its position in Hess Midstream Partners by 70.0% in the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company's stock valued at $49,000 after purchasing an additional 582 shares during the period. CENTRAL TRUST Co boosted its holdings in Hess Midstream Partners by 124.4% in the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company's stock valued at $84,000 after purchasing an additional 1,200 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings 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 valued at $92,000 after purchasing an additional 300 shares in the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in Hess Midstream Partners during the 4th quarter worth approximately $96,000. Hedge funds and other institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Stock Up 0.2%

Shares of NYSE:HESM opened at $39.87 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The company has a market capitalization of $8.22 billion, a P/E ratio of 13.75 and a beta of 0.52. Hess Midstream Partners LP has a 52-week low of $31.63 and a 52-week high of $42.22. The stock's fifty day simple moving average is $38.90 and its 200-day simple moving average is $38.40.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $0.75 earnings per share for the quarter, beating 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 firm had revenue of $399.00 million during the quarter, compared to the consensus estimate of $395.96 million. During the same quarter in the previous year, the company posted $0.74 EPS. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities research analysts forecast that Hess Midstream Partners LP will post 2.9 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, August 6th will be given a dividend of $0.7888 per share. This represents a $3.16 dividend on an annualized basis and a yield of 7.9%. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.78. The ex-dividend date is Thursday, August 6th. Hess Midstream Partners's dividend payout ratio (DPR) is 108.97%.

Analyst Ratings Changes

HESM has been the subject of a number of analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. The Goldman Sachs Group downgraded 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. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $39.00 price target on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $38.86.

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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