Longfellow Investment Management Co. LLC Has $18.12 Million Position in Hess Midstream Partners LP $HESM

Key Points

• Longfellow Investment Management increased its Hess Midstream Partners stake by 51.9% in the fourth quarter, ending with 525,158 shares valued at about $18.1 million. The position now makes up 4.1% of the fund’s portfolio and is its sixth-largest holding.
• Hess Midstream reported better-than-expected quarterly earnings, posting $0.68 EPS versus the $0.65 estimate, with revenue of $390.1 million slightly ahead of forecasts. Revenue also rose 2.1% from a year earlier.
• The company raised its quarterly dividend to $0.7792 per share, or $3.12 annualized, implying an 8.0% yield. However, the payout ratio is high at 107.96%, and analysts currently rate the stock a Hold on average.

Longfellow Investment Management Co. LLC raised its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 51.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 525,158 shares of the company's stock after purchasing an additional 179,394 shares during the period. Hess Midstream Partners comprises about 4.1% of Longfellow Investment Management Co. LLC's portfolio, making the stock its 6th largest holding. Longfellow Investment Management Co. LLC owned approximately 0.25% of Hess Midstream Partners worth $18,118,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Advocates LLC bought a new stake in Hess Midstream Partners during the third quarter valued at $28,000. IFP Advisors Inc increased its stake in Hess Midstream Partners by 70.0% during 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 last quarter. Geneos Wealth Management Inc. increased its stake in Hess Midstream Partners by 14.3% during the second 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 during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Hess Midstream Partners during the fourth quarter worth about $96,000. Finally, Larson Financial Group LLC grew its position in shares of Hess Midstream Partners by 668.5% during the third quarter. Larson Financial Group LLC now owns 3,074 shares of the company's stock worth $106,000 after acquiring an additional 2,674 shares during the last quarter. Institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $38.81 on Friday. Hess Midstream Partners LP has a twelve month low of $31.63 and a twelve 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 company has a market capitalization of $8.00 billion, a price-to-earnings ratio of 13.43 and a beta of 0.52. The firm has a 50-day moving average of $38.76 and a two-hundred day moving average of $36.80.

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

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were issued a $0.7792 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend was Thursday, May 7th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.76. Hess Midstream Partners's dividend payout ratio is currently 107.96%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HESM. Zacks Research upgraded shares of Hess Midstream Partners from a "strong sell" rating to a "hold" rating in a research report on Monday, March 2nd. Morgan Stanley lowered their price target on shares of Hess Midstream Partners from $42.00 to $38.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 12th. Weiss Ratings upgraded shares of Hess Midstream Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. The Goldman Sachs Group lowered shares of Hess Midstream Partners from a "neutral" rating to a "sell" rating and set a $32.00 price target for the company. in a research report on Monday, April 20th. Finally, Wells Fargo & Company upped their price target on shares of 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. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $38.71.

Hess Midstream Partners Company 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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