Gilman Hill Asset Management LLC Buys New Position in Hess Midstream Partners LP $HESM

Gilman Hill Asset Management LLC purchased a new position in shares of Hess Midstream Partners LP (NYSE:HESM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 19,860 shares of the company’s stock, valued at approximately $686,000.

Several other institutional investors and hedge funds have also made changes to their positions in HESM. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Hess Midstream Partners during the second quarter worth approximately $25,000. Ameritas Advisory Services LLC bought a new stake in shares of Hess Midstream Partners in the 2nd quarter worth $50,000. CENTRAL TRUST Co lifted its holdings in shares of Hess Midstream Partners by 34.9% in the second quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock valued at $59,000 after buying an additional 400 shares during the period. Farther Finance Advisors LLC grew its holdings in Hess Midstream Partners by 124.4% during the second quarter. Farther Finance Advisors LLC now owns 2,363 shares of the company’s stock worth $91,000 after acquiring an additional 1,310 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after acquiring an additional 300 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

Hess Midstream Partners Trading Up 0.7%

Hess Midstream Partners stock opened at $34.31 on Wednesday. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $44.14. The company has a debt-to-equity ratio of 8.83, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 12.17 and a beta of 0.62. The company has a 50 day moving average price of $33.61 and a 200 day moving average price of $36.97.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, November 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. The company had revenue of $420.90 million during the quarter, compared to analyst estimates of $424.36 million. Hess Midstream Partners had a return on equity of 69.03% and a net margin of 20.46%.The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. Research analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, November 6th were given a dividend of $0.7548 per share. This represents a $3.02 dividend on an annualized basis and a yield of 8.8%. The ex-dividend date was Thursday, November 6th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.74. Hess Midstream Partners’s dividend payout ratio is 107.09%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. UBS Group restated a “neutral” rating and set a $43.00 target price (down from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. Wall Street Zen lowered shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Wells Fargo & Company lowered Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research note on Friday, September 19th. Finally, Raymond James Financial restated an “outperform” rating and issued a $35.00 target price (down from $48.00) on shares of Hess Midstream Partners in a report on Friday, October 24th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently 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.