VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 17,000 Shares of Hess Midstream Partners LP $HESM

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 29.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 74,423 shares of the company’s stock after purchasing an additional 17,000 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Hess Midstream Partners were worth $2,571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of Hess Midstream Partners by 50.5% in the second quarter. Invesco Ltd. now owns 6,022,208 shares of the company’s stock valued at $231,915,000 after purchasing an additional 2,020,430 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in Hess Midstream Partners by 92.4% during the second quarter. Westwood Holdings Group Inc. now owns 2,096,560 shares of the company’s stock worth $80,739,000 after buying an additional 1,006,998 shares in the last quarter. Eagle Global Advisors LLC grew its holdings in Hess Midstream Partners by 53.7% during the second quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company’s stock worth $94,497,000 after buying an additional 857,669 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Hess Midstream Partners in the 2nd quarter valued at $30,735,000. Finally, Balyasny Asset Management L.P. lifted its stake in 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 valued at $46,561,000 after acquiring an additional 776,924 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on HESM. The Goldman Sachs Group assumed coverage on shares of Hess Midstream Partners in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $36.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Hess Midstream Partners in a report on Monday. Wells Fargo & Company downgraded shares of Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research report on Friday, September 19th. Zacks Research upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Raymond James Financial reissued an “outperform” rating and set a $35.00 target price (down previously from $48.00) on shares of Hess Midstream Partners in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.57.

Hess Midstream Partners Price Performance

HESM opened at $34.47 on Friday. Hess Midstream Partners LP has a fifty-two week low of $31.63 and a fifty-two week high of $44.14. The firm has a 50-day moving average of $33.79 and a 200 day moving average of $36.77. 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 cap of $7.16 billion, a P/E ratio of 12.22 and a beta of 0.61.

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

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Thursday, November 6th were paid a $0.7548 dividend. The ex-dividend date was Thursday, November 6th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.74. This represents a $3.02 annualized dividend and a yield of 8.8%. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 107.09%.

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.