Bank of New York Mellon Corp Acquires 390,933 Shares of Hess Midstream Partners LP $HESM

Bank of New York Mellon Corp lifted its holdings in Hess Midstream Partners LP (NYSE:HESM) by 21.1% in the fourth quarter, HoldingsChannel reports. The fund owned 2,239,995 shares of the company’s stock after buying an additional 390,933 shares during the period. Bank of New York Mellon Corp’s holdings in Hess Midstream Partners were worth $77,280,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HESM. Strategic Advocates LLC bought a new stake in shares of Hess Midstream Partners in the 3rd quarter worth approximately $28,000. IFP Advisors Inc lifted its holdings in shares of Hess Midstream Partners by 70.0% in the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock worth $49,000 after acquiring an additional 582 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after acquiring an additional 300 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Hess Midstream Partners in the 4th quarter worth approximately $96,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Hess Midstream Partners by 668.5% in the 3rd 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. 98.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HESM shares. Zacks Research upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a 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 report on Monday, April 20th. Wells Fargo & Company upped their price target on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. Weiss Ratings upgraded shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, Morgan Stanley lowered shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating in a report on Wednesday. One equities 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 stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $38.71.

Hess Midstream Partners Stock Down 0.9%

Shares of NYSE HESM opened at $38.57 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $44.14. The firm has a market capitalization of $7.95 billion, a PE ratio of 13.35 and a beta of 0.52. The firm has a fifty day simple moving average of $38.71 and a two-hundred day simple moving average of $36.92.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.68 EPS for the quarter, topping the consensus estimate 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 business had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.51 million. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts expect that Hess Midstream Partners LP will post 2.99 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were issued a $0.7792 dividend. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. The ex-dividend date was Thursday, May 7th. This represents a $3.12 annualized dividend and a yield of 8.1%. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 107.96%.

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.