Alps Advisors Inc. Purchases 1,007,846 Shares of Hess Midstream Partners LP $HESM

Alps Advisors Inc. grew its position in Hess Midstream Partners LP (NYSE:HESM) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 30,303,091 shares of the company’s stock after acquiring an additional 1,007,846 shares during the quarter. Hess Midstream Partners makes up about 6.1% of Alps Advisors Inc.’s investment portfolio, making the stock its 6th largest holding. Alps Advisors Inc. owned 0.15% of Hess Midstream Partners worth $1,045,457,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Hess Midstream Partners during the 3rd quarter valued at about $187,691,000. CIBC Bancorp USA Inc. acquired a new position in shares of Hess Midstream Partners during the 3rd quarter valued at about $58,480,000. JPMorgan Chase & Co. increased its holdings in shares of Hess Midstream Partners by 179.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,269,146 shares of the company’s stock valued at $78,399,000 after acquiring an additional 1,456,627 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of 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 during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Hess Midstream Partners by 62.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,688,612 shares of the company’s stock valued at $58,342,000 after acquiring an additional 651,329 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HESM has been the topic of a number of analyst reports. Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Morgan Stanley lowered Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective on the stock. in a report on Wednesday. Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. The Goldman Sachs Group lowered Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective on the stock. in a report on Monday, April 20th. Finally, Wells Fargo & Company increased their price objective on Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $38.71.

Hess Midstream Partners Price Performance

Shares of HESM stock opened at $38.57 on Friday. The stock has a 50 day moving average of $38.70 and a two-hundred day moving average of $37.00. 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 company has a market capitalization of $7.95 billion, a P/E ratio of 13.35 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Monday, May 4th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The business had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $389.51 million. During the same period in the prior year, the firm posted $0.65 EPS. Hess Midstream Partners’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Hess Midstream Partners LP will post 2.99 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were issued a dividend of $0.7792 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $3.12 dividend on an annualized basis and a yield of 8.1%. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s payout ratio is 107.96%.

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.