Bridges Investment Management Inc. Purchases Shares of 51,380 Hess Midstream Partners LP $HESM

Bridges Investment Management Inc. acquired a new stake in Hess Midstream Partners LP (NYSE:HESM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 51,380 shares of the company’s stock, valued at approximately $1,773,000.

A number of other institutional investors have also recently made changes to their positions in HESM. Strategic Advocates LLC acquired a new position in Hess Midstream Partners during the 3rd quarter worth approximately $28,000. IFP Advisors Inc grew its holdings in Hess Midstream Partners by 70.0% during 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 in the last quarter. Geneos Wealth Management Inc. grew its holdings in Hess Midstream Partners by 14.3% during 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 in the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new position in Hess Midstream Partners during the 4th quarter worth approximately $96,000. Finally, Larson Financial Group LLC grew its holdings in Hess Midstream Partners by 668.5% during 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 in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Wall Street Analyst Weigh In

HESM has been the subject of several analyst reports. 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 report on Tuesday, May 12th. Zacks Research upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Wells Fargo & Company boosted 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 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, The Goldman Sachs Group downgraded shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective for the company. in a research report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $38.71.

Hess Midstream Partners Stock Performance

HESM opened at $38.53 on Thursday. The stock has a market cap of $7.94 billion, a P/E ratio of 13.33 and a beta of 0.52. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s 50 day simple moving average is $38.80 and its 200 day simple moving average is $36.74. Hess Midstream Partners LP has a 1-year low of $31.63 and a 1-year high of $44.14.

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

Hess Midstream Partners Increases Dividend

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