Goldman Sachs Group Inc. Buys 330,802 Shares of Hess Midstream Partners LP $HESM

Goldman Sachs Group Inc. grew its stake in Hess Midstream Partners LP (NYSE:HESM) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,081,184 shares of the company’s stock after buying an additional 330,802 shares during the quarter. Goldman Sachs Group Inc. owned 4.37% of Hess Midstream Partners worth $313,301,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in HESM. Strategic Advocates LLC bought a new position in Hess Midstream Partners during the 3rd quarter worth about $28,000. IFP Advisors Inc lifted its holdings in shares of Hess Midstream Partners by 70.0% in the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after purchasing an additional 582 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after purchasing an additional 300 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Hess Midstream Partners during the fourth quarter worth about $96,000. Finally, Larson Financial Group LLC boosted its position in shares of Hess Midstream Partners by 668.5% during the third quarter. Larson Financial Group LLC now owns 3,074 shares of the company’s stock worth $106,000 after buying an additional 2,674 shares during the period. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Price Performance

Shares of HESM opened at $38.81 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97. The company’s fifty day simple moving average is $38.76 and its 200 day simple moving average is $36.80. Hess Midstream Partners LP has a 1-year low of $31.63 and a 1-year high of $44.14. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 13.43 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. The company had revenue of $390.10 million for the quarter, compared to analyst estimates of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. Hess Midstream Partners’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. On average, research analysts forecast that Hess Midstream Partners LP will post 2.99 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were paid a $0.7792 dividend. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a yield of 8.0%. The ex-dividend date was Thursday, May 7th. Hess Midstream Partners’s dividend payout ratio is currently 107.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings upgraded Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Wells Fargo & Company lifted their price objective 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. The Goldman Sachs Group lowered shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective on the stock. in a research report on Monday, April 20th. Zacks Research raised shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley lowered their price target on shares of Hess Midstream Partners from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Hess Midstream Partners has an average rating of “Hold” and an average price target of $38.71.

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.