BI Asset Management Fondsmaeglerselskab A S Trims Position in Hess Midstream Partners LP $HESM

BI Asset Management Fondsmaeglerselskab A S decreased its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 63.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 146,188 shares of the company’s stock after selling 253,763 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Hess Midstream Partners were worth $5,043,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Strategic Advocates LLC bought a new position in Hess Midstream Partners in the 3rd quarter worth about $28,000. IFP Advisors Inc boosted 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 during the period. Geneos Wealth Management Inc. grew its stake in Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after purchasing an additional 300 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new position in Hess Midstream Partners in the fourth quarter worth approximately $96,000. Finally, Larson Financial Group LLC grew its stake in Hess Midstream Partners by 668.5% in the third quarter. Larson Financial Group LLC now owns 3,074 shares of the company’s stock worth $106,000 after purchasing an additional 2,674 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Trading Down 0.0%

Shares of NYSE:HESM opened at $38.81 on Monday. The company has a market capitalization of $8.00 billion, a PE ratio of 13.43 and a beta of 0.52. 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 business’s fifty day simple moving average is $38.76 and its 200-day simple moving average is $36.83.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating 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 company had revenue of $390.10 million for the quarter, compared to the consensus estimate of $389.51 million. During the same quarter last year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Hess Midstream Partners LP will post 2.99 earnings per share 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. Stockholders of record on Thursday, May 7th were issued a $0.7792 dividend. The ex-dividend date was Thursday, May 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.0%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s dividend payout ratio (DPR) is 107.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HESM shares. Wells Fargo & Company lifted their target price on Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Zacks Research upgraded Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. The Goldman Sachs Group downgraded Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective for the company. in a report on Monday, April 20th. 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 cut their target price on shares of Hess Midstream Partners from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus 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.