Clearbridge Investments LLC Boosts Stock Holdings in Hess Midstream Partners LP $HESM

Clearbridge Investments LLC grew its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,644,985 shares of the company’s stock after acquiring an additional 15,600 shares during the quarter. Clearbridge Investments LLC owned 0.79% of Hess Midstream Partners worth $56,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC boosted its holdings in Hess Midstream Partners by 51.9% during the 4th quarter. Longfellow Investment Management Co. LLC now owns 525,158 shares of the company’s stock worth $18,118,000 after acquiring an additional 179,394 shares during the last quarter. Vestcor Inc boosted its holdings in Hess Midstream Partners by 110.3% during the 4th quarter. Vestcor Inc now owns 15,254 shares of the company’s stock worth $526,000 after acquiring an additional 8,000 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Hess Midstream Partners by 10.0% in the 4th quarter. TD Asset Management Inc now owns 2,626,438 shares of the company’s stock worth $90,612,000 after buying an additional 237,690 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Hess Midstream Partners by 21.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,239,995 shares of the company’s stock worth $77,280,000 after buying an additional 390,933 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Hess Midstream Partners by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock worth $313,301,000 after buying an additional 330,802 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HESM. Morgan Stanley cut 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 report on Tuesday, May 12th. Weiss Ratings raised shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Zacks Research raised 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. 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 target on the stock. in a report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.71.

Hess Midstream Partners Trading Up 0.2%

Shares of HESM opened at $38.89 on Tuesday. The business’s 50-day moving average price is $38.74 and its 200-day moving average price is $36.87. Hess Midstream Partners LP has a twelve month low of $31.63 and a twelve month high of $44.14. The stock has a market cap of $8.02 billion, a PE ratio of 13.46 and a beta of 0.52. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $389.51 million. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Hess Midstream Partners LP will post 2.99 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were given a dividend of $0.7792 per share. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 8.0%. The ex-dividend date was Thursday, May 7th. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 107.96%.

Hess Midstream Partners Company 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.