Bridges Investment Management Inc. Takes $1.77 Million Position in Hess Midstream Partners LP $HESM

Bridges Investment Management Inc. acquired a new stake in shares of Hess Midstream Partners LP (NYSE:HESM) during the fourth quarter, Holdings Channel.com reports. The fund acquired 51,380 shares of the company’s stock, valued at approximately $1,773,000.

A number of other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in shares of Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after buying an additional 300 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in shares of Hess Midstream Partners by 1.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 25,766 shares of the company’s stock worth $889,000 after buying an additional 330 shares in the last quarter. Investment Management Corp VA ADV grew its position in shares of Hess Midstream Partners by 3.0% during the fourth quarter. Investment Management Corp VA ADV now owns 12,519 shares of the company’s stock worth $432,000 after buying an additional 362 shares in the last quarter. Creative Planning grew its position in shares of Hess Midstream Partners by 4.7% during the third quarter. Creative Planning now owns 9,000 shares of the company’s stock worth $311,000 after buying an additional 404 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of Hess Midstream Partners by 1.3% during the third quarter. Arizona State Retirement System now owns 36,850 shares of the company’s stock worth $1,273,000 after buying an additional 460 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Price Performance

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

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. 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 previous year, the business earned $0.65 earnings per share. Hess Midstream Partners’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts expect that Hess Midstream Partners LP will post 2.99 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were paid a $0.7792 dividend. 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 an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s dividend payout ratio (DPR) is 107.96%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings raised shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. 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. Morgan Stanley decreased 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 research report on Tuesday, May 12th. 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 for the company. in a research report on Monday, April 20th. Finally, Wells Fargo & Company raised 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 research report on Friday, March 13th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Hess Midstream Partners presently has an average rating of “Hold” and a consensus 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.