CIBC Bancorp USA Inc. Invests $58.48 Million in Hess Midstream Partners LP $HESM

CIBC Bancorp USA Inc. acquired a new position in Hess Midstream Partners LP (NYSE:HESM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,692,612 shares of the company’s stock, valued at approximately $58,480,000. CIBC Bancorp USA Inc. owned about 0.82% of Hess Midstream Partners as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marquette Asset Management LLC acquired a new position in Hess Midstream Partners during the 3rd quarter worth about $30,000. Geneos Wealth Management Inc. raised 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 acquiring an additional 300 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Hess Midstream Partners by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company’s stock worth $93,000 after acquiring an additional 333 shares during the period. Larson Financial Group LLC lifted its stake in shares of 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 acquiring an additional 2,674 shares during the period. Finally, Advisory Services Network LLC bought a new stake in Hess Midstream Partners in the third quarter valued at approximately $160,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Partners Stock Up 0.7%

HESM stock opened at $39.60 on Wednesday. The stock’s 50 day simple moving average is $36.67 and its 200 day simple moving average is $35.43. The company has a market cap of $8.23 billion, a P/E ratio of 13.85 and a beta of 0.60. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.85 and a current ratio of 0.85. Hess Midstream Partners LP has a fifty-two week low of $31.63 and a fifty-two week high of $44.14.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, February 2nd. The company reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. The firm had revenue of $374.50 million during the quarter, compared to analysts’ expectations of $419.16 million. Hess Midstream Partners had a return on equity of 74.89% and a net margin of 21.77%.The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. On average, research analysts expect that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Thursday, February 5th were given a $0.7641 dividend. This represents a $3.06 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Thursday, February 5th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.75. Hess Midstream Partners’s payout ratio is 106.99%.

Analysts Set New Price Targets

A number of analysts have weighed in on HESM shares. Wells Fargo & Company increased their target price on shares of 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 shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Raymond James Financial lowered shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Finally, Weiss Ratings upgraded shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.71.

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.