Hess Midstream Partners LP $HESM Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in Hess Midstream Partners LP (NYSE:HESM) by 48.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,650 shares of the company’s stock after selling 24,820 shares during the quarter. Hsbc Holdings PLC’s holdings in Hess Midstream Partners were worth $915,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HESM. Strategic Advocates LLC purchased a new stake in Hess Midstream Partners during the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hess Midstream Partners in the fourth quarter valued at approximately $44,000. IFP Advisors Inc lifted its position 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 acquiring an additional 582 shares in the last quarter. Geneos Wealth Management Inc. lifted its position 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 acquiring an additional 300 shares in the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Hess Midstream Partners in the fourth quarter worth approximately $96,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Partners Stock Performance

NYSE HESM opened at $39.25 on Tuesday. The company has a debt-to-equity ratio of 9.97, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s fifty day moving average is $38.55 and its two-hundred day moving average is $37.62. The firm has a market capitalization of $8.09 billion, a P/E ratio of 13.58 and a beta of 0.53. 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 issued its earnings results on Monday, May 4th. The company reported $0.68 earnings per share (EPS) for the quarter, topping 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 business had revenue of $390.10 million during the quarter, compared to the consensus estimate of $389.51 million. During the same period last year, the company earned $0.65 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Hess Midstream Partners LP will post 2.99 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were paid a dividend of $0.7792 per share. This represents a $3.12 dividend on an annualized basis and a yield of 7.9%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Thursday, May 7th. Hess Midstream Partners’s payout ratio is presently 107.96%.

Analysts Set New Price Targets

Several analysts recently commented on HESM shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. The Goldman Sachs Group lowered Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective on the stock. in a report on Monday, April 20th. Finally, Morgan Stanley cut shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 target price on the stock. in a research note on Wednesday, June 10th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Hess Midstream Partners presently has a consensus rating of “Reduce” and an average price target of $38.71.

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.