JPMorgan Chase & Co. Increases Stock Position in Hess Midstream Partners LP $HESM

JPMorgan Chase & Co. grew its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 179.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,269,146 shares of the company’s stock after buying an additional 1,456,627 shares during the period. JPMorgan Chase & Co.’s holdings in Hess Midstream Partners were worth $78,399,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Marquette Asset Management LLC purchased a new position in Hess Midstream Partners during the 3rd quarter valued at about $30,000. CENTRAL TRUST Co increased its stake in shares of Hess Midstream Partners by 34.9% during the second quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock valued at $59,000 after purchasing an additional 400 shares in the last quarter. Geneos Wealth Management Inc. increased its stake 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 valued at $92,000 after purchasing an additional 300 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Hess Midstream Partners by 14.1% during the third quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company’s stock valued at $93,000 after purchasing an additional 333 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Hess Midstream Partners by 40.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,180 shares of the company’s stock worth $122,000 after purchasing an additional 913 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HESM has been the topic of several recent research reports. Wall Street Zen downgraded Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Hess Midstream Partners in a research note on Monday, December 29th. Zacks Research downgraded Hess Midstream Partners from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Finally, Raymond James Financial lowered Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Seven research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hess Midstream Partners presently has a consensus rating of “Reduce” and an average price target of $40.57.

Hess Midstream Partners Stock Up 0.4%

Shares of Hess Midstream Partners stock opened at $38.05 on Tuesday. Hess Midstream Partners LP has a twelve month low of $31.63 and a twelve month high of $44.14. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 8.83. The company’s 50 day moving average is $35.15 and its 200 day moving average is $35.70. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 13.30 and a beta of 0.62.

Hess Midstream Partners (NYSE:HESM) last posted its earnings results on Monday, February 2nd. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. The business had revenue of $374.50 million during the quarter, compared to the consensus estimate of $419.16 million. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 73.17%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. Research analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Thursday, February 5th were given a dividend of $0.7641 per share. This represents a $3.06 dividend on an annualized basis and a yield of 8.0%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, February 5th. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 106.99%.

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.