MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Makes New Investment in Hess Midstream Partners LP $HESM

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Hess Midstream Partners LP (NYSE:HESM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,432,450 shares of the company’s stock, valued at approximately $187,691,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 2.62% of Hess Midstream Partners at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. increased 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 in the last quarter. Virtus Investment Advisers LLC lifted its position in Hess Midstream Partners by 7.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 4,456 shares of the company’s stock valued at $172,000 after acquiring an additional 315 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Hess Midstream Partners by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company’s stock valued at $93,000 after acquiring an additional 333 shares in the last quarter. Creative Planning boosted its stake in Hess Midstream Partners by 4.7% in the 3rd quarter. Creative Planning now owns 9,000 shares of the company’s stock worth $311,000 after purchasing an additional 404 shares during the period. Finally, Investment Management Corp VA ADV increased its holdings in Hess Midstream Partners by 3.6% during the 3rd quarter. Investment Management Corp VA ADV now owns 12,157 shares of the company’s stock worth $420,000 after purchasing an additional 423 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

Hess Midstream Partners Stock Performance

Shares of Hess Midstream Partners stock opened at $39.32 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.54. The company has a market cap of $8.17 billion, a PE ratio of 13.75 and a beta of 0.60. The company has a 50 day moving average of $36.55 and a 200-day moving average of $35.45. Hess Midstream Partners LP has a 1-year low of $31.63 and a 1-year 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 the consensus estimate 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 74.89%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 earnings per share. As a group, equities research analysts forecast 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 announced 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. The ex-dividend date was Thursday, February 5th. This represents a $3.06 annualized dividend and a yield of 7.8%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.75. Hess Midstream Partners’s dividend payout ratio is 106.99%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Raymond James Financial cut Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Wells Fargo & Company boosted their price objective 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. Finally, Weiss Ratings upgraded shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Hess Midstream Partners currently has a consensus rating of “Hold” and an average price target of $40.71.

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.