Goldman Sachs Group Inc. Buys 330,802 Shares of Hess Midstream Partners LP $HESM

Goldman Sachs Group Inc. raised its stake in Hess Midstream Partners LP (NYSE:HESM) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,081,184 shares of the company’s stock after purchasing an additional 330,802 shares during the period. Goldman Sachs Group Inc.’s holdings in Hess Midstream Partners were worth $313,301,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Hess Midstream Partners in the 3rd quarter valued at about $187,691,000. CIBC Bancorp USA Inc. acquired a new stake in Hess Midstream Partners during the third quarter worth approximately $58,480,000. JPMorgan Chase & Co. boosted its holdings in shares of Hess Midstream Partners by 179.3% during the third quarter. JPMorgan Chase & Co. now owns 2,269,146 shares of the company’s stock worth $78,399,000 after acquiring an additional 1,456,627 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Hess Midstream Partners by 179.8% during the second quarter. Balyasny Asset Management L.P. now owns 1,209,075 shares of the company’s stock worth $46,561,000 after acquiring an additional 776,924 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of Hess Midstream Partners by 62.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,688,612 shares of the company’s stock valued at $58,342,000 after purchasing an additional 651,329 shares during the last quarter. 98.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HESM shares. Morgan Stanley dropped their price target on Hess Midstream Partners from $42.00 to $38.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Wells Fargo & Company increased their price objective on 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. The Goldman Sachs Group cut shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price for the company. in a research report on Monday, April 20th. Finally, Zacks Research upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hess Midstream Partners has an average rating of “Hold” and a consensus target price of $38.71.

Hess Midstream Partners Price Performance

Hess Midstream Partners stock opened at $38.81 on Friday. The stock’s fifty day moving average price is $38.76 and its two-hundred day moving average price is $36.80. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $44.14. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $8.00 billion, a PE ratio of 13.43 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The firm had revenue of $390.10 million during the quarter, compared to the consensus estimate of $389.51 million. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. As a group, research analysts expect that Hess Midstream Partners LP will post 2.99 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were given a dividend of $0.7792 per share. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend was Thursday, May 7th. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 107.96%.

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.