Inspire Investing LLC Acquires New Position in Hess Midstream Partners LP $HESM

Inspire Investing LLC acquired a new stake in shares of Hess Midstream Partners LP (NYSE:HESM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 78,446 shares of the company’s stock, valued at approximately $2,706,000.

A number of other institutional investors have also modified their holdings of HESM. Royal Bank of Canada grew its position in shares of Hess Midstream Partners by 33.7% during the 1st quarter. Royal Bank of Canada now owns 129,902 shares of the company’s stock valued at $5,494,000 after buying an additional 32,740 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of Hess Midstream Partners during the 1st quarter valued at about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Hess Midstream Partners by 20.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,741 shares of the company’s stock worth $9,504,000 after purchasing an additional 37,794 shares during the last quarter. Geode Capital Management LLC grew its position in Hess Midstream Partners by 21.6% in the 2nd quarter. Geode Capital Management LLC now owns 5,778 shares of the company’s stock worth $223,000 after purchasing an additional 1,026 shares during the last quarter. Finally, Creative Planning grew its position in Hess Midstream Partners by 10.6% in the 2nd quarter. Creative Planning now owns 8,596 shares of the company’s stock worth $331,000 after purchasing an additional 826 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on HESM shares. 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. Wells Fargo & Company upped their target price 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, 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. 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, Morgan Stanley cut shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 target price for the company. in a research report on Wednesday, June 10th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $38.71.

Hess Midstream Partners Trading Down 1.4%

Shares of NYSE:HESM opened at $36.64 on Thursday. The company has a 50 day moving average of $38.60 and a 200-day moving average of $37.13. The firm has a market cap of $7.55 billion, a P/E ratio of 12.68 and a beta of 0.52. Hess Midstream Partners LP has a twelve month low of $31.63 and a twelve month high of $44.14. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97.

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

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were paid a $0.7792 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.5%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 107.96%.

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.