Jefferies Financial Group Inc. Sells 70,148 Shares of Hess Midstream Partners LP $HESM

Jefferies Financial Group Inc. lessened its position in Hess Midstream Partners LP (NYSE:HESM) by 46.9% in the third quarter, HoldingsChannel reports. The firm owned 79,560 shares of the company’s stock after selling 70,148 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Hess Midstream Partners were worth $2,749,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. First Trust Advisors LP raised its holdings in Hess Midstream Partners by 0.9% in the third quarter. First Trust Advisors LP now owns 642,161 shares of the company’s stock worth $22,187,000 after purchasing an additional 5,924 shares in the last quarter. HUB Investment Partners LLC bought a new stake in shares of Hess Midstream Partners during the 3rd quarter valued at $223,000. Barclays PLC grew its position in shares of Hess Midstream Partners by 27.1% in the 3rd quarter. Barclays PLC now owns 736,060 shares of the company’s stock worth $25,431,000 after buying an additional 156,780 shares during the period. Pinnacle Holdings LLC increased its stake in shares of Hess Midstream Partners by 3.6% in the 3rd quarter. Pinnacle Holdings LLC now owns 89,096 shares of the company’s stock worth $3,078,000 after acquiring an additional 3,079 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Hess Midstream Partners in the 3rd quarter worth about $690,000. 98.97% of the stock is currently owned by institutional investors.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $38.86 on Wednesday. The firm has a market cap of $8.07 billion, a P/E ratio of 13.59 and a beta of 0.60. 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 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.54. The company has a 50 day moving average of $36.16 and a 200 day moving average of $35.51.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $419.16 million. Hess Midstream Partners had a return on equity of 74.89% and a net margin of 21.77%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. As a group, research analysts expect that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm 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 annualized dividend and a dividend yield of 7.9%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, February 5th. Hess Midstream Partners’s payout ratio is 106.99%.

Analyst Upgrades and Downgrades

HESM has been the subject of a number of recent research reports. Wall Street Zen cut shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Raymond James Financial cut shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Weiss Ratings raised shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, Zacks Research upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.57.

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.