Hess Midstream Partners LP $HESM Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 29.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,673 shares of the company’s stock after acquiring an additional 15,195 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Hess Midstream Partners were worth $2,300,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Strategic Advocates LLC acquired a new stake in Hess Midstream Partners in the 3rd quarter worth about $28,000. Marquette Asset Management LLC acquired a new stake in Hess Midstream Partners in the 3rd quarter worth about $30,000. Geneos Wealth Management Inc. boosted its stake in Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after buying an additional 300 shares during the last quarter. Farther Finance Advisors LLC boosted its stake 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 worth $93,000 after buying an additional 333 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in Hess Midstream Partners by 668.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,074 shares of the company’s stock worth $106,000 after buying an additional 2,674 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Stock Down 1.1%

Shares of Hess Midstream Partners stock opened at $38.18 on Friday. The business’s fifty day moving average price is $38.78 and its two-hundred day moving average price is $36.00. The company has a debt-to-equity ratio of 8.54, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $7.93 billion, a P/E ratio of 13.21 and a beta of 0.54. 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 posted its quarterly earnings data on Monday, May 4th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $390.10 million for the quarter, compared to the consensus estimate of $389.51 million. Hess Midstream Partners had a return on equity of 80.66% and a net margin of 22.64%.The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, research analysts forecast that Hess Midstream Partners LP will post 3.01 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th will be paid a dividend of $0.7792 per share. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. The ex-dividend date is Thursday, May 7th. This represents a $3.12 annualized dividend and a dividend yield of 8.2%. Hess Midstream Partners’s dividend payout ratio is currently 107.96%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings upgraded Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Wells Fargo & Company raised their price objective on Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Zacks Research upgraded Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Finally, The Goldman Sachs Group downgraded Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective on the stock. in a report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Hess Midstream Partners currently has a consensus rating of “Hold” and a consensus target price of $40.14.

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.