Renaissance Technologies LLC Sells 328,500 Shares of Hess Midstream Partners LP $HESM

Renaissance Technologies LLC decreased its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 48.0% during the first quarter, Holdings Channel.com reports. The firm owned 355,300 shares of the company’s stock after selling 328,500 shares during the period. Renaissance Technologies LLC’s holdings in Hess Midstream Partners were worth $13,811,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new position in Hess Midstream Partners during the first quarter valued at $6,756,000. First Trust Advisors LP increased its holdings in shares of Hess Midstream Partners by 34.9% in the 1st quarter. First Trust Advisors LP now owns 959,321 shares of the company’s stock worth $37,289,000 after buying an additional 247,973 shares during the last quarter. KBC Group NV increased its holdings in shares of Hess Midstream Partners by 31.7% in the 1st quarter. KBC Group NV now owns 4,700 shares of the company’s stock worth $183,000 after buying an additional 1,131 shares during the last quarter. Jennison Associates LLC raised its position in shares of Hess Midstream Partners by 4.6% during the 1st quarter. Jennison Associates LLC now owns 367,745 shares of the company’s stock valued at $14,294,000 after buying an additional 16,095 shares in the last quarter. Finally, Independent Financial Group LLC purchased a new stake in shares of Hess Midstream Partners during the 1st quarter valued at about $360,000. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Up 1.7%

NYSE HESM opened at $40.94 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97. The company has a fifty day moving average of $38.76 and a two-hundred day moving average of $38.19. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 14.16 and a beta of 0.53. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $44.14.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data 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. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The business had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $389.51 million. During the same quarter in the previous year, the business posted $0.65 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. On average, analysts predict that Hess Midstream Partners LP will post 2.86 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, August 6th will be issued a dividend of $0.7888 per share. This represents a $3.16 annualized dividend and a yield of 7.7%. The ex-dividend date is Thursday, August 6th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.78. Hess Midstream Partners’s payout ratio is currently 107.96%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HESM. The Goldman Sachs Group downgraded shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target for the company. in a report on Monday, April 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. Finally, Morgan Stanley restated an “underweight” rating and set a $39.00 price objective on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $38.86.

About Hess Midstream Partners

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.