Oppenheimer & Co. Inc. Acquires 33,975 Shares of Hess Midstream Partners LP $HESM

Oppenheimer & Co. Inc. boosted its holdings in Hess Midstream Partners LP (NYSE:HESM) by 598.7% during the third quarter, Holdings Channel reports. The fund owned 39,650 shares of the company’s stock after purchasing an additional 33,975 shares during the period. Oppenheimer & Co. Inc.’s holdings in Hess Midstream Partners were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its position in shares of Hess Midstream Partners by 16.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,910 shares of the company’s stock valued at $584,000 after purchasing an additional 2,354 shares during the period. Alps Advisors Inc. raised its holdings in Hess Midstream Partners by 1.2% in the 3rd quarter. Alps Advisors Inc. now owns 29,295,245 shares of the company’s stock valued at $1,012,151,000 after acquiring an additional 338,729 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in Hess Midstream Partners by 224.9% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 399,951 shares of the company’s stock worth $13,818,000 after acquiring an additional 276,868 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Hess Midstream Partners by 5.7% during the third quarter. Envestnet Asset Management Inc. now owns 66,125 shares of the company’s stock worth $2,285,000 after acquiring an additional 3,546 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Hess Midstream Partners by 58.4% during the third quarter. Thrivent Financial for Lutherans now owns 146,007 shares of the company’s stock worth $5,044,000 after acquiring an additional 53,807 shares during the period. 98.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HESM has been the topic of a number of recent research reports. Zacks Research lowered Hess Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Hess Midstream Partners in a report on Monday, December 29th. Wall Street Zen downgraded shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Raymond James Financial cut shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Seven equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $40.57.

Hess Midstream Partners Stock Up 2.3%

HESM stock opened at $36.68 on Friday. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $44.14. The business has a 50-day simple moving average of $34.81 and a 200 day simple moving average of $35.96. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 8.83. The company has a market cap of $7.62 billion, a PE ratio of 12.82 and a beta of 0.62.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, February 2nd. The company reported $0.72 EPS for the quarter, meeting the consensus estimate of $0.72. The firm had revenue of $374.50 million for the quarter, compared to analyst estimates of $419.16 million. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 73.17%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. Sell-side analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Thursday, February 5th were given a dividend of $0.7641 per share. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.75. This represents a $3.06 annualized dividend and a yield of 8.3%. The ex-dividend date was Thursday, February 5th. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 106.64%.

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.