Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New Investment in Hess Midstream Partners LP $HESM

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Hess Midstream Partners LP (NYSE:HESM) in the fourth quarter, Holdings Channel reports. The institutional investor bought 64,706 shares of the company’s stock, valued at approximately $2,232,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HESM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Hess Midstream Partners in the 3rd quarter worth $187,691,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Hess Midstream Partners in the 3rd quarter worth $58,480,000. JPMorgan Chase & Co. increased its stake in shares of Hess Midstream Partners by 179.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,269,146 shares of the company’s stock worth $78,399,000 after acquiring an additional 1,456,627 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Hess Midstream Partners by 179.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,209,075 shares of the company’s stock worth $46,561,000 after acquiring an additional 776,924 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Hess Midstream Partners by 62.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,688,612 shares of the company’s stock worth $58,342,000 after acquiring an additional 651,329 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HESM shares. 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 research report on Friday, March 13th. Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. The Goldman Sachs Group downgraded Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective for the company. in a research report on Monday, April 20th. Morgan Stanley cut their price objective on Hess Midstream Partners from $42.00 to $38.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Finally, Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Hess Midstream Partners has a consensus rating of “Hold” and an average target price of $38.71.

Hess Midstream Partners Stock Down 1.6%

Shares of NYSE:HESM opened at $40.06 on Thursday. The business has a 50-day moving average price of $38.89 and a 200 day moving average price of $36.37. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 13.86 and a beta of 0.54. Hess Midstream Partners LP has a 12-month low of $31.63 and a 12-month high of $44.14.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. The company had revenue of $390.10 million during the quarter, compared to the consensus estimate of $389.51 million. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.Hess Midstream Partners’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. Sell-side analysts expect that Hess Midstream Partners LP will post 2.99 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were given a $0.7792 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $3.12 annualized dividend and a yield of 7.8%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s dividend payout ratio is presently 107.96%.

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.