Legal & General Group Plc Lowers Position in Hess Midstream Partners LP $HESM

Legal & General Group Plc cut its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,393 shares of the company’s stock after selling 12,936 shares during the quarter. Legal & General Group Plc owned about 0.06% of Hess Midstream Partners worth $4,223,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Strategic Advocates LLC purchased a new position in Hess Midstream Partners during the 3rd quarter valued at about $28,000. IFP Advisors Inc boosted its holdings in Hess Midstream Partners by 70.0% during the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after acquiring an additional 582 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after acquiring an additional 300 shares during the period. Larson Financial Group LLC boosted its holdings in Hess Midstream Partners by 668.5% during the 3rd quarter. Larson Financial Group LLC now owns 3,074 shares of the company’s stock valued at $106,000 after acquiring an additional 2,674 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Hess Midstream Partners by 24.6% during the 4th quarter. Farther Finance Advisors LLC now owns 3,360 shares of the company’s stock valued at $116,000 after acquiring an additional 664 shares during the period. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $38.89 on Tuesday. The company has a debt-to-equity ratio of 9.97, a quick ratio of 0.92 and a current ratio of 0.92. Hess Midstream Partners LP has a fifty-two week low of $31.63 and a fifty-two week high of $44.14. The firm has a market capitalization of $8.02 billion, a PE ratio of 13.46 and a beta of 0.52. The stock’s 50-day simple moving average is $38.74 and its 200-day simple moving average is $36.87.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The business had revenue of $390.10 million for the quarter, compared to analyst estimates of $389.51 million. During the same quarter last year, the company earned $0.65 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Hess Midstream Partners LP will post 2.99 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were given 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 of this dividend was Thursday, May 7th. This represents a $3.12 annualized dividend and a dividend yield of 8.0%. Hess Midstream Partners’s dividend payout ratio is 107.96%.

Analyst Ratings Changes

A number of brokerages recently commented on HESM. The Goldman Sachs Group cut Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price for the company. in a report on Monday, April 20th. Zacks Research upgraded Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Morgan Stanley lowered their target price on Hess Midstream Partners from $42.00 to $38.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Wells Fargo & Company increased their price target on Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Finally, Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research 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 company. According to data from MarketBeat.com, Hess Midstream Partners currently has a consensus rating of “Hold” and an average target price of $38.71.

Hess Midstream Partners 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.