Walleye Capital LLC Lowers Position in Hess Midstream Partners LP $HESM

Walleye Capital LLC reduced its position in Hess Midstream Partners LP (NYSE:HESM) by 93.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,437 shares of the company’s stock after selling 87,656 shares during the quarter. Walleye Capital LLC’s holdings in Hess Midstream Partners were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of Hess Midstream Partners by 33.7% in the first quarter. Royal Bank of Canada now owns 129,902 shares of the company’s stock valued at $5,494,000 after purchasing an additional 32,740 shares in the last quarter. NewEdge Advisors LLC bought a new position in Hess Midstream Partners during the 1st quarter valued at about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Hess Midstream Partners by 20.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,741 shares of the company’s stock worth $9,504,000 after purchasing an additional 37,794 shares during the period. Geode Capital Management LLC boosted its position in Hess Midstream Partners by 21.6% in the 2nd quarter. Geode Capital Management LLC now owns 5,778 shares of the company’s stock valued at $223,000 after buying an additional 1,026 shares during the period. Finally, Creative Planning boosted its holdings in shares of Hess Midstream Partners by 10.6% in the second quarter. Creative Planning now owns 8,596 shares of the company’s stock valued at $331,000 after purchasing an additional 826 shares during the period. Institutional investors own 98.97% of the company’s stock.

Wall Street Analyst Weigh In

HESM has been the topic of a number of recent research reports. The Goldman Sachs Group downgraded shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective on the stock. in a research note on Monday, April 20th. Morgan Stanley reaffirmed an “underweight” rating and issued a $39.00 price objective on shares of Hess Midstream Partners in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. One investment 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. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $38.86.

Hess Midstream Partners Stock Up 0.5%

HESM stock opened at $40.67 on Friday. The firm has a market cap of $8.38 billion, a PE ratio of 14.07 and a beta of 0.53. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $44.14. The company has a debt-to-equity ratio of 9.97, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s fifty day moving average is $38.77 and its 200 day moving average is $37.95.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $389.51 million. During the same period last year, the firm posted $0.65 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts forecast that Hess Midstream Partners LP will post 2.87 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were issued 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 was Thursday, May 7th. This represents a $3.12 annualized dividend and a yield of 7.7%. Hess Midstream Partners’s dividend payout ratio (DPR) 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.