Connor Clark & Lunn Investment Management Ltd. Sells 32,625 Shares of Hess Midstream Partners LP $HESM

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 33.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,337 shares of the company’s stock after selling 32,625 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hess Midstream Partners were worth $2,419,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in HESM. Grove Bank & Trust bought a new stake in shares of Hess Midstream Partners during the second quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd bought a new stake in Hess Midstream Partners during the fourth quarter valued at about $44,000. IFP Advisors Inc grew its position in shares of Hess Midstream Partners by 70.0% in the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock worth $49,000 after buying an additional 582 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Hess Midstream Partners by 124.4% during the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position 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 buying an additional 300 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HESM. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. Morgan Stanley reiterated an “underweight” rating and issued a $39.00 price target on shares of Hess Midstream Partners in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Hess Midstream Partners presently has an average rating of “Reduce” and a consensus target price of $37.67.

Hess Midstream Partners Trading Down 0.7%

Shares of HESM stock opened at $39.57 on Friday. Hess Midstream Partners LP has a twelve month low of $31.63 and a twelve month high of $41.63. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 13.64 and a beta of 0.52. The company’s 50-day moving average price is $39.42 and its 200-day moving average price is $38.85. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 9.39.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The business had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $395.96 million. During the same period last year, the business earned $0.74 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities analysts predict that Hess Midstream Partners LP will post 2.94 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, August 6th were paid a $0.7888 dividend. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date was Thursday, August 6th. Hess Midstream Partners’s payout ratio is presently 108.97%.

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.