PFG Investments LLC Grows Stock Holdings in Hess Midstream Partners LP $HESM

PFG Investments LLC boosted its stake in Hess Midstream Partners LP (NYSE:HESM) by 98.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,866 shares of the company’s stock after acquiring an additional 20,722 shares during the period. PFG Investments LLC’s holdings in Hess Midstream Partners were worth $1,627,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HESM. Private Advisor Group LLC acquired a new stake in Hess Midstream Partners during the 1st quarter worth approximately $200,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Hess Midstream Partners in the 1st quarter valued at approximately $4,208,000. Severin Investments LLC increased its holdings in shares of Hess Midstream Partners by 69.7% in the first quarter. Severin Investments LLC now owns 13,764 shares of the company’s stock valued at $535,000 after purchasing an additional 5,654 shares during the period. Castellan Group increased its holdings in shares of Hess Midstream Partners by 9.9% in the first quarter. Castellan Group now owns 98,872 shares of the company’s stock valued at $3,843,000 after purchasing an additional 8,909 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in shares of Hess Midstream Partners by 12.1% during the first quarter. Venturi Wealth Management LLC now owns 15,470 shares of the company’s stock worth $601,000 after purchasing an additional 1,666 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Stock Performance

Shares of HESM stock opened at $38.14 on Friday. 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 stock has a 50 day simple moving average of $38.44 and a 200-day simple moving average of $37.40. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 13.20 and a beta of 0.53. 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 posted its quarterly earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $390.10 million for the quarter, compared to the consensus estimate of $389.51 million. During the same period in the previous year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Hess Midstream Partners LP will post 2.99 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were given a dividend of $0.7792 per share. This represents a $3.12 annualized dividend and a dividend yield of 8.2%. The ex-dividend date was Thursday, May 7th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s payout ratio is presently 107.96%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HESM. The Goldman Sachs Group downgraded Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target for the company. in a report on Monday, April 20th. Morgan Stanley cut shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective on the stock. in a research note on Wednesday, June 10th. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. Finally, Wells Fargo & Company raised their target price on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” 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.