28,499 Hess Midstream Partners LP $HESM Shares Acquired by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY grew its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 1.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,586,630 shares of the company’s stock after purchasing an additional 28,499 shares during the period. Hess Midstream Partners makes up approximately 1.6% of Miller Howard Investments Inc. NY’s holdings, making the stock its 23rd largest position. Miller Howard Investments Inc. NY’s holdings in Hess Midstream Partners were worth $59,292,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HESM. Bank of New York Mellon Corp grew its stake in shares of Hess Midstream Partners by 67.5% in the 1st quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock worth $145,840,000 after buying an additional 1,512,007 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Hess Midstream Partners by 1,110.7% in the first quarter. Lazard Asset Management LLC now owns 1,069,244 shares of the company’s stock worth $41,562,000 after acquiring an additional 980,929 shares in the last quarter. Algert Global LLC boosted its holdings in Hess Midstream Partners by 362.1% in the second quarter. Algert Global LLC now owns 377,010 shares of the company’s stock worth $14,176,000 after acquiring an additional 295,432 shares in the last quarter. First Trust Advisors LP boosted its holdings in Hess Midstream Partners by 34.9% in the first quarter. First Trust Advisors LP now owns 959,321 shares of the company’s stock worth $37,289,000 after acquiring an additional 247,973 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Hess Midstream Partners in the first quarter worth $6,756,000. 98.97% of the stock is owned by institutional investors.

Hess Midstream Partners Stock Performance

HESM stock opened at $31.18 on Tuesday. The stock has a market capitalization of $6.43 billion, a PE ratio of 10.75 and a beta of 0.58. The stock’s 50 day simple moving average is $37.13 and its 200 day simple moving average is $37.97. Hess Midstream Partners LP has a 12-month low of $29.52 and a 12-month high of $41.44. 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 posted its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $395.96 million. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. As a group, research analysts forecast that Hess Midstream Partners LP will post 3.29 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Thursday, November 5th will be issued a $0.7985 dividend. This represents a $3.19 annualized dividend and a yield of 10.2%. The ex-dividend date is Thursday, November 5th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.7888. Hess Midstream Partners’s dividend payout ratio is 108.62%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HESM. Barclays set a $32.00 price target on Hess Midstream Partners in a report on Friday. Weiss Ratings cut shares of Hess Midstream Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. UBS Group cut their price objective on shares of Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Raymond James Financial raised shares of Hess Midstream Partners from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research report on Friday. Finally, Citigroup reduced their price objective on shares of Hess Midstream Partners from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Hess Midstream Partners presently has a consensus rating of “Reduce” and a consensus price target of $34.00.

About Hess Midstream Partners

Hess Midstream Partners LP (NYSE:HESM) is a midstream energy company that owns and operates infrastructure supporting oil and gas production, primarily in the Bakken and Three Forks shale plays of North Dakota. The company provides essential services between the wellhead and downstream markets rather than exploring for or producing hydrocarbons itself.

Its operations include gathering, processing, storage and transportation services for crude oil, natural gas and natural gas liquids. Hess Midstream also provides produced-water gathering and disposal services, helping manage water generated during oil and gas production.