Hess Midstream Partners LP $HESM Shares Sold by TD Asset Management Inc

TD Asset Management Inc decreased its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 14.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,388,748 shares of the company’s stock after selling 413,176 shares during the quarter. TD Asset Management Inc owned about 1.14% of Hess Midstream Partners worth $82,531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alps Advisors Inc. grew its stake in Hess Midstream Partners by 1.2% during the 3rd quarter. Alps Advisors Inc. now owns 29,295,245 shares of the company’s stock valued at $1,012,151,000 after acquiring an additional 338,729 shares in the last quarter. Invesco Ltd. lifted its stake in Hess Midstream Partners by 50.5% in the 2nd quarter. Invesco Ltd. now owns 6,022,208 shares of the company’s stock worth $231,915,000 after purchasing an additional 2,020,430 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Hess Midstream Partners by 0.9% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 2,317,200 shares of the company’s stock worth $80,059,000 after purchasing an additional 20,000 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Hess Midstream Partners by 179.3% in the third quarter. JPMorgan Chase & Co. now owns 2,269,146 shares of the company’s stock valued at $78,399,000 after purchasing an additional 1,456,627 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Hess Midstream Partners by 92.4% in the second quarter. Westwood Holdings Group Inc. now owns 2,096,560 shares of the company’s stock valued at $80,739,000 after purchasing an additional 1,006,998 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HESM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Hess Midstream Partners in a research report on Monday, December 29th. Wall Street Zen lowered Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Zacks Research lowered shares of Hess Midstream Partners from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Finally, Raymond James Financial cut shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $40.57.

Hess Midstream Partners Stock Performance

Shares of Hess Midstream Partners stock opened at $38.60 on Friday. The firm has a market cap of $8.02 billion, a PE ratio of 13.50 and a beta of 0.62. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 8.83. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $44.14. The business’s fifty day simple moving average is $35.40 and its 200-day simple moving average is $35.72.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 73.17%. The firm had revenue of $374.50 million for the quarter, compared to analyst estimates of $419.16 million. During the same period in the previous year, the firm earned $0.68 EPS. Hess Midstream Partners’s revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Hess Midstream Partners LP will post 2.5 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, February 13th. Shareholders of record on Thursday, February 5th were paid a dividend of $0.7641 per share. This represents a $3.06 dividend on an annualized basis and a yield of 7.9%. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, February 5th. Hess Midstream Partners’s payout ratio is currently 106.99%.

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.