CIBC Bancorp USA Inc. Acquires Shares of 1,692,612 Hess Midstream Partners LP $HESM

CIBC Bancorp USA Inc. acquired a new stake in shares of Hess Midstream Partners LP (NYSE:HESM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,692,612 shares of the company’s stock, valued at approximately $58,480,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in HESM. Marquette Asset Management LLC bought a new stake in shares of Hess Midstream Partners during the third quarter worth about $30,000. Geneos Wealth Management Inc. lifted its position in Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after acquiring an additional 300 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Hess Midstream Partners by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company’s stock valued at $93,000 after purchasing an additional 333 shares during the last quarter. Larson Financial Group LLC boosted its stake in Hess Midstream Partners by 668.5% during the 3rd quarter. Larson Financial Group LLC now owns 3,074 shares of the company’s stock valued at $106,000 after purchasing an additional 2,674 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in Hess Midstream Partners during the 3rd quarter worth approximately $160,000. 98.97% of the stock is owned by institutional investors.

Hess Midstream Partners Trading Up 0.7%

Shares of Hess Midstream Partners stock opened at $39.60 on Wednesday. The firm has a market cap of $8.23 billion, a PE ratio of 13.85 and a beta of 0.60. Hess Midstream Partners LP has a 1 year low of $31.63 and a 1 year high of $44.14. The company has a debt-to-equity ratio of 8.54, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a fifty day moving average price of $36.67 and a 200-day moving average price of $35.43.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings results on Monday, February 2nd. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. The company had revenue of $374.50 million for the quarter, compared to the consensus estimate of $419.16 million. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. Equities research analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Thursday, February 5th were paid a $0.7641 dividend. The ex-dividend date was Thursday, February 5th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.75. This represents a $3.06 dividend on an annualized basis and a yield of 7.7%. Hess Midstream Partners’s dividend payout ratio is presently 106.99%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Wells Fargo & Company upped their price target on Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Finally, Raymond James Financial lowered Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.71.

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.