Healthcare of Ontario Pension Plan Trust Fund Sells 228,318 Shares of Hess Midstream Partners LP $HESM

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in Hess Midstream Partners LP (NYSE:HESM) by 76.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 70,591 shares of the company’s stock after selling 228,318 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Hess Midstream Partners were worth $2,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Miller Howard Investments Inc. NY raised its position in Hess Midstream Partners by 3.2% in the first quarter. Miller Howard Investments Inc. NY now owns 1,491,899 shares of the company’s stock worth $57,990,000 after acquiring an additional 45,584 shares during the period. UBS Group AG grew its position in shares of Hess Midstream Partners by 3.5% during the 4th quarter. UBS Group AG now owns 2,038,226 shares of the company’s stock valued at $70,319,000 after acquiring an additional 68,984 shares during the period. Inspire Investing LLC bought a new stake in shares of Hess Midstream Partners during the 4th quarter valued at $2,706,000. TD Asset Management Inc increased its stake in shares of Hess Midstream Partners by 10.0% in the 4th quarter. TD Asset Management Inc now owns 2,626,438 shares of the company’s stock worth $90,612,000 after purchasing an additional 237,690 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Hess Midstream Partners by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock worth $313,301,000 after purchasing an additional 330,802 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HESM shares. The Goldman Sachs Group cut Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price on the stock. in a report on Monday, April 20th. Morgan Stanley restated an “underweight” rating and issued a $39.00 price target on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $38.86.

Hess Midstream Partners Stock Performance

Shares of NYSE HESM opened at $40.94 on Friday. The stock has a market cap of $8.44 billion, a PE ratio of 14.16 and a beta of 0.53. Hess Midstream Partners LP has a 1 year low of $31.63 and a 1 year high of $44.14. The firm has a fifty day moving average price of $38.76 and a 200-day moving average price of $38.19. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92.

Hess Midstream Partners (NYSE:HESM) last released its 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 net margin of 22.64% and a return on equity of 84.47%. The company had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $389.51 million. During the same quarter in the previous year, the company earned $0.65 EPS. Hess Midstream Partners’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts anticipate that Hess Midstream Partners LP will post 2.86 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, August 6th will be issued a dividend of $0.7888 per share. This is a boost 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 7.7%. The ex-dividend date of this dividend is Thursday, August 6th. Hess Midstream Partners’s payout ratio is 107.96%.

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.