Man Group plc Reduces Holdings in Hess Midstream Partners LP $HESM

Man Group plc reduced its position in Hess Midstream Partners LP (NYSE:HESM) by 56.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,207 shares of the company’s stock after selling 71,866 shares during the quarter. Man Group plc’s holdings in Hess Midstream Partners were worth $2,076,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HESM. Royal Bank of Canada grew its holdings in shares of Hess Midstream Partners by 33.7% during the first quarter. Royal Bank of Canada now owns 129,902 shares of the company’s stock worth $5,494,000 after buying an additional 32,740 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Hess Midstream Partners in the first quarter worth about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Hess Midstream Partners by 20.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,741 shares of the company’s stock worth $9,504,000 after acquiring an additional 37,794 shares during the last quarter. Geode Capital Management LLC grew its stake in Hess Midstream Partners by 21.6% during the 2nd quarter. Geode Capital Management LLC now owns 5,778 shares of the company’s stock valued at $223,000 after acquiring an additional 1,026 shares in the last quarter. Finally, Creative Planning raised its holdings in Hess Midstream Partners by 10.6% in the 2nd quarter. Creative Planning now owns 8,596 shares of the company’s stock valued at $331,000 after acquiring an additional 826 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HESM. Morgan Stanley reissued an “underweight” rating and issued a $39.00 target price on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Hess Midstream Partners has a consensus rating of “Reduce” and a consensus price target of $37.67.

Hess Midstream Partners Price Performance

HESM stock opened at $40.18 on Wednesday. Hess Midstream Partners LP has a 52-week low of $31.63 and a 52-week high of $41.63. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 13.86 and a beta of 0.52. The business has a fifty day moving average of $39.53 and a two-hundred day moving average of $38.92.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. As a group, research analysts anticipate that Hess Midstream Partners LP will post 2.94 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.7888 per share. This represents a $3.16 annualized dividend and a yield of 7.9%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, August 6th. Hess Midstream Partners’s payout ratio is 108.62%.

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.