BI Asset Management Fondsmaeglerselskab A S Raises Position in Hess Midstream Partners LP $HESM

BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 224.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 399,951 shares of the company’s stock after buying an additional 276,868 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.19% of Hess Midstream Partners worth $13,818,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in HESM. Invesco Ltd. boosted its stake in shares of Hess Midstream Partners by 50.5% in the second quarter. Invesco Ltd. now owns 6,022,208 shares of the company’s stock worth $231,915,000 after acquiring an additional 2,020,430 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in Hess Midstream Partners by 92.4% in the 2nd 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 in the last quarter. Fractal Investments LLC boosted its stake in Hess Midstream Partners by 306.9% during the 3rd quarter. Fractal Investments LLC now owns 1,185,220 shares of the company’s stock worth $40,949,000 after purchasing an additional 893,973 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Hess Midstream Partners by 179.8% during the second quarter. Balyasny Asset Management L.P. now owns 1,209,075 shares of the company’s stock worth $46,561,000 after buying an additional 776,924 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Hess Midstream Partners by 51.5% during the second quarter. Bank of New York Mellon Corp now owns 1,519,185 shares of the company’s stock worth $58,504,000 after buying an additional 516,136 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Stock Performance

Hess Midstream Partners stock opened at $34.92 on Friday. The firm has a 50 day simple moving average of $34.53 and a 200-day simple moving average of $36.14. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 12.21 and a beta of 0.62. The company has a debt-to-equity ratio of 8.83, a current ratio of 0.75 and a quick ratio of 0.75. Hess Midstream Partners LP has a 1-year low of $31.63 and a 1-year high of $44.14.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Monday, February 2nd. The company reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. The firm had revenue of $374.50 million for the quarter, compared to analysts’ expectations of $419.16 million. Hess Midstream Partners had a return on equity of 73.17% and a net margin of 21.77%.The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. On average, analysts expect 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 will be paid on Friday, February 13th. Shareholders of record on Thursday, February 5th will be given a $0.7641 dividend. The ex-dividend date of this dividend is Thursday, February 5th. This is an increase 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 8.8%. Hess Midstream Partners’s dividend payout ratio is currently 105.59%.

Wall Street Analysts Forecast Growth

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

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.