Hess Midstream Partners LP $HESM Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 42.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 325,566 shares of the company’s stock after purchasing an additional 97,012 shares during the quarter. NEOS Investment Management LLC owned approximately 0.16% of Hess Midstream Partners worth $12,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its stake in shares of Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after buying an additional 300 shares during the last quarter. Palo Duro Investment Partners LP boosted its stake in Hess Midstream Partners by 3.6% during the 2nd quarter. Palo Duro Investment Partners LP now owns 10,309 shares of the company’s stock valued at $388,000 after acquiring an additional 363 shares during the last quarter. Cetera Investment Advisers boosted its stake in Hess Midstream Partners by 0.8% during the 4th quarter. Cetera Investment Advisers now owns 44,931 shares of the company’s stock valued at $1,550,000 after acquiring an additional 378 shares during the last quarter. Creative Planning boosted its stake in Hess Midstream Partners by 4.7% during the 3rd quarter. Creative Planning now owns 9,000 shares of the company’s stock valued at $311,000 after acquiring an additional 404 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in Hess Midstream Partners by 0.5% during the 2nd quarter. Sanctuary Advisors LLC now owns 82,818 shares of the company’s stock worth $3,114,000 after acquiring an additional 408 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Partners Stock Performance

Shares of HESM opened at $40.03 on Friday. The stock has a market capitalization of $8.25 billion, a PE ratio of 13.80 and a beta of 0.52. The business’s fifty day moving average price is $39.67 and its 200 day moving average price is $38.98. The company has a debt-to-equity ratio of 9.39, a current ratio of 0.77 and a quick ratio of 0.77. Hess Midstream Partners LP has a 12-month low of $31.63 and a 12-month high of $41.44.

Hess Midstream Partners (NYSE:HESM) last issued its 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. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The company had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $395.96 million. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. Equities research analysts forecast that Hess Midstream Partners LP will post 2.94 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, August 6th were given a dividend of $0.7888 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.9%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. Hess Midstream Partners’s payout ratio is currently 108.97%.

Wall Street Analyst Weigh In

HESM has been the subject of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. Morgan Stanley reaffirmed an “underweight” rating and set a $39.00 price target on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $37.67.

Hess Midstream Partners Company 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.