Hess Midstream Partners LP $HESM Shares Sold by BROOKFIELD Corp ON

BROOKFIELD Corp ON cut its holdings in Hess Midstream Partners LP (NYSE:HESM) by 32.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 861,823 shares of the company’s stock after selling 408,789 shares during the quarter. BROOKFIELD Corp ON owned about 0.40% of Hess Midstream Partners worth $36,446,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Hess Midstream Partners in the 1st quarter valued at $31,000. Farther Finance Advisors LLC grew its position in Hess Midstream Partners by 840.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock valued at $45,000 after buying an additional 941 shares during the last quarter. FSC Wealth Advisors LLC purchased a new position in Hess Midstream Partners in the 1st quarter valued at $58,000. IFP Advisors Inc grew its position in Hess Midstream Partners by 20.0% in the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company’s stock valued at $149,000 after buying an additional 586 shares during the last quarter. Finally, PFG Investments LLC purchased a new position in Hess Midstream Partners in the 1st quarter valued at $202,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Partners Trading Up 0.6%

NYSE:HESM opened at $39.76 on Friday. The stock has a fifty day moving average price of $40.53 and a two-hundred day moving average price of $39.53. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 14.72 and a beta of 0.68. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. Hess Midstream Partners LP has a 1 year low of $33.59 and a 1 year high of $44.14.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. The firm had revenue of $414.20 million during the quarter, compared to analysts’ expectations of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.Hess Midstream Partners’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. As a group, sell-side analysts anticipate that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were given a dividend of $0.737 per share. The ex-dividend date was Thursday, August 7th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.71. This represents a $2.95 dividend on an annualized basis and a yield of 7.4%. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 109.26%.

Analyst Ratings Changes

HESM has been the topic of a number of analyst reports. Citigroup reiterated a “neutral” rating and issued a $41.00 price objective (down from $42.00) on shares of Hess Midstream Partners in a research report on Thursday. Morgan Stanley initiated coverage on shares of Hess Midstream Partners in a research report on Friday, July 25th. They issued an “equal weight” rating and a $48.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of Hess Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company increased their price objective on Hess Midstream Partners from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $45.17.

Insider Buying and Selling

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hess Midstream Partners Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.