Hess Midstream Partners LP $HESM Stock Holdings Lessened by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in Hess Midstream Partners LP (NYSE:HESM) by 50.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 812,519 shares of the company’s stock after selling 827,919 shares during the period. JPMorgan Chase & Co. owned about 0.38% of Hess Midstream Partners worth $31,290,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in shares of Hess Midstream Partners by 10.0% during the first quarter. Goldman Sachs Group Inc. now owns 7,233,773 shares of the company’s stock valued at $305,916,000 after purchasing an additional 655,062 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Hess Midstream Partners by 9.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,503,752 shares of the company’s stock worth $232,754,000 after buying an additional 492,683 shares during the period. Eagle Global Advisors LLC grew its position in shares of Hess Midstream Partners by 53.7% during the second quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company’s stock worth $94,497,000 after acquiring an additional 857,669 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in Hess Midstream Partners by 25.8% during the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 2,297,200 shares of the company’s stock valued at $88,465,000 after purchasing an additional 471,715 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Hess Midstream Partners by 51.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,519,185 shares of the company’s stock worth $58,504,000 after purchasing an additional 516,136 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Stock Performance

Shares of HESM opened at $33.22 on Wednesday. The company has a debt-to-equity ratio of 8.83, a current ratio of 0.75 and a quick ratio of 0.75. The firm’s 50 day moving average is $33.46 and its 200-day moving average is $37.37. Hess Midstream Partners LP has a 12-month low of $31.63 and a 12-month high of $44.14. The stock has a market capitalization of $6.90 billion, a P/E ratio of 11.78 and a beta of 0.62.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Monday, November 3rd. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The firm had revenue of $420.90 million during the quarter, compared to analysts’ expectations of $424.36 million. Hess Midstream Partners had a net margin of 20.46% and a return on equity of 69.03%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. Equities research analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Thursday, November 6th were given a dividend of $0.7548 per share. This represents a $3.02 dividend on an annualized basis and a dividend yield of 9.1%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Thursday, November 6th. Hess Midstream Partners’s payout ratio is presently 107.09%.

Analyst Ratings Changes

Several brokerages have weighed in on HESM. Wall Street Zen downgraded Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Zacks Research raised shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Raymond James Financial reiterated an “outperform” rating and issued a $35.00 target price (down previously from $48.00) on shares of Hess Midstream Partners in a research report on Friday, October 24th. The Goldman Sachs Group started coverage on shares of Hess Midstream Partners in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $36.00 price target for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hess Midstream Partners in a research note on Monday. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $40.57.

Hess Midstream Partners 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.