Legal & General Group Plc Raises Stock Holdings in Hess Midstream Partners LP $HESM

Legal & General Group Plc raised its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 13.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,386 shares of the company’s stock after buying an additional 16,119 shares during the period. Legal & General Group Plc owned about 0.06% of Hess Midstream Partners worth $5,137,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Hess Midstream Partners during the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Hess Midstream Partners during the 1st quarter valued at about $31,000. Ameritas Advisory Services LLC bought a new position in Hess Midstream Partners during the 2nd quarter valued at approximately $50,000. CENTRAL TRUST Co raised its position in Hess Midstream Partners by 34.9% during the 2nd quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock valued at $59,000 after purchasing an additional 400 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Hess Midstream Partners by 124.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,363 shares of the company’s stock worth $91,000 after buying an additional 1,310 shares during the period. Institutional investors own 98.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HESM shares. Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Wells Fargo & Company downgraded shares of Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research report on Friday, September 19th. JPMorgan Chase & Co. raised their target price on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Wall Street Zen lowered shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hess Midstream Partners in a research report on Monday. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.57.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $34.22 on Friday. The company has a 50 day simple moving average of $33.42 and a two-hundred day simple moving average of $37.32. Hess Midstream Partners LP has a fifty-two week low of $31.63 and a fifty-two week high of $44.14. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 12.13 and a beta of 0.62. The company has a debt-to-equity ratio of 8.83, a quick ratio of 0.75 and a current ratio of 0.75.

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

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Thursday, November 6th were given a $0.7548 dividend. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $3.02 annualized dividend and a dividend yield of 8.8%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.74. Hess Midstream Partners’s payout ratio is presently 107.09%.

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.