Connor Clark & Lunn Investment Management Ltd. Has $6.70 Million Stake in Hess Midstream Partners LP $HESM

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 49.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,898 shares of the company’s stock after selling 166,930 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hess Midstream Partners were worth $6,697,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of HESM. Thurston Springer Miller Herd & Titak Inc. bought a new position in Hess Midstream Partners during the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Hess Midstream Partners in the first quarter valued at approximately $31,000. Ameritas Advisory Services LLC acquired a new stake in Hess Midstream Partners in the second quarter worth $50,000. Farther Finance Advisors LLC raised its holdings in Hess Midstream Partners by 124.4% in the second quarter. Farther Finance Advisors LLC now owns 2,363 shares of the company’s stock worth $91,000 after purchasing an additional 1,310 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in shares of Hess Midstream Partners by 40.3% during the second quarter. Parkside Financial Bank & Trust now owns 3,180 shares of the company’s stock worth $122,000 after purchasing an additional 913 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

Hess Midstream Partners Trading Down 1.8%

Shares of NYSE:HESM opened at $33.30 on Thursday. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $44.14. The stock has a market capitalization of $6.99 billion, a PE ratio of 11.81 and a beta of 0.62. The company’s 50-day moving average price is $35.14 and its two-hundred day moving average price is $37.86. 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 (NYSE:HESM) last issued its earnings results on Monday, November 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. The company had revenue of $420.90 million during the quarter, compared to the consensus estimate of $424.36 million. Hess Midstream Partners had a return on equity of 69.03% and a net margin of 20.46%.The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. On average, equities analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, November 6th will be paid a $0.7548 dividend. This represents a $3.02 dividend on an annualized basis and a yield of 9.1%. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Thursday, November 6th. Hess Midstream Partners’s payout ratio is 107.09%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HESM. Wells Fargo & Company cut 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. boosted their target price on Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Morgan Stanley started coverage on Hess Midstream Partners in a research report on Friday, July 25th. They issued an “equal weight” rating and a $48.00 price objective for the company. Wall Street Zen upgraded shares of Hess Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Finally, Citigroup dropped their price objective on shares of Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Hess Midstream Partners currently has a consensus rating of “Hold” and an average target price 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.