Miller Howard Investments Inc. NY Boosts Holdings in Hess Midstream Partners LP $HESM

Miller Howard Investments Inc. NY grew its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 18.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,507,121 shares of the company’s stock after purchasing an additional 234,627 shares during the period. Hess Midstream Partners makes up 1.6% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 26th largest holding. Miller Howard Investments Inc. NY owned approximately 0.72% of Hess Midstream Partners worth $52,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Kesler Norman & Wride LLC boosted its position in Hess Midstream Partners by 0.9% during the 2nd quarter. Kesler Norman & Wride LLC now owns 26,507 shares of the company’s stock valued at $1,021,000 after acquiring an additional 241 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after purchasing an additional 300 shares in the last quarter. Virtus Investment Advisers LLC boosted its position in shares of Hess Midstream Partners by 7.6% during the second quarter. Virtus Investment Advisers LLC now owns 4,456 shares of the company’s stock valued at $172,000 after purchasing an additional 315 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Hess Midstream Partners by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company’s stock worth $93,000 after purchasing an additional 333 shares during the period. Finally, CENTRAL TRUST Co raised its holdings in Hess Midstream Partners by 34.9% in the second quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock worth $59,000 after purchasing an additional 400 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

Hess Midstream Partners Stock Performance

HESM stock opened at $33.94 on Friday. The stock’s 50 day simple moving average is $33.78 and its 200 day simple moving average is $36.56. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 8.83. 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 $7.05 billion, a PE ratio of 12.03 and a beta of 0.61.

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 firm had revenue of $420.90 million during the quarter, compared to analysts’ expectations of $424.36 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. As a group, research analysts forecast that Hess Midstream Partners LP will post 2.5 earnings per share 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 issued a dividend of $0.7548 per share. This represents a $3.02 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date of this dividend was Thursday, November 6th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.74. Hess Midstream Partners’s payout ratio is 107.09%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Hess Midstream Partners in a report on Tuesday, September 30th. They set a “neutral” rating and a $36.00 target price on the stock. Wall Street Zen cut shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Raymond James Financial downgraded shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Hess Midstream Partners in a research report on Monday, December 29th. Finally, Wells Fargo & Company cut Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research note on Friday, September 19th. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hess Midstream Partners has a consensus rating of “Reduce” and an average target price of $40.57.

About Hess Midstream Partners

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.