CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Decreases Stock Position in Hess Midstream Partners LP $HESM

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its stake in Hess Midstream Partners LP (NYSE:HESM) by 41.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,357,200 shares of the company’s stock after selling 960,000 shares during the period. Hess Midstream Partners makes up approximately 2.7% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 15th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Hess Midstream Partners were worth $46,823,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. PFG Investments LLC increased its holdings in shares of Hess Midstream Partners by 30.3% in the fourth quarter. PFG Investments LLC now owns 21,144 shares of the company’s stock worth $729,000 after buying an additional 4,923 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Hess Midstream Partners by 24.6% in the fourth quarter. Farther Finance Advisors LLC now owns 3,360 shares of the company’s stock worth $116,000 after buying an additional 664 shares during the period. Castellan Group increased its holdings in shares of Hess Midstream Partners by 6.4% in the fourth quarter. Castellan Group now owns 89,963 shares of the company’s stock worth $3,104,000 after buying an additional 5,385 shares during the period. U.S. Capital Wealth Advisors LLC increased its holdings in shares of Hess Midstream Partners by 7.4% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 51,587 shares of the company’s stock worth $1,780,000 after buying an additional 3,549 shares during the period. Finally, Apollon Wealth Management LLC increased its holdings in shares of Hess Midstream Partners by 19.0% in the fourth quarter. Apollon Wealth Management LLC now owns 11,395 shares of the company’s stock worth $393,000 after buying an additional 1,822 shares during the period. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Up 0.2%

NYSE HESM opened at $37.87 on Friday. The company has a debt-to-equity ratio of 8.54, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $7.87 billion, a PE ratio of 13.24 and a beta of 0.58. Hess Midstream Partners LP has a 1 year low of $31.63 and a 1 year high of $44.14. The business’s 50-day moving average is $38.55 and its 200 day moving average is $35.58.

Hess Midstream Partners (NYSE:HESM) last posted its earnings results on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. The company had revenue of $374.50 million for the quarter, compared to analysts’ expectations of $419.16 million. Hess Midstream Partners had a return on equity of 74.89% and a net margin of 21.77%.Hess Midstream Partners’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. Sell-side analysts forecast that Hess Midstream Partners LP will post 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Thursday, February 5th were given a dividend of $0.7641 per share. This represents a $3.06 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend was Thursday, February 5th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.75. Hess Midstream Partners’s payout ratio is presently 106.99%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, Raymond James Financial cut Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.71.

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.