Hess Midstream Partners LP $HESM Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 20.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 351,650 shares of the company’s stock after selling 90,079 shares during the period. Jennison Associates LLC owned 0.17% of Hess Midstream Partners worth $12,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D raised its position in shares of Hess Midstream Partners by 29.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 66,673 shares of the company’s stock worth $2,300,000 after purchasing an additional 15,195 shares during the last quarter. Wealthstar Advisors LLC grew its stake in Hess Midstream Partners by 40.5% during the 4th quarter. Wealthstar Advisors LLC now owns 20,693 shares of the company’s stock valued at $714,000 after acquiring an additional 5,967 shares in the last quarter. Investment Management Corp VA ADV grew its stake in Hess Midstream Partners by 3.0% during the 4th quarter. Investment Management Corp VA ADV now owns 12,519 shares of the company’s stock valued at $432,000 after acquiring an additional 362 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in Hess Midstream Partners by 1.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 25,766 shares of the company’s stock valued at $889,000 after acquiring an additional 330 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in Hess Midstream Partners by 26.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 20,338 shares of the company’s stock valued at $702,000 after acquiring an additional 4,278 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Stock Performance

NYSE:HESM opened at $38.17 on Friday. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $7.93 billion, a P/E ratio of 13.34 and a beta of 0.54. The company has a 50 day moving average price of $38.74 and a 200 day moving average price of $35.85. Hess Midstream Partners LP has a fifty-two week low of $31.63 and a fifty-two week high of $44.14.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Monday, February 2nd. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. The firm had revenue of $374.50 million during the quarter, compared to analysts’ expectations of $419.16 million. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. Equities research analysts forecast that Hess Midstream Partners LP will post 2.96 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, May 7th will be given a dividend of $0.7792 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend is Thursday, May 7th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s dividend payout ratio is 106.99%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HESM. Wells Fargo & Company upped their price objective on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. The Goldman Sachs Group cut shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective for the company. in a research note on Monday, April 20th. Weiss Ratings raised shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Raymond James Financial cut shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Finally, Zacks Research raised shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.14.

Hess Midstream Partners Profile

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.