Inspire Investing LLC Buys New Shares in Hess Midstream Partners LP $HESM

Inspire Investing LLC bought a new stake in shares of Hess Midstream Partners LP (NYSE:HESM) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 78,446 shares of the company’s stock, valued at approximately $2,706,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Balyasny Asset Management L.P. lifted its stake in Hess Midstream Partners by 167.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 972,229 shares of the company’s stock valued at $33,542,000 after purchasing an additional 608,097 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in Hess Midstream Partners in the 4th quarter valued at approximately $283,000. Basso Capital Management L.P. increased its stake in Hess Midstream Partners by 4.5% in the 4th quarter. Basso Capital Management L.P. now owns 29,000 shares of the company’s stock valued at $1,000,000 after buying an additional 1,250 shares during the period. Guggenheim Capital LLC increased its stake in Hess Midstream Partners by 6.3% in the 4th quarter. Guggenheim Capital LLC now owns 25,328 shares of the company’s stock valued at $874,000 after buying an additional 1,497 shares during the period. Finally, Nexpoint Asset Management L.P. acquired a new position in Hess Midstream Partners in the 4th quarter valued at approximately $7,656,000. 98.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in 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. Zacks Research upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Weiss Ratings upgraded shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Morgan Stanley lowered shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective on the stock. in a research note on Wednesday, June 10th. Finally, The Goldman Sachs Group lowered shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective on the stock. in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $38.71.

Hess Midstream Partners Stock Performance

Shares of HESM opened at $36.64 on Thursday. The company’s fifty day moving average is $38.60 and its 200-day moving average is $37.13. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $44.14. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 12.68 and a beta of 0.52. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The company had revenue of $390.10 million for the quarter, compared to analyst estimates of $389.51 million. During the same quarter in the prior year, the business posted $0.65 EPS. Hess Midstream Partners’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Hess Midstream Partners LP will post 2.99 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were paid a dividend of $0.7792 per share. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. The ex-dividend date was Thursday, May 7th. This represents a $3.12 annualized dividend and a dividend yield of 8.5%. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 107.96%.

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.