VIRGINIA RETIREMENT SYSTEMS ET Al Has $318,000 Stake in Hess Midstream Partners LP $HESM

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 87.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,223 shares of the company’s stock after selling 65,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Hess Midstream Partners were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of HESM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Hess Midstream Partners during the 3rd quarter worth approximately $187,691,000. CIBC Bancorp USA Inc. acquired a new stake in Hess Midstream Partners in the 3rd quarter valued at $58,480,000. JPMorgan Chase & Co. grew its position in Hess Midstream Partners by 179.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,269,146 shares of the company’s stock valued at $78,399,000 after purchasing an additional 1,456,627 shares during the period. Balyasny Asset Management L.P. grew its position in Hess Midstream Partners by 179.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,209,075 shares of the company’s stock valued at $46,561,000 after purchasing an additional 776,924 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in Hess Midstream Partners by 62.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,688,612 shares of the company’s stock valued at $58,342,000 after purchasing an additional 651,329 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HESM. Morgan Stanley reduced their price target on shares of Hess Midstream Partners from $42.00 to $38.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Weiss Ratings raised shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Wells Fargo & Company lifted their price target on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Zacks Research raised shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, The Goldman Sachs Group downgraded shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target for the company. in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Hess Midstream Partners has a consensus rating of “Hold” and a consensus price target of $38.71.

Hess Midstream Partners Trading Up 0.3%

NYSE HESM opened at $40.73 on Wednesday. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of 14.09 and a beta of 0.54. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $44.14. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92. The business’s fifty day moving average is $38.87 and its 200-day moving average is $36.33.

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

Hess Midstream Partners Increases Dividend

The firm also recently announced 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 represents a $3.12 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date was Thursday, May 7th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 107.96%.

Hess Midstream Partners Company 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.