JPMorgan Chase & Co. Acquires 1,456,627 Shares of Hess Midstream Partners LP $HESM

JPMorgan Chase & Co. increased its holdings in Hess Midstream Partners LP (NYSE:HESM) by 179.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,269,146 shares of the company’s stock after purchasing an additional 1,456,627 shares during the quarter. JPMorgan Chase & Co. owned 1.08% of Hess Midstream Partners worth $78,399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Marquette Asset Management LLC bought a new position in shares of Hess Midstream Partners during the third quarter valued at about $30,000. CENTRAL TRUST Co grew its position in Hess Midstream Partners by 34.9% during the 2nd quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock worth $59,000 after acquiring an additional 400 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after acquiring an additional 300 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Hess Midstream Partners by 14.1% in the 3rd 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, Parkside Financial Bank & Trust lifted its position in Hess Midstream Partners by 40.3% in the second quarter. Parkside Financial Bank & Trust now owns 3,180 shares of the company’s stock valued at $122,000 after purchasing an additional 913 shares during the last quarter. 98.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports 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. Zacks Research cut shares of Hess Midstream Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Hess Midstream Partners in a report on Monday, December 29th. Finally, Raymond James Financial cut shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Seven investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $40.57.

Hess Midstream Partners Stock Up 0.4%

Shares of NYSE HESM opened at $38.05 on Tuesday. The firm has a fifty day simple moving average of $35.15 and a two-hundred day simple moving average of $35.70. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $44.14. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 8.83. The firm has a market capitalization of $7.90 billion, a PE ratio of 13.30 and a beta of 0.62.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 73.17%. The company had revenue of $374.50 million for the quarter, compared to analysts’ expectations of $419.16 million. During the same quarter in the previous year, the company earned $0.68 earnings per share. 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 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Thursday, February 5th were given a $0.7641 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $3.06 annualized dividend and a dividend yield of 8.0%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.75. Hess Midstream Partners’s dividend payout ratio is currently 106.99%.

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.