Hess Midstream Partners LP $HESM Position Decreased by Spirit of America Management Corp NY

Spirit of America Management Corp NY lowered its holdings in Hess Midstream Partners LP (NYSE:HESM) by 17.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 113,837 shares of the company’s stock after selling 24,000 shares during the quarter. Spirit of America Management Corp NY’s holdings in Hess Midstream Partners were worth $3,927,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alps Advisors Inc. boosted its holdings in Hess Midstream Partners by 1.2% during the third quarter. Alps Advisors Inc. now owns 29,295,245 shares of the company’s stock worth $1,012,151,000 after buying an additional 338,729 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Hess Midstream Partners by 50.5% in the second quarter. Invesco Ltd. now owns 6,022,208 shares of the company’s stock valued at $231,915,000 after buying an additional 2,020,430 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Hess Midstream Partners in the third quarter valued at $187,691,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Hess Midstream Partners by 0.9% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 2,317,200 shares of the company’s stock valued at $80,059,000 after acquiring an additional 20,000 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Hess Midstream Partners by 179.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,269,146 shares of the company’s stock worth $78,399,000 after acquiring an additional 1,456,627 shares in the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HESM shares. Wells Fargo & Company lifted their target price 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 upgraded Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Raymond James Financial lowered Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Finally, Weiss Ratings upgraded Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Hess Midstream Partners has a consensus rating of “Hold” and a consensus price target of $40.71.

Hess Midstream Partners Trading Down 0.8%

Hess Midstream Partners stock opened at $39.48 on Tuesday. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $44.14. 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 firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 13.80 and a beta of 0.60. The company has a 50 day moving average price of $37.65 and a 200 day moving average price of $35.38.

Hess Midstream Partners (NYSE:HESM) last announced its 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. The company had revenue of $374.50 million for the quarter, compared to the consensus estimate of $419.16 million. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. Research analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Thursday, February 5th were given a dividend of $0.7641 per share. 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. This represents a $3.06 annualized dividend and a yield of 7.7%. Hess Midstream Partners’s payout ratio is presently 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.