BROOKFIELD Corp ON Has $28.02 Million Holdings in Hess Midstream Partners LP $HESM

BROOKFIELD Corp ON decreased its holdings in Hess Midstream Partners LP (NYSE:HESM) by 25.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 720,858 shares of the company’s stock after selling 252,431 shares during the quarter. BROOKFIELD Corp ON’s holdings in Hess Midstream Partners were worth $28,020,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Lazard Asset Management LLC boosted its stake in shares of Hess Midstream Partners by 1,110.7% during the 1st quarter. Lazard Asset Management LLC now owns 1,069,244 shares of the company’s stock worth $41,562,000 after acquiring an additional 980,929 shares during the period. OMERS ADMINISTRATION Corp increased its holdings in shares of Hess Midstream Partners by 11.0% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 27,202 shares of the company’s stock worth $1,057,000 after acquiring an additional 2,700 shares during the last quarter. Entropy Technologies LP bought a new stake in Hess Midstream Partners in the 1st quarter valued at $333,000. Arrowstreet Capital Limited Partnership bought a new stake in Hess Midstream Partners in the 1st quarter valued at $6,756,000. Finally, First Trust Advisors LP lifted its holdings in Hess Midstream Partners by 34.9% during the 1st quarter. First Trust Advisors LP now owns 959,321 shares of the company’s stock valued at $37,289,000 after purchasing an additional 247,973 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. 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 report on Monday, April 20th. Morgan Stanley reissued an “underweight” rating and issued a $39.00 price objective on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $38.86.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $40.67 on Monday. The firm has a market cap of $8.38 billion, a P/E ratio of 14.07 and a beta of 0.53. The business’s 50 day moving average is $38.77 and its 200-day moving average is $37.98. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97. Hess Midstream Partners LP has a 1-year low of $31.63 and a 1-year high of $44.14.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Monday, May 4th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The business had revenue of $390.10 million during the quarter, compared to the consensus estimate of $389.51 million. During the same period in the previous year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that Hess Midstream Partners LP will post 2.87 earnings per share for the current year.

About Hess Midstream Partners

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.