Alberta Investment Management Corp Has $3.42 Million Stake in Hess Midstream Partners LP $HESM

Alberta Investment Management Corp boosted its stake in Hess Midstream Partners LP (NYSE:HESM) by 149.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,700 shares of the company’s stock after acquiring an additional 53,100 shares during the period. Alberta Investment Management Corp’s holdings in Hess Midstream Partners were worth $3,416,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its stake in Hess Midstream Partners by 2.9% during the second quarter. Cetera Investment Advisers now owns 37,842 shares of the company’s stock worth $1,457,000 after acquiring an additional 1,080 shares in the last quarter. Creative Planning raised its holdings in shares of Hess Midstream Partners by 10.6% during the second quarter. Creative Planning now owns 8,596 shares of the company’s stock valued at $331,000 after purchasing an additional 826 shares during the period. SG Americas Securities LLC raised its holdings in shares of Hess Midstream Partners by 1,100.9% during the second quarter. SG Americas Securities LLC now owns 65,555 shares of the company’s stock valued at $2,525,000 after purchasing an additional 60,096 shares during the period. Geode Capital Management LLC boosted its position in shares of Hess Midstream Partners by 21.6% during the 2nd quarter. Geode Capital Management LLC now owns 5,778 shares of the company’s stock worth $223,000 after purchasing an additional 1,026 shares in the last quarter. Finally, CENTRAL TRUST Co grew its stake in shares of Hess Midstream Partners by 34.9% in the 2nd quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock valued at $59,000 after buying an additional 400 shares during the period. Institutional investors own 98.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on HESM shares. The Goldman Sachs Group began coverage on shares of Hess Midstream Partners in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $36.00 price objective on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Hess Midstream Partners in a report on Thursday. Citigroup cut their price target on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. increased their price objective on Hess Midstream Partners from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Finally, Zacks Research lowered Hess Midstream Partners from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.57.

Hess Midstream Partners Price Performance

HESM stock opened at $33.34 on Monday. The firm has a market cap of $6.92 billion, a P/E ratio of 11.82 and a beta of 0.62. The firm’s fifty day moving average is $34.82 and its 200 day moving average is $37.79. The company has a debt-to-equity ratio of 8.83, a quick ratio of 0.75 and a current ratio of 0.75. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $44.14.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.02. The company had revenue of $420.90 million during the quarter, compared to the consensus estimate of $424.36 million. Hess Midstream Partners had a net margin of 20.46% and a return on equity of 69.03%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, November 6th were paid a $0.7548 dividend. The ex-dividend date of this dividend was Thursday, November 6th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.74. This represents a $3.02 annualized dividend and a yield of 9.1%. Hess Midstream Partners’s payout ratio is 107.09%.

Hess Midstream Partners Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.