Citigroup Inc. Has $7.90 Million Position in Hess Midstream Partners LP $HESM

Citigroup Inc. boosted its stake in shares of Hess Midstream Partners LP (NYSE:HESM) by 449.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,779 shares of the company’s stock after acquiring an additional 187,179 shares during the period. Citigroup Inc. owned 0.11% of Hess Midstream Partners worth $7,904,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Marquette Asset Management LLC bought a new position in shares of Hess Midstream Partners in the third quarter worth $30,000. CENTRAL TRUST Co grew its stake in Hess Midstream Partners by 34.9% during the second quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock worth $59,000 after buying an additional 400 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after buying an additional 300 shares during the period. Farther Finance Advisors LLC increased its holdings 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 valued at $93,000 after buying an additional 333 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Hess Midstream Partners by 40.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,180 shares of the company’s stock valued at $122,000 after buying an additional 913 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HESM. Wall Street Zen lowered shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Raymond James Financial cut Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Hess Midstream Partners in a research note on Monday, December 29th. Finally, Zacks Research cut Hess Midstream Partners from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Seven research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $40.57.

Hess Midstream Partners Trading Up 0.2%

Shares of HESM stock opened at $38.70 on Monday. Hess Midstream Partners LP has a twelve month low of $31.63 and a twelve month high of $44.14. The stock’s fifty day simple moving average is $35.49 and its 200 day simple moving average is $35.61. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.54. The firm has a market capitalization of $8.04 billion, a P/E ratio of 13.53 and a beta of 0.60.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, February 2nd. The company reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. The firm had revenue of $374.50 million for the quarter, compared to analyst estimates of $419.16 million. Hess Midstream Partners had a return on equity of 74.89% and a net margin of 21.77%.The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. As a group, sell-side analysts predict that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Thursday, February 5th were issued a dividend of $0.7641 per share. This represents a $3.06 dividend on an annualized basis and a yield of 7.9%. 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. 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.