Exchange Traded Concepts LLC Boosts Holdings in Hess Midstream Partners LP $HESM

Exchange Traded Concepts LLC grew its stake in Hess Midstream Partners LP (NYSE:HESM) by 34.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,980 shares of the company’s stock after purchasing an additional 45,116 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.09% of Hess Midstream Partners worth $6,106,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of HESM. Alps Advisors Inc. raised its position in shares of Hess Midstream Partners by 1.2% during the 3rd quarter. Alps Advisors Inc. now owns 29,295,245 shares of the company’s stock worth $1,012,151,000 after purchasing an additional 338,729 shares during the last quarter. Invesco Ltd. boosted its holdings in Hess Midstream Partners by 50.5% in the 2nd quarter. Invesco Ltd. now owns 6,022,208 shares of the company’s stock worth $231,915,000 after buying an additional 2,020,430 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Hess Midstream Partners during the 3rd quarter worth approximately $187,691,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in 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 worth $80,059,000 after buying an additional 20,000 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in 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 buying an additional 1,456,627 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Down 0.8%

HESM stock opened at $39.48 on Tuesday. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 13.80 and a beta of 0.60. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.54. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $44.14. The firm has a 50-day moving average of $37.65 and a two-hundred day moving average of $35.38.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Monday, February 2nd. The company reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. The business had revenue of $374.50 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. As a group, analysts forecast that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed 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 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 dividend on an annualized basis and a yield of 7.7%. Hess Midstream Partners’s dividend payout ratio (DPR) is 106.99%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HESM. Zacks Research upgraded Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Weiss Ratings upgraded Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” 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 report on Monday, January 5th. Finally, Wells Fargo & Company lifted their target price on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.71.

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.