Advisors Asset Management Inc. Buys 29,278 Shares of Hess Midstream Partners LP $HESM

Advisors Asset Management Inc. raised its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 28.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 133,013 shares of the company’s stock after purchasing an additional 29,278 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.06% of Hess Midstream Partners worth $4,596,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HESM. Marquette Asset Management LLC bought a new stake in shares of Hess Midstream Partners in the 3rd quarter valued at $30,000. CENTRAL TRUST Co lifted its holdings in Hess Midstream Partners by 34.9% in the second 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. Geneos Wealth Management Inc. boosted its position in Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after acquiring an additional 300 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Hess Midstream Partners by 14.1% during the third quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company’s stock valued at $93,000 after acquiring an additional 333 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Hess Midstream Partners by 40.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,180 shares of the company’s stock worth $122,000 after acquiring an additional 913 shares during the period. Institutional investors own 98.97% of the company’s stock.

Analysts Set New Price Targets

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

Hess Midstream Partners Price Performance

Shares of HESM opened at $36.68 on Friday. The business’s fifty day moving average is $34.81 and its 200 day moving average is $36.00. Hess Midstream Partners LP has a 12-month low of $31.63 and a 12-month high of $44.14. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 8.83. The stock has a market cap of $7.62 billion, a P/E ratio of 12.82 and a beta of 0.62.

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. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 73.17%. The business had revenue of $374.50 million during the quarter, compared to analyst estimates of $419.16 million. During the same quarter in the previous year, the business posted $0.68 EPS. Hess Midstream Partners’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts anticipate that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal 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 $0.7641 dividend. This represents a $3.06 annualized dividend and a yield of 8.3%. 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 106.99%.

Hess Midstream Partners Company 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.