Jennison Associates LLC raised its stake in Hess Midstream Partners LP (NYSE:HESM) by 19.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 237,273 shares of the company’s stock after buying an additional 38,174 shares during the quarter. Jennison Associates LLC’s holdings in Hess Midstream Partners were worth $5,213,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. State of New Jersey Common Pension Fund D increased its holdings in shares of Hess Midstream Partners by 128.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 284,400 shares of the company’s stock valued at $6,248,000 after purchasing an additional 159,900 shares during the last quarter. Spirit of America Management Corp NY grew its stake in shares of Hess Midstream Partners by 46.3% in the third quarter. Spirit of America Management Corp NY now owns 223,338 shares of the company’s stock valued at $4,907,000 after acquiring an additional 70,638 shares in the last quarter. NBW Capital LLC acquired a new position in shares of Hess Midstream Partners in the second quarter valued at about $6,950,000. CNH Partners LLC acquired a new stake in Hess Midstream Partners during the second quarter worth about $346,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Hess Midstream Partners during the second quarter worth about $6,156,000. 57.16% of the stock is currently owned by institutional investors and hedge funds.
HESM has been the topic of a number of analyst reports. BidaskClub downgraded shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Hess Midstream Partners from a “hold” rating to a “strong-buy” rating and set a $23.00 target price for the company in a report on Monday, October 30th. Scotiabank set a $31.00 price objective on shares of Hess Midstream Partners and gave the company a “buy” rating in a report on Monday. Morgan Stanley upgraded shares of Hess Midstream Partners from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $25.00 to $26.00 in a report on Wednesday, August 30th. Finally, Citigroup upgraded shares of Hess Midstream Partners from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $28.00 to $25.00 in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. Hess Midstream Partners presently has a consensus rating of “Buy” and an average price target of $27.83.
Hess Midstream Partners LP (HESM) traded down $0.20 during midday trading on Monday, reaching $21.30. 72,189 shares of the company traded hands, compared to its average volume of 117,183. Hess Midstream Partners LP has a twelve month low of $18.32 and a twelve month high of $26.78.
Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. The business had revenue of $146.70 million for the quarter, compared to analysts’ expectations of $116.27 million. Hess Midstream Partners had a return on equity of 6.64% and a net margin of 28.19%. equities analysts forecast that Hess Midstream Partners LP will post 1.01 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Friday, November 3rd were paid a $0.3107 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date was Thursday, November 2nd.
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About Hess Midstream Partners
Hess Midstream Partners LP is a fee-based, traditional master limited partnership formed to own, operate, develop and acquire a set of midstream assets to provide services to Hess and third-party crude oil and natural gas producers. The Company’s assets are primarily located in the Bakken and Three Forks shale plays in the Williston Basin area of North Dakota (collectively referred as the Bakken).
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