Franklin Square Holdings L.P. lifted its stake in Hess Midstream Partners LP (NYSE:HESM) by 24.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,675 shares of the company’s stock after buying an additional 6,985 shares during the period. Hess Midstream Partners makes up approximately 0.8% of Franklin Square Holdings L.P.’s investment portfolio, making the stock its 23rd biggest position. Franklin Square Holdings L.P. owned about 0.13% of Hess Midstream Partners worth $703,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC boosted its stake in shares of Hess Midstream Partners by 150.3% in the second quarter. Acadian Asset Management LLC now owns 88,903 shares of the company’s stock valued at $1,752,000 after buying an additional 53,387 shares during the period. Penbrook Management LLC bought a new stake in shares of Hess Midstream Partners in the second quarter valued at approximately $404,000. Citigroup Inc. boosted its stake in shares of Hess Midstream Partners by 47.3% in the first quarter. Citigroup Inc. now owns 88,725 shares of the company’s stock valued at $1,690,000 after buying an additional 28,500 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Hess Midstream Partners by 15.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 373,700 shares of the company’s stock valued at $7,115,000 after buying an additional 49,600 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Hess Midstream Partners in the second quarter valued at approximately $745,000. Institutional investors and hedge funds own 51.29% of the company’s stock.
Several equities research analysts recently issued reports on the company. Zacks Investment Research cut Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. TheStreet upgraded Hess Midstream Partners from a “d+” rating to a “c” rating in a research note on Tuesday, September 11th. Finally, Morgan Stanley boosted their price target on Hess Midstream Partners from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $26.75.
Shares of HESM stock opened at $22.34 on Monday. The company has a market capitalization of $614.73 million, a P/E ratio of 19.58, a P/E/G ratio of 1.37 and a beta of 1.99. Hess Midstream Partners LP has a 1 year low of $18.32 and a 1 year high of $24.51.
Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Wednesday, July 25th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. Hess Midstream Partners had a net margin of 10.34% and a return on equity of 2.48%. The business had revenue of $164.70 million during the quarter, compared to the consensus estimate of $159.10 million. research analysts predict that Hess Midstream Partners LP will post 1.27 EPS for the current year.
Hess Midstream Partners Profile
Hess Midstream Partners LP owns, operates, develops, and acquires midstream assets to provide 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 include natural gas and crude oil gathering and compression systems located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.
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