Acadian Asset Management LLC grew its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 53.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,225 shares of the company’s stock after acquiring an additional 47,322 shares during the period. Acadian Asset Management LLC’s holdings in Hess Midstream Partners were worth $3,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in shares of Hess Midstream Partners by 66.3% in the third quarter. Russell Investments Group Ltd. now owns 164,559 shares of the company’s stock worth $3,754,000 after buying an additional 65,583 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Hess Midstream Partners by 83.5% in the second quarter. Advisors Asset Management Inc. now owns 29,255 shares of the company’s stock worth $576,000 after buying an additional 13,315 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Hess Midstream Partners in the second quarter worth $244,000. Franklin Square Holdings L.P. raised its holdings in shares of Hess Midstream Partners by 24.3% in the second quarter. Franklin Square Holdings L.P. now owns 35,675 shares of the company’s stock worth $703,000 after buying an additional 6,985 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Hess Midstream Partners by 28.2% in the second quarter. Renaissance Technologies LLC now owns 176,700 shares of the company’s stock worth $3,481,000 after buying an additional 38,900 shares during the last quarter. 51.45% of the stock is owned by hedge funds and other institutional investors.
HESM has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on shares of Hess Midstream Partners from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, August 17th. Zacks Investment Research cut shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Citigroup raised their price target on shares of Hess Midstream Partners from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, October 16th. Credit Suisse Group initiated coverage on shares of Hess Midstream Partners in a report on Thursday, October 11th. They issued an “outperform” rating and a $29.00 price target for the company. Finally, TheStreet raised shares of Hess Midstream Partners from a “d+” rating to a “c” rating in a report on Tuesday, September 11th. Six investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $26.83.
Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Wednesday, October 31st. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. The firm had revenue of $169.50 million for the quarter, compared to analyst estimates of $169.15 million. Hess Midstream Partners had a net margin of 10.53% and a return on equity of 2.61%. Research analysts forecast that Hess Midstream Partners LP will post 1.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Monday, November 5th will be paid a $0.3575 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $1.43 dividend on an annualized basis and a dividend yield of 6.61%. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.35.
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Hess Midstream Partners Company 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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