Hess Midstream Partners LP (NYSE:HESM) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 104,100 shares, a growth of 47.7% from the May 30th total of 70,500 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 133,800 shares, the days-to-cover ratio is currently 0.8 days.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Duff & Phelps Investment Management Co. grew its stake in Hess Midstream Partners by 1.1% during the 1st quarter. Duff & Phelps Investment Management Co. now owns 225,431 shares of the company’s stock worth $4,779,000 after purchasing an additional 2,370 shares in the last quarter. Chiron Investment Management LLC grew its stake in Hess Midstream Partners by 27.3% during the 4th quarter. Chiron Investment Management LLC now owns 11,177 shares of the company’s stock worth $190,000 after purchasing an additional 2,400 shares in the last quarter. Virtu Financial LLC grew its stake in Hess Midstream Partners by 29.7% during the 1st quarter. Virtu Financial LLC now owns 13,978 shares of the company’s stock worth $296,000 after purchasing an additional 3,202 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Hess Midstream Partners by 53,057.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,721 shares of the company’s stock worth $79,000 after purchasing an additional 3,714 shares in the last quarter. Finally, American Financial Group Inc. grew its stake in Hess Midstream Partners by 28.6% during the 1st quarter. American Financial Group Inc. now owns 18,000 shares of the company’s stock worth $382,000 after purchasing an additional 4,000 shares in the last quarter. 48.27% of the stock is owned by hedge funds and other institutional investors.
HESM has been the subject of a number of research reports. Zacks Investment Research cut Essential Properties Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of Hess Midstream Partners in a research note on Thursday, April 25th. Finally, Wells Fargo & Co set a $162.00 price objective on Jazz Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $25.33.
Hess Midstream Partners (NYSE:HESM) last released its earnings results on Thursday, April 25th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.01). Hess Midstream Partners had a return on equity of 2.62% and a net margin of 10.43%. The company had revenue of $174.20 million for the quarter, compared to analyst estimates of $172.85 million. As a group, equities research analysts predict that Hess Midstream Partners will post 1.41 earnings per share for the current year.
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 is involved in the natural gas and crude oil gathering and compression activities located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.
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