Hess Midstream Partners LP (NYSE:HESM) Short Interest Up 22.4% in May

Hess Midstream Partners LP (NYSE:HESM) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 76,000 shares, a growth of 22.4% from the April 30th total of 62,100 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average trading volume of 75,800 shares, the short-interest ratio is currently 1.0 days.

HESM has been the subject of several analyst reports. Zacks Investment Research raised shares of Hess Midstream Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 2nd. Wells Fargo & Co reaffirmed a “market perform” rating and set a $24.00 price target (down previously from $27.00) on shares of Hess Midstream Partners in a research note on Tuesday, March 19th. JPMorgan Chase & Co. downgraded shares of Hess Midstream Partners from an “overweight” rating to a “neutral” rating and set a $27.00 price target for the company. in a research note on Tuesday, March 12th. Finally, Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of Hess Midstream Partners in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.33.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its stake in Hess Midstream Partners by 7.7% during the first quarter. FMR LLC now owns 1,820,423 shares of the company’s stock worth $38,593,000 after buying an additional 129,407 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Hess Midstream Partners by 38.5% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 988,404 shares of the company’s stock worth $16,772,000 after buying an additional 274,810 shares during the last quarter. Duff & Phelps Investment Management Co. raised its stake in Hess Midstream Partners by 1.1% during the first quarter. Duff & Phelps Investment Management Co. now owns 225,431 shares of the company’s stock worth $4,779,000 after buying an additional 2,370 shares during the last quarter. Acadian Asset Management LLC raised its stake in Hess Midstream Partners by 20.7% during the first quarter. Acadian Asset Management LLC now owns 175,451 shares of the company’s stock worth $3,719,000 after buying an additional 30,145 shares during the last quarter. Finally, Citigroup Inc. raised its stake in Hess Midstream Partners by 77.4% during the fourth quarter. Citigroup Inc. now owns 88,462 shares of the company’s stock worth $1,502,000 after buying an additional 38,597 shares during the last quarter. 48.27% of the stock is owned by institutional investors and hedge funds.

Shares of HESM stock traded up $0.17 during trading hours on Thursday, hitting $19.06. 5,162 shares of the company’s stock traded hands, compared to its average volume of 148,923. The company has a market capitalization of $516.01 million, a P/E ratio of 14.99, a PEG ratio of 1.22 and a beta of 1.58. Hess Midstream Partners has a 12 month low of $16.17 and a 12 month high of $24.51.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.01). The business had revenue of $174.20 million for the quarter, compared to the consensus estimate of $172.85 million. Hess Midstream Partners had a net margin of 10.43% and a return on equity of 2.62%. As a group, sell-side analysts expect that Hess Midstream Partners will post 1.41 earnings per share for the current year.

About Hess Midstream Partners

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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