Westover Capital Advisors LLC Reduces Stake in Hess Midstream Partners LP $HESM

Westover Capital Advisors LLC trimmed its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,430 shares of the company’s stock after selling 3,342 shares during the period. Westover Capital Advisors LLC’s holdings in Hess Midstream Partners were worth $3,097,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Eagle Global Advisors LLC raised its position in shares of Hess Midstream Partners by 53.7% in the second quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company’s stock worth $94,497,000 after acquiring an additional 857,669 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in Hess Midstream Partners during the second quarter worth about $30,735,000. Allianz Asset Management GmbH acquired a new stake in shares of Hess Midstream Partners during the 1st quarter worth approximately $29,640,000. Goldman Sachs Group Inc. increased its stake in Hess Midstream Partners by 10.0% during the first quarter. Goldman Sachs Group Inc. now owns 7,233,773 shares of the company’s stock worth $305,916,000 after acquiring an additional 655,062 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Hess Midstream Partners by 51.5% during the second quarter. Bank of New York Mellon Corp now owns 1,519,185 shares of the company’s stock worth $58,504,000 after acquiring an additional 516,136 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Trading Down 2.4%

NYSE:HESM opened at $32.56 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 8.83. The company has a market capitalization of $6.76 billion, a PE ratio of 11.54 and a beta of 0.62. The stock has a fifty day simple moving average of $34.67 and a 200-day simple moving average of $37.76. Hess Midstream Partners LP has a 52-week low of $31.63 and a 52-week high of $44.14.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.02. The company had revenue of $420.90 million during the quarter, compared to the consensus estimate of $424.36 million. Hess Midstream Partners had a return on equity of 69.03% and a net margin of 20.46%.Hess Midstream Partners’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. On average, equities research analysts expect that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, November 6th were issued a $0.7548 dividend. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.74. The ex-dividend date was Thursday, November 6th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 9.3%. Hess Midstream Partners’s dividend payout ratio (DPR) is 107.09%.

Analyst Ratings Changes

A number of brokerages recently commented on HESM. Zacks Research cut Hess Midstream Partners from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 20th. Raymond James Financial reaffirmed an “outperform” rating and set a $35.00 price objective (down from $48.00) on shares of Hess Midstream Partners in a research report on Friday, October 24th. Citigroup dropped their target price on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. Wells Fargo & Company cut Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research note on Friday, September 19th. Finally, Morgan Stanley assumed coverage on Hess Midstream Partners in a research report on Friday, July 25th. They set an “equal weight” rating and a $48.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.57.

About Hess Midstream Partners

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based 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 owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.