Infrastructure Capital Advisors LLC Cuts Stake in Hess Midstream Partners LP $HESM

Infrastructure Capital Advisors LLC lessened its position in Hess Midstream Partners LP (NYSE:HESM) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,381,016 shares of the company’s stock after selling 23,422 shares during the period. Hess Midstream Partners accounts for 4.6% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 7th biggest position. Infrastructure Capital Advisors LLC owned approximately 0.67% of Hess Midstream Partners worth $47,645,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HESM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Hess Midstream Partners in the 3rd quarter worth $187,691,000. Adage Capital Partners GP L.L.C. bought a new stake in Hess Midstream Partners in the 4th quarter worth $92,288,000. CIBC Bancorp USA Inc. bought a new stake in Hess Midstream Partners in the 3rd quarter worth $58,480,000. JPMorgan Chase & Co. grew its holdings in Hess Midstream Partners by 179.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,269,146 shares of the company’s stock worth $78,399,000 after acquiring an additional 1,456,627 shares during the last quarter. Finally, Alps Advisors Inc. grew its holdings in Hess Midstream Partners by 3.4% in the 4th quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock worth $1,045,457,000 after acquiring an additional 1,007,846 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Trading Down 1.4%

NYSE:HESM opened at $36.64 on Thursday. The company has a 50-day moving average price of $38.60 and a 200-day moving average price of $37.13. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $44.14. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 12.68 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM) last posted its earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The firm had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $389.51 million. During the same period last year, the company posted $0.65 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Hess Midstream Partners LP will post 2.99 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were given a $0.7792 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $3.12 annualized dividend and a dividend yield of 8.5%. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s dividend payout ratio is 107.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HESM shares. The Goldman Sachs Group lowered shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target on the stock. in a report on Monday, April 20th. Zacks Research raised shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Wells Fargo & Company raised their price target on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Weiss Ratings raised shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, Morgan Stanley cut shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 target price for the company. in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Hess Midstream Partners currently has an average rating of “Reduce” and a consensus price target of $38.71.

Hess Midstream Partners Profile

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.