Quantbot Technologies LP Sells 114,837 Shares of Hess Midstream Partners LP $HESM

Quantbot Technologies LP cut its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 78.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,642 shares of the company’s stock after selling 114,837 shares during the quarter. Quantbot Technologies LP’s holdings in Hess Midstream Partners were worth $1,190,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Grove Bank & Trust purchased a new stake in shares of Hess Midstream Partners in the 2nd quarter valued at $38,000. Caitong International Asset Management Co. Ltd purchased a new position in Hess Midstream Partners in the 4th quarter worth $44,000. IFP Advisors Inc lifted its stake in Hess Midstream Partners by 70.0% in the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock worth $49,000 after purchasing an additional 582 shares during the last quarter. CENTRAL TRUST Co boosted its position in Hess Midstream Partners by 124.4% during the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock valued at $84,000 after buying an additional 1,200 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after buying an additional 300 shares during the period. 98.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. Morgan Stanley restated an “underweight” rating and set a $39.00 target price on shares of Hess Midstream Partners in a report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $37.67.

Hess Midstream Partners Trading Up 0.2%

NYSE:HESM opened at $39.08 on Wednesday. The company has a fifty day moving average of $39.24 and a 200 day moving average of $38.78. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $41.75. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The firm has a market capitalization of $8.06 billion, a P/E ratio of 13.48 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The business had revenue of $399.00 million for the quarter, compared to analyst estimates of $395.96 million. During the same quarter last year, the firm earned $0.74 EPS. The company’s revenue was down 3.7% on a year-over-year basis. On average, research analysts predict that Hess Midstream Partners LP will post 2.94 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, August 6th were issued a dividend of $0.7888 per share. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date was Thursday, August 6th. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 108.97%.

Hess Midstream Partners Company 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.