Hess Midstream Partners LP $HESM Shares Sold by Empowered Funds LLC

Empowered Funds LLC cut its stake in Hess Midstream Partners LP (NYSE:HESM) by 28.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 49,211 shares of the company’s stock after selling 19,778 shares during the period. Empowered Funds LLC’s holdings in Hess Midstream Partners were worth $1,850,000 at the end of the most recent reporting period.

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

Hess Midstream Partners Trading Down 0.4%

Hess Midstream Partners stock opened at $39.85 on Friday. The company has a debt-to-equity ratio of 9.39, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 13.74 and a beta of 0.52. Hess Midstream Partners LP has a 1 year low of $31.63 and a 1 year high of $41.50. The firm’s 50 day moving average price is $39.62 and its two-hundred day moving average price is $38.98.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The company had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $395.96 million. During the same quarter in the prior year, the company earned $0.74 earnings per share. The firm’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 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, August 6th were given a dividend of $0.7888 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.9%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, August 6th. Hess Midstream Partners’s payout ratio is presently 108.97%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HESM. Morgan Stanley reissued an “underweight” rating and issued a $39.00 price objective on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Hess Midstream Partners currently has a consensus rating of “Reduce” and a consensus price target of $37.67.

About Hess Midstream Partners

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.