Kayne Anderson Capital Advisors LP Sells 72,629 Shares of Hess Midstream Partners LP $HESM

Kayne Anderson Capital Advisors LP lowered its stake in Hess Midstream Partners LP (NYSE:HESM) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,812,481 shares of the company’s stock after selling 72,629 shares during the quarter. Hess Midstream Partners comprises 2.5% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 13th biggest holding. Kayne Anderson Capital Advisors LP owned 1.31% of Hess Midstream Partners worth $108,309,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Hess Midstream Partners during the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Hess Midstream Partners in the 1st quarter worth $31,000. Ameritas Advisory Services LLC bought a new position in shares of Hess Midstream Partners in the 2nd quarter worth $50,000. Farther Finance Advisors LLC raised its position in shares of Hess Midstream Partners by 124.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,363 shares of the company’s stock worth $91,000 after acquiring an additional 1,310 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Hess Midstream Partners by 20.0% during the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company’s stock worth $149,000 after buying an additional 586 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Down 0.4%

HESM opened at $33.79 on Thursday. The company has a market cap of $7.10 billion, a PE ratio of 11.98 and a beta of 0.62. The business has a 50 day moving average price of $35.90 and a two-hundred day moving average price of $38.01. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $44.14. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26.

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 analysts’ consensus estimates of $0.73 by $0.02. The business had revenue of $420.90 million for the quarter, compared to analysts’ expectations of $424.36 million. Hess Midstream Partners had a return on equity of 66.63% and a net margin of 20.46%.The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. As a group, research analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, November 6th will be issued a $0.7548 dividend. The ex-dividend date is Thursday, November 6th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.74. This represents a $3.02 dividend on an annualized basis and a yield of 8.9%. Hess Midstream Partners’s payout ratio is 106.74%.

Insider Buying and Selling

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

Several analysts have weighed in on HESM shares. Zacks Research downgraded Hess Midstream Partners from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 20th. UBS Group reiterated a “neutral” rating and set a $43.00 price target (down previously from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday, September 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, October 8th. Citigroup reduced their target price on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. increased their price target on Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.