Stokes Capital Advisors LLC Sells 24,100 Shares of Hess Midstream Partners LP $HESM

Stokes Capital Advisors LLC cut its holdings in Hess Midstream Partners LP (NYSE:HESM) by 15.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,662 shares of the company’s stock after selling 24,100 shares during the period. Stokes Capital Advisors LLC owned 0.06% of Hess Midstream Partners worth $4,583,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of HESM. Invesco Ltd. lifted its position in shares of Hess Midstream Partners by 50.5% during the second quarter. Invesco Ltd. now owns 6,022,208 shares of the company’s stock worth $231,915,000 after acquiring an additional 2,020,430 shares in the last quarter. Westwood Holdings Group Inc. grew its position in shares of Hess Midstream Partners by 92.4% in the second quarter. Westwood Holdings Group Inc. now owns 2,096,560 shares of the company’s stock valued at $80,739,000 after purchasing an additional 1,006,998 shares in the last quarter. Eagle Global Advisors LLC raised its stake in shares of Hess Midstream Partners by 53.7% during the 2nd quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company’s stock valued at $94,497,000 after purchasing an additional 857,669 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of Hess Midstream Partners during the 2nd quarter valued at $30,735,000. Finally, Balyasny Asset Management L.P. lifted its holdings in Hess Midstream Partners by 179.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,209,075 shares of the company’s stock worth $46,561,000 after purchasing an additional 776,924 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HESM has been the topic of several analyst reports. Zacks Research upgraded Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Wall Street Zen downgraded shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. UBS Group reaffirmed a “neutral” rating and issued a $43.00 price target (down previously from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. Citigroup dropped their price objective on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hess Midstream Partners in a report on Monday, December 8th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.57.

Hess Midstream Partners Trading Down 1.3%

HESM stock opened at $33.93 on Friday. The company has a market capitalization of $7.05 billion, a PE ratio of 12.03 and a beta of 0.62. The company has a debt-to-equity ratio of 8.83, a quick ratio of 0.75 and a current ratio of 0.75. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $44.14. The company’s 50 day moving average price is $33.49 and its two-hundred day moving average price is $37.07.

Hess Midstream Partners (NYSE:HESM) last posted 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. Hess Midstream Partners had a net margin of 20.46% and a return on equity of 69.03%. The business had revenue of $420.90 million during the quarter, compared to the consensus estimate of $424.36 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts predict 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 paid a $0.7548 dividend. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $3.02 dividend on an annualized basis and a yield of 8.9%. Hess Midstream Partners’s payout ratio is presently 107.09%.

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.