Pacer Advisors Inc. Lowers Stock Holdings in Hess Midstream Partners LP $HESM

Pacer Advisors Inc. reduced its stake in Hess Midstream Partners LP (NYSE:HESM) by 31.0% during the first quarter, HoldingsChannel.com reports. The firm owned 39,292 shares of the company’s stock after selling 17,676 shares during the quarter. Pacer Advisors Inc.’s holdings in Hess Midstream Partners were worth $1,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HESM. Caitong International Asset Management Co. Ltd bought a new position in Hess Midstream Partners during the 4th quarter valued at approximately $44,000. IFP Advisors Inc boosted its holdings 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 acquiring an additional 582 shares in the last quarter. CENTRAL TRUST Co grew its stake in shares of Hess Midstream Partners by 124.4% in the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after acquiring an additional 1,200 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after acquiring an additional 300 shares during the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Hess Midstream Partners during the fourth quarter valued at $96,000. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Analyst Ratings Changes

HESM has been the subject of several recent analyst reports. The Goldman Sachs Group lowered Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target for the company. in a research report on Monday, April 20th. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. Finally, Morgan Stanley restated an “underweight” rating and issued a $39.00 price target on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $38.86.

Hess Midstream Partners Price Performance

NYSE HESM opened at $39.87 on Friday. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 13.75 and a beta of 0.52. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $42.22. The company’s 50 day moving average is $38.90 and its two-hundred day moving average is $38.38. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $399.00 million during the quarter, compared to analyst estimates of $395.96 million. Hess Midstream Partners had a return on equity of 90.78% and a net margin of 23.23%.The firm’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 earnings per share. As a group, research analysts anticipate that Hess Midstream Partners LP will post 2.9 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.7888 per share. The ex-dividend date is Thursday, August 6th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.9%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. Hess Midstream Partners’s dividend payout ratio is currently 108.62%.

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.