Hess Midstream Partners LP $HESM Position Cut by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP reduced its holdings in Hess Midstream Partners LP (NYSE:HESM) by 72.8% during the 2nd quarter, Holdings Channel reports. The fund owned 411,563 shares of the company’s stock after selling 1,099,530 shares during the quarter. Hess Midstream Partners comprises 0.3% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 29th largest holding. Kayne Anderson Capital Advisors LP’s holdings in Hess Midstream Partners were worth $15,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in HESM. Grove Bank & Trust acquired a new position in Hess Midstream Partners during the 2nd quarter worth $38,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hess Midstream Partners during the fourth quarter valued at $44,000. IFP Advisors Inc increased its holdings in shares of Hess Midstream Partners by 70.0% during the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after purchasing an additional 582 shares during the period. CENTRAL TRUST Co raised its stake in shares of 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 purchasing an additional 1,200 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of 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 purchasing an additional 300 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Performance

Shares of NYSE HESM opened at $39.17 on Friday. Hess Midstream Partners LP has a 1 year low of $31.63 and a 1 year high of $41.80. The firm has a market cap of $8.08 billion, a P/E ratio of 13.51 and a beta of 0.52. The stock has a fifty day moving average price of $39.15 and a two-hundred day moving average price of $38.70. The company has a debt-to-equity ratio of 9.39, a quick ratio of 0.77 and a current ratio of 0.77.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $399.00 million for the quarter, compared to the consensus estimate of $395.96 million. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. Research analysts forecast that Hess Midstream Partners LP will post 2.94 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, August 6th were issued a dividend of $0.7888 per share. The ex-dividend date of this dividend was Thursday, August 6th. 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 yield of 8.1%. Hess Midstream Partners’s dividend payout ratio is presently 108.62%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $39.00 price objective on shares of Hess Midstream Partners in a report on Tuesday, July 21st. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Hess Midstream Partners currently has an average rating of “Reduce” and an average price target of $38.86.

Hess Midstream Partners 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.