Sanctuary Advisors LLC Sells 30,567 Shares of Hess Midstream Partners LP $HESM

Sanctuary Advisors LLC lowered its stake in Hess Midstream Partners LP (NYSE:HESM) by 27.1% during the 1st quarter, HoldingsChannel reports. The firm owned 82,410 shares of the company’s stock after selling 30,567 shares during the period. Sanctuary Advisors LLC’s holdings in Hess Midstream Partners were worth $3,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in HESM. LGT Fund Management Co Ltd. bought a new position in shares of Hess Midstream Partners during the 1st quarter valued at $2,191,000. Fifth Third Bancorp bought a new stake in shares of Hess Midstream Partners in the first quarter worth $133,000. Sequoia Financial Advisors LLC increased its position in Hess Midstream Partners by 8.7% during the first quarter. Sequoia Financial Advisors LLC now owns 8,700 shares of the company’s stock valued at $338,000 after acquiring an additional 699 shares during the last quarter. Seelaus Asset Management LLC purchased a new stake in Hess Midstream Partners during the first quarter valued at $206,000. Finally, Abel Hall LLC bought a new position in Hess Midstream Partners in the first quarter valued at about $389,000. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Trading Down 0.4%

Shares of HESM stock opened at $40.17 on Tuesday. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 13.90 and a beta of 0.53. Hess Midstream Partners LP has a 1 year low of $31.63 and a 1 year high of $44.14. The firm has a fifty day moving average price of $38.67 and a 200-day moving average price of $37.81.

Hess Midstream Partners (NYSE:HESM) last announced its earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $389.51 million. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.Hess Midstream Partners’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. As a group, equities analysts predict that Hess Midstream Partners LP will post 2.9 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were given a $0.7792 dividend. The ex-dividend date was Thursday, May 7th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a yield of 7.8%. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 107.96%.

Analyst Upgrades and Downgrades

HESM has been the topic of several research reports. The Goldman Sachs Group cut Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price on the stock. in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. Finally, Morgan Stanley cut shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective on the stock. in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $38.71.

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.