Hess Midstream Partners LP $HESM Shares Sold by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC cut its holdings in Hess Midstream Partners LP (NYSE:HESM) by 9.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 604,561 shares of the company’s stock after selling 64,178 shares during the quarter. Hess Midstream Partners accounts for 1.3% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 17th largest position. Infrastructure Capital Advisors LLC’s holdings in Hess Midstream Partners were worth $22,731,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Grove Bank & Trust purchased a new position in shares of Hess Midstream Partners during the 2nd quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in Hess Midstream Partners in the 4th quarter valued at $44,000. IFP Advisors Inc increased its holdings in Hess Midstream Partners by 70.0% in the 4th 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 increased its holdings in Hess Midstream Partners by 124.4% in the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Hess Midstream Partners by 14.3% during 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 period. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $39.13 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The firm has a 50-day simple moving average of $39.17 and a 200-day simple moving average of $38.73. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $41.80. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 13.49 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The company had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $395.96 million. During the same period in the prior year, the business earned $0.74 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities analysts predict that Hess Midstream Partners LP will post 2.94 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, August 6th were paid a $0.7888 dividend. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $3.16 annualized dividend and a dividend yield of 8.1%. Hess Midstream Partners’s dividend payout ratio is currently 108.62%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley reaffirmed an “underweight” rating and set a $39.00 price objective on shares of Hess Midstream Partners in a report on Tuesday, July 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $37.67.

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.