Infrastructure Capital Advisors LLC Sells 712,277 Shares of Hess Midstream Partners LP $HESM

Infrastructure Capital Advisors LLC cut its position in Hess Midstream Partners LP (NYSE:HESMFree Report) by 51.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 668,739 shares of the company’s stock after selling 712,277 shares during the quarter. Hess Midstream Partners accounts for about 1.8% of Infrastructure Capital Advisors LLC’s portfolio, making the stock its 13th largest holding. Infrastructure Capital Advisors LLC’s holdings in Hess Midstream Partners were worth $25,994,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC lifted its holdings in shares of Hess Midstream Partners by 1,110.7% during the 1st quarter. Lazard Asset Management LLC now owns 1,069,244 shares of the company’s stock worth $41,562,000 after acquiring an additional 980,929 shares during the period. OMERS ADMINISTRATION Corp increased its stake in Hess Midstream Partners by 11.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 27,202 shares of the company’s stock valued at $1,057,000 after acquiring an additional 2,700 shares during the last quarter. Entropy Technologies LP acquired a new position in Hess Midstream Partners during the first quarter valued at approximately $333,000. Arrowstreet Capital Limited Partnership acquired a new position in Hess Midstream Partners during the first quarter valued at approximately $6,756,000. Finally, First Trust Advisors LP raised its position in Hess Midstream Partners by 34.9% during the first quarter. First Trust Advisors LP now owns 959,321 shares of the company’s stock valued at $37,289,000 after purchasing an additional 247,973 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Trading Down 2.2%

Shares of Hess Midstream Partners stock opened at $39.74 on Tuesday. The firm’s 50 day moving average is $38.75 and its 200 day moving average is $38.03. The firm has a market capitalization of $8.19 billion, a PE ratio of 13.75 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 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:HESMGet Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The business had revenue of $390.10 million during the quarter, compared to the consensus estimate of $389.51 million. During the same quarter in the prior year, the firm earned $0.65 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Hess Midstream Partners LP will post 2.87 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.7888 per share. This represents a $3.16 annualized dividend and a dividend yield of 7.9%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date is Thursday, August 6th. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 107.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group downgraded Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price on the stock. in a report on Monday, April 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. Finally, Morgan Stanley restated an “underweight” rating and set a $39.00 price objective on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Hess Midstream Partners currently has an average rating of “Reduce” and a consensus target price of $38.86.

View Our Latest Research Report on HESM

Hess Midstream Partners Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hess Midstream Partners (NYSE:HESM)

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