Infrastructure Capital Advisors LLC reduced its position in shares of Hess Midstream Partners LP (NYSE:HESM – Free Report) by 9.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 604,561 shares of the company’s stock after selling 64,178 shares during the quarter. Hess Midstream Partners accounts for approximately 1.3% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 17th biggest position. Infrastructure Capital Advisors LLC owned about 0.29% of Hess Midstream Partners worth $22,731,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp raised its holdings in shares of Hess Midstream Partners by 8.8% in the second quarter. OMERS ADMINISTRATION Corp now owns 29,602 shares of the company’s stock worth $1,113,000 after buying an additional 2,400 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Hess Midstream Partners by 0.5% during the 2nd quarter. Sanctuary Advisors LLC now owns 82,818 shares of the company’s stock worth $3,114,000 after purchasing an additional 408 shares during the last quarter. Gabelli Funds LLC bought a new stake in Hess Midstream Partners during the second quarter valued at about $564,000. Paralel Advisors LLC purchased a new position in Hess Midstream Partners in the second quarter valued at about $2,232,000. Finally, Abacus FCF Advisors LLC raised its holdings in Hess Midstream Partners by 1.6% in the second quarter. Abacus FCF Advisors LLC now owns 81,071 shares of the company’s stock worth $3,048,000 after purchasing an additional 1,276 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.
Hess Midstream Partners Trading Down 0.0%
Shares of Hess Midstream Partners stock opened at $39.13 on Monday. The stock has a market cap of $8.07 billion, a PE ratio of 13.49 and a beta of 0.52. The firm has a fifty day moving average price of $39.17 and a 200 day moving average price of $38.73. Hess Midstream Partners LP has a 1 year low of $31.63 and a 1 year high of $41.80. The company has a debt-to-equity ratio of 9.39, a current ratio of 0.77 and a quick ratio of 0.77.
Hess Midstream Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, August 6th were issued a $0.7888 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This is a positive change 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 research analysts recently weighed in on the company. Morgan Stanley restated an “underweight” rating and set a $39.00 target price on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Hess Midstream Partners presently has a consensus rating of “Reduce” and an average target price of $37.67.
Get Our Latest Stock Report on HESM
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.
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