Hess Midstream Partners LP $HESM is Infrastructure Capital Advisors LLC’s 7th Largest Position

Infrastructure Capital Advisors LLC reduced its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,381,016 shares of the company’s stock after selling 23,422 shares during the period. Hess Midstream Partners accounts for about 4.6% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Infrastructure Capital Advisors LLC’s holdings in Hess Midstream Partners were worth $47,645,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HESM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Hess Midstream Partners during the 3rd quarter valued at about $187,691,000. Adage Capital Partners GP L.L.C. purchased a new position in Hess Midstream Partners during the 4th quarter valued at about $92,288,000. CIBC Bancorp USA Inc. purchased a new position in Hess Midstream Partners during the 3rd quarter valued at about $58,480,000. JPMorgan Chase & Co. lifted its position in Hess Midstream Partners by 179.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,269,146 shares of the company’s stock valued at $78,399,000 after acquiring an additional 1,456,627 shares during the period. Finally, Alps Advisors Inc. lifted its position in Hess Midstream Partners by 3.4% during the 4th quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock valued at $1,045,457,000 after acquiring an additional 1,007,846 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HESM shares. Weiss Ratings raised shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Wells Fargo & Company lifted their price target on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Zacks Research raised shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. The Goldman Sachs Group cut shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target for the company. in a research report on Monday, April 20th. Finally, Morgan Stanley lowered shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective for the company. in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $38.71.

Hess Midstream Partners Stock Down 1.4%

NYSE:HESM opened at $36.64 on Thursday. The firm has a market cap of $7.55 billion, a P/E ratio of 12.68 and a beta of 0.52. The company has a debt-to-equity ratio of 9.97, a quick ratio of 0.92 and a current ratio of 0.92. Hess Midstream Partners LP has a fifty-two week low of $31.63 and a fifty-two week high of $44.14. The firm has a 50-day simple moving average of $38.60 and a two-hundred day simple moving average of $37.13.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The business had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. Hess Midstream Partners’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. Analysts predict that Hess Midstream Partners LP will post 2.99 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were paid a dividend of $0.7792 per share. The ex-dividend date was Thursday, May 7th. This represents a $3.12 dividend on an annualized basis and a yield of 8.5%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s dividend payout ratio (DPR) is 107.96%.

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.