Quantbot Technologies LP Sells 114,837 Shares of Hess Midstream Partners LP $HESM

Quantbot Technologies LP decreased its holdings in Hess Midstream Partners LP (NYSE:HESM) by 78.4% in the second quarter, HoldingsChannel.com reports. The fund owned 31,642 shares of the company’s stock after selling 114,837 shares during the period. Quantbot Technologies LP’s holdings in Hess Midstream Partners were worth $1,190,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of Hess Midstream Partners by 33.7% in the 1st quarter. Royal Bank of Canada now owns 129,902 shares of the company’s stock worth $5,494,000 after purchasing an additional 32,740 shares during the period. NewEdge Advisors LLC purchased a new position in shares of Hess Midstream Partners during the first quarter valued at about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Hess Midstream Partners by 20.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,741 shares of the company’s stock worth $9,504,000 after buying an additional 37,794 shares in the last quarter. Geode Capital Management LLC raised its stake in Hess Midstream Partners by 21.6% in the second quarter. Geode Capital Management LLC now owns 5,778 shares of the company’s stock worth $223,000 after buying an additional 1,026 shares in the last quarter. Finally, Creative Planning lifted its holdings in Hess Midstream Partners by 10.6% in the second quarter. Creative Planning now owns 8,596 shares of the company’s stock worth $331,000 after buying an additional 826 shares during the period. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Up 0.2%

NYSE:HESM opened at $39.08 on Wednesday. The firm’s 50-day moving average price is $39.24 and its 200-day moving average price is $38.78. The company has a market capitalization of $8.06 billion, a PE ratio of 13.48 and a beta of 0.52. 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 LP has a 1-year low of $31.63 and a 1-year high of $41.75.

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

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.7888 per share. 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 dividend yield of 8.1%. The ex-dividend date of this dividend was Thursday, August 6th. Hess Midstream Partners’s payout ratio is 108.97%.

Analyst Ratings Changes

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

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.