Kercheville Advisors LLC Trims Stock Position in Hess Midstream Partners LP $HESM

Kercheville Advisors LLC cut its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,383 shares of the company’s stock after selling 5,386 shares during the period. Hess Midstream Partners makes up 2.6% of Kercheville Advisors LLC’s holdings, making the stock its 14th biggest holding. Kercheville Advisors LLC owned 0.09% of Hess Midstream Partners worth $7,447,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Hess Midstream Partners during the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hess Midstream Partners during the first quarter valued at about $31,000. Farther Finance Advisors LLC increased its position in shares of Hess Midstream Partners by 840.2% during the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock valued at $45,000 after acquiring an additional 941 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Hess Midstream Partners during the second quarter valued at about $50,000. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of Hess Midstream Partners during the first quarter valued at about $58,000. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hess Midstream Partners

In related news, COO John A. Gatling sold 62,457 shares of Hess Midstream Partners stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total value of $2,597,586.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hess Midstream Partners Stock Up 0.2%

Shares of Hess Midstream Partners stock opened at $34.40 on Friday. Hess Midstream Partners LP has a 52-week low of $33.59 and a 52-week high of $44.14. The company has a 50 day moving average of $39.71 and a 200 day moving average of $38.97. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. The company has a market capitalization of $7.23 billion, a P/E ratio of 12.74 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The company had revenue of $414.20 million during the quarter, compared to the consensus estimate of $405.08 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, research analysts forecast that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were paid a $0.737 dividend. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.71. This represents a $2.95 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date was Thursday, August 7th. Hess Midstream Partners’s payout ratio is presently 109.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HESM shares. Morgan Stanley started coverage on shares of Hess Midstream Partners in a research report on Friday, July 25th. They set an “equal weight” rating and a $48.00 price target for the company. UBS Group reiterated a “neutral” rating and set a $43.00 price target (down from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday, September 10th. JPMorgan Chase & Co. lifted their price target on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. The Goldman Sachs Group initiated coverage on shares of Hess Midstream Partners in a research report on Tuesday, September 30th. They set a “neutral” rating and a $36.00 price target for the company. Finally, Zacks Research upgraded shares of Hess Midstream Partners from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hess Midstream Partners has an average rating of “Hold” and a consensus target price of $42.00.

About Hess Midstream Partners

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.