Venturi Wealth Management LLC Cuts Stake in Hess Midstream Partners LP $HESM

Venturi Wealth Management LLC lowered its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,524 shares of the company’s stock after selling 323 shares during the quarter. Venturi Wealth Management LLC’s holdings in Hess Midstream Partners were worth $559,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HESM. Alps Advisors Inc. grew its position in shares of Hess Midstream Partners by 31.1% during the first quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company’s stock worth $1,114,605,000 after purchasing an additional 6,251,664 shares in the last quarter. Artemis Investment Management LLP grew its holdings in Hess Midstream Partners by 131.4% during the 1st quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company’s stock valued at $83,288,000 after buying an additional 1,118,245 shares in the last quarter. Eagle Global Advisors LLC grew its holdings in Hess Midstream Partners by 53.7% during the 2nd quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company’s stock valued at $94,497,000 after buying an additional 857,669 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Hess Midstream Partners during the 2nd quarter valued at approximately $30,735,000. Finally, Allianz Asset Management GmbH purchased a new position in Hess Midstream Partners during the 1st quarter valued at approximately $29,640,000. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Insider Activity

In related news, COO John A. Gatling sold 62,457 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Hess Midstream Partners Price Performance

NYSE:HESM opened at $32.78 on Friday. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 12.14 and a beta of 0.58. Hess Midstream Partners LP has a 1 year low of $32.76 and a 1 year high of $44.14. The business has a 50 day simple moving average of $39.01 and a 200-day simple moving average of $38.72. The company has a debt-to-equity ratio of 7.26, a current ratio of 0.71 and a quick ratio of 0.71.

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

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were paid a dividend of $0.737 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 9.0%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.71. Hess Midstream Partners’s dividend payout ratio is 108.89%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HESM. UBS Group restated a “neutral” rating and set a $43.00 price target (down previously from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. Citigroup cut their price target on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. Morgan Stanley began coverage on Hess Midstream Partners in a report on Friday, July 25th. They set an “equal weight” rating and a $48.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.00.

Hess Midstream Partners Profile

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.