Eagle Global Advisors LLC Sells 578,348 Shares of Hess Midstream Partners LP $HESM

Eagle Global Advisors LLC trimmed its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 23.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,875,486 shares of the company’s stock after selling 578,348 shares during the period. Hess Midstream Partners comprises approximately 2.5% of Eagle Global Advisors LLC’s holdings, making the stock its 9th biggest holding. Eagle Global Advisors LLC owned 0.89% of Hess Midstream Partners worth $64,798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HESM. Invesco Ltd. grew its holdings in Hess Midstream Partners by 50.5% during the 2nd quarter. Invesco Ltd. now owns 6,022,208 shares of the company’s stock valued at $231,915,000 after buying an additional 2,020,430 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in shares of Hess Midstream Partners by 0.9% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 2,317,200 shares of the company’s stock valued at $80,059,000 after acquiring an additional 20,000 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Hess Midstream Partners by 92.4% during the second quarter. Westwood Holdings Group Inc. now owns 2,096,560 shares of the company’s stock valued at $80,739,000 after acquiring an additional 1,006,998 shares during the last quarter. Bank of New York Mellon Corp increased its position in Hess Midstream Partners by 51.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,519,185 shares of the company’s stock worth $58,504,000 after purchasing an additional 516,136 shares in the last quarter. Finally, Miller Howard Investments Inc. NY raised its stake in Hess Midstream Partners by 18.4% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 1,507,121 shares of the company’s stock valued at $52,071,000 after purchasing an additional 234,627 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Wells Fargo & Company downgraded shares of Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research note on Friday, September 19th. The Goldman Sachs Group initiated coverage on shares of Hess Midstream Partners in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $36.00 target price for the company. Zacks Research upgraded Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, Citigroup decreased their price objective on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Hess Midstream Partners currently has an average rating of “Reduce” and an average price target of $40.57.

Hess Midstream Partners Stock Performance

Shares of HESM stock opened at $34.90 on Thursday. The company has a debt-to-equity ratio of 8.83, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 12.37 and a beta of 0.61. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $44.14. The company has a 50 day moving average price of $33.81 and a 200 day moving average price of $36.48.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. The company had revenue of $420.90 million for the quarter, compared to analyst estimates of $424.36 million. Hess Midstream Partners had a net margin of 20.46% and a return on equity of 69.03%. Hess Midstream Partners’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. Sell-side analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, November 6th were given a dividend of $0.7548 per share. This represents a $3.02 dividend on an annualized basis and a yield of 8.7%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Thursday, November 6th. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 106.74%.

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.