Hess Midstream Partners LP $HESM Holdings Cut by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH reduced its stake in Hess Midstream Partners LP (NYSE:HESM) by 35.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,201 shares of the company’s stock after selling 18,649 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Hess Midstream Partners were worth $1,329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HESM. Alps Advisors Inc. boosted 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 purchasing an additional 1,007,846 shares during the period. Goldman Sachs Group Inc. increased its position in Hess Midstream Partners by 3.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock worth $313,301,000 after buying an additional 330,802 shares during the period. Invesco Ltd. lifted its stake in Hess Midstream Partners by 10.7% in the fourth quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock valued at $228,385,000 after buying an additional 641,092 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Hess Midstream Partners in the third quarter valued at $187,691,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Hess Midstream Partners during the fourth quarter valued at $92,288,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on HESM. Wells Fargo & Company upped their price target on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Zacks Research upgraded 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 lowered shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price for the company. in a research note on Monday, April 20th. Morgan Stanley cut shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 target price for the company. in a research report on Wednesday, June 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $38.71.

Hess Midstream Partners Stock Performance

Shares of HESM opened at $37.37 on Tuesday. The firm has a 50-day moving average price of $38.40 and a 200 day moving average price of $37.32. The firm has a market capitalization of $7.70 billion, a PE ratio of 12.93 and a beta of 0.52. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97. Hess Midstream Partners LP has a 52-week low of $31.63 and a 52-week high of $44.14.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The firm had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $389.51 million. During the same quarter last year, the company earned $0.65 EPS. Hess Midstream Partners’s quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that Hess Midstream Partners LP will post 2.99 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were paid a dividend of $0.7792 per share. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date was Thursday, May 7th. Hess Midstream Partners’s dividend payout ratio (DPR) is 107.96%.

Hess Midstream Partners Company 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.