Catalyst Capital Advisors LLC Sells 20,030 Shares of Hess Midstream Partners LP $HESM

Catalyst Capital Advisors LLC cut its holdings in Hess Midstream Partners LP (NYSE:HESM) by 12.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,531 shares of the company’s stock after selling 20,030 shares during the period. Catalyst Capital Advisors LLC owned 0.07% of Hess Midstream Partners worth $5,579,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hess Midstream Partners in the fourth quarter worth $44,000. IFP Advisors Inc grew its stake in Hess Midstream Partners by 70.0% during the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after acquiring an additional 582 shares in the last quarter. CENTRAL TRUST Co grew its stake in Hess Midstream Partners by 124.4% during the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock valued at $84,000 after acquiring an additional 1,200 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after acquiring an additional 300 shares during the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Hess Midstream Partners in the fourth quarter worth about $96,000. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Stock Performance

NYSE:HESM opened at $40.33 on Friday. The stock’s fifty day moving average is $38.65 and its 200 day moving average is $37.75. Hess Midstream Partners LP has a fifty-two week low of $31.63 and a fifty-two week high of $44.14. The firm has a market capitalization of $8.31 billion, a PE ratio of 13.95 and a beta of 0.53. The company has a debt-to-equity ratio of 9.97, a quick ratio of 0.92 and a current ratio of 0.92.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.68 EPS for the quarter, topping 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 company had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.51 million. During the same period in the previous year, the firm earned $0.65 earnings per share. Hess Midstream Partners’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Hess Midstream Partners LP will post 2.9 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.7%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s dividend payout ratio is 107.96%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HESM shares. The Goldman Sachs Group cut Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target for the company. in a report on Monday, April 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. Finally, Morgan Stanley lowered 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 report on Wednesday, June 10th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $38.71.

About Hess Midstream Partners

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.