Stokes Capital Advisors LLC Sells 24,100 Shares of Hess Midstream Partners LP $HESM

Stokes Capital Advisors LLC decreased its position in Hess Midstream Partners LP (NYSE:HESM) by 15.4% during the third quarter, Holdings Channel.com reports. The fund owned 132,662 shares of the company’s stock after selling 24,100 shares during the quarter. Stokes Capital Advisors LLC’s holdings in Hess Midstream Partners were worth $4,583,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Hess Midstream Partners by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 706,507 shares of the company’s stock worth $29,878,000 after buying an additional 41,405 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Hess Midstream Partners by 33.6% in the 1st quarter. HighTower Advisors LLC now owns 34,997 shares of the company’s stock worth $1,480,000 after purchasing an additional 8,792 shares during the period. Russell Investments Group Ltd. increased its position in shares of Hess Midstream Partners by 64.2% during the first quarter. Russell Investments Group Ltd. now owns 17,796 shares of the company’s stock valued at $753,000 after buying an additional 6,958 shares during the period. American Century Companies Inc. raised its stake in Hess Midstream Partners by 27.8% in the first quarter. American Century Companies Inc. now owns 306,851 shares of the company’s stock worth $12,977,000 after buying an additional 66,753 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in Hess Midstream Partners by 5.9% in the first quarter. Raymond James Financial Inc. now owns 371,011 shares of the company’s stock worth $15,690,000 after buying an additional 20,601 shares during the period. 98.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HESM shares. Wall Street Zen cut Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Citigroup reduced their target price on shares of Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Hess Midstream Partners in a research report on Monday, December 8th. The Goldman Sachs Group initiated coverage on shares of Hess Midstream Partners in a report on Tuesday, September 30th. They issued a “neutral” rating and a $36.00 price objective on the stock. Finally, Raymond James Financial reiterated an “outperform” rating and set a $35.00 target price (down from $48.00) on shares of Hess Midstream Partners in a report on Friday, October 24th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Hess Midstream Partners presently has a consensus rating of “Hold” and a consensus target price of $40.57.

Hess Midstream Partners Trading Down 1.3%

Shares of NYSE HESM opened at $33.93 on Friday. The firm’s 50 day moving average price is $33.49 and its 200-day moving average price is $37.07. Hess Midstream Partners LP has a 52-week low of $31.63 and a 52-week high of $44.14. 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 company has a market cap of $7.05 billion, a PE ratio of 12.03 and a beta of 0.62.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The company had revenue of $420.90 million during 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%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. On average, equities research analysts expect that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Thursday, November 6th were issued a dividend of $0.7548 per share. The ex-dividend date of this dividend was Thursday, November 6th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.74. This represents a $3.02 dividend on an annualized basis and a dividend yield of 8.9%. Hess Midstream Partners’s dividend payout ratio is currently 107.09%.

Hess Midstream Partners Company 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.