Cooper Investors PTY Ltd. Sells 13,919 Shares of Hess Midstream Partners LP $HESM

Cooper Investors PTY Ltd. reduced its holdings in Hess Midstream Partners LP (NYSE:HESM) by 51.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,223 shares of the company’s stock after selling 13,919 shares during the period. Cooper Investors PTY Ltd.’s holdings in Hess Midstream Partners were worth $497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glenmede Trust Co. NA bought a new stake in shares of Hess Midstream Partners during the 1st quarter valued at $470,000. Ritter Alpha LP bought a new position in shares of Hess Midstream Partners in the 1st quarter worth $249,000. Sunbelt Securities Inc. grew its stake in shares of Hess Midstream Partners by 13,752.4% during the first quarter. Sunbelt Securities Inc. now owns 5,818 shares of the company’s stock worth $226,000 after purchasing an additional 5,776 shares during the period. Amundi grew its stake in shares of Hess Midstream Partners by 148.7% during the first quarter. Amundi now owns 35,730 shares of the company’s stock worth $1,389,000 after purchasing an additional 21,361 shares during the period. Finally, California State Teachers Retirement System increased its holdings in Hess Midstream Partners by 19.9% in the first quarter. California State Teachers Retirement System now owns 135,137 shares of the company’s stock valued at $5,253,000 after purchasing an additional 22,457 shares during the last quarter. 98.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. 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 research note on Monday, April 20th. Finally, Morgan Stanley reissued an “underweight” rating and set a $39.00 price objective on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $38.86.

Hess Midstream Partners Trading Down 0.8%

NYSE HESM opened at $40.43 on Wednesday. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $43.24. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $8.34 billion, a P/E ratio of 13.99 and a beta of 0.52. The stock’s 50-day moving average is $38.78 and its 200-day moving average is $38.30.

Hess Midstream Partners (NYSE:HESM) last posted its earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $395.96 million. Hess Midstream Partners had a return on equity of 90.78% and a net margin of 23.23%.Hess Midstream Partners’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS. Sell-side analysts anticipate that Hess Midstream Partners LP will post 2.86 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, August 6th will be paid a $0.7888 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Thursday, August 6th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 107.96%.

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.