Van ECK Associates Corp Sells 13,904 Shares of Hess Midstream Partners LP $HESM

Van ECK Associates Corp reduced its stake in Hess Midstream Partners LP (NYSE:HESM) by 38.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,908 shares of the company’s stock after selling 13,904 shares during the period. Van ECK Associates Corp’s holdings in Hess Midstream Partners were worth $824,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HESM. Alps Advisors Inc. boosted its position in shares of Hess Midstream Partners by 3.4% during the 4th quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock worth $1,045,457,000 after purchasing an additional 1,007,846 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Hess Midstream Partners by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock valued at $313,301,000 after buying an additional 330,802 shares in the last quarter. Invesco Ltd. increased its position in Hess Midstream Partners by 10.7% in the 4th 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 in the last quarter. Bank of New York Mellon Corp raised its stake in Hess Midstream Partners by 67.5% during the 1st quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock worth $145,840,000 after buying an additional 1,512,007 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new position in Hess Midstream Partners in the fourth quarter worth approximately $92,288,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $40.03 on Friday. Hess Midstream Partners LP has a fifty-two week low of $31.63 and a fifty-two week high of $41.44. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 13.80 and a beta of 0.52. The company has a debt-to-equity ratio of 9.39, a quick ratio of 0.77 and a current ratio of 0.77. The firm’s 50-day simple moving average is $39.67 and its 200 day simple moving average is $38.98.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $399.00 million during the quarter, compared to the consensus estimate of $395.96 million. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. As a group, research analysts anticipate that Hess Midstream Partners LP will post 2.94 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, August 6th were issued a dividend of $0.7888 per share. This represents a $3.16 annualized dividend and a yield of 7.9%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date was Thursday, August 6th. Hess Midstream Partners’s dividend payout ratio is currently 108.62%.

Analysts Set New Price Targets

A number of equities research analysts have commented on HESM shares. Morgan Stanley reissued an “underweight” rating and issued a $39.00 price objective on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $37.67.

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.