Allianz Asset Management GmbH Cuts Stock Holdings in Hess Midstream Partners LP $HESM

Key Points

• Allianz Asset Management GmbH reduced its stake in Hess Midstream Partners by 36.3% during Q2, now owning 0.21% of the company, worth approximately $17.2 million.
• Hess Midstream Partners recently increased its quarterly dividend to $0.737 per share, reflecting a 9.0% dividend yield and a payout ratio of 109.26%.
• The company's earnings report indicated an exceptionally strong performance with an EPS of $0.74, exceeding analyst expectations, along with a 13.3% increase in revenue from the previous year.

Allianz Asset Management GmbH lowered its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 36.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 446,800 shares of the company's stock after selling 254,065 shares during the quarter. Allianz Asset Management GmbH owned 0.21% of Hess Midstream Partners worth $17,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Hess Midstream Partners in the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Hess Midstream Partners in the first quarter valued at $31,000. Farther Finance Advisors LLC raised its stake in Hess Midstream Partners by 840.2% in the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock valued at $45,000 after buying an additional 941 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Hess Midstream Partners in the second quarter valued at $50,000. Finally, FSC Wealth Advisors LLC acquired a new stake in Hess Midstream Partners in the first quarter valued at $58,000. Hedge funds and other institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Stock Down 0.1%

HESM opened at $32.73 on Monday. The business's 50-day simple moving average is $37.87 and its 200-day simple moving average is $38.25. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $44.14. The stock has a market capitalization of $6.87 billion, a P/E ratio of 12.12 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The business had revenue of $414.20 million for the quarter, compared to analysts' expectations of $405.08 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The business's revenue was up 13.3% compared to the same quarter last year. Analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were issued a dividend of $0.737 per share. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date of this dividend was Thursday, August 7th. Hess Midstream Partners's dividend payout ratio is 109.26%.

Insider Activity

In related news, COO John A. Gatling sold 62,457 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley assumed coverage on Hess Midstream Partners in a research note on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price target on the stock. Wall Street Zen upgraded Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Wells Fargo & Company cut Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a research note on Friday, September 19th. UBS Group restated a "neutral" rating and issued a $43.00 price target (down from $45.00) on shares of Hess Midstream Partners in a research note on Wednesday, September 10th. Finally, The Goldman Sachs Group assumed coverage on Hess Midstream Partners in a research report on Tuesday, September 30th. They set a "neutral" rating and a $36.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $42.00.

Hess Midstream Partners 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.

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