American Century Companies Inc. Boosts Stock Position in Hess Midstream Partners LP $HESM

Key Points

• American Century Companies increased its stake in Hess Midstream Partners by 13.0% in Q3 to 696,628 shares (about 0.33% ownership) valued at roughly $24.07 million, and institutional investors now own about 98.97% of the stock.
• Hess Midstream raised its quarterly dividend to $0.7641 (annualized $3.06) for a yield of 7.8%, though the dividend payout ratio is elevated at 106.99%, which may raise sustainability concerns.
• The company reported Q4 earnings of $0.72 EPS (meeting estimates) but missed revenue expectations ($374.5M vs. $419.2M expected); market cap is about $8.15B, PE ~13.72, and analysts’ consensus rating is Hold with an average target of $40.57.

American Century Companies Inc. lifted its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 13.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 696,628 shares of the company's stock after acquiring an additional 79,913 shares during the quarter. American Century Companies Inc. owned approximately 0.33% of Hess Midstream Partners worth $24,068,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HESM. Marquette Asset Management LLC purchased a new position in Hess Midstream Partners during the third quarter valued at approximately $30,000. CENTRAL TRUST Co increased its stake in shares of Hess Midstream Partners by 34.9% in the second quarter. CENTRAL TRUST Co now owns 1,545 shares of the company's stock worth $59,000 after purchasing an additional 400 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock valued at $92,000 after purchasing an additional 300 shares during the period. Farther Finance Advisors LLC raised its position in shares of Hess Midstream Partners by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company's stock valued at $93,000 after purchasing an additional 333 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Hess Midstream Partners by 40.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,180 shares of the company's stock valued at $122,000 after buying an additional 913 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Price Performance

HESM stock opened at $39.24 on Monday. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.85 and a current ratio of 0.85. The company's fifty day moving average price is $35.98 and its 200-day moving average price is $35.54. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $44.14. The company has a market capitalization of $8.15 billion, a PE ratio of 13.72 and a beta of 0.60.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its earnings results on Monday, February 2nd. The company reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. The company had revenue of $374.50 million during the quarter, compared to analysts' expectations of $419.16 million. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. Hess Midstream Partners's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.68 earnings per share. On average, equities analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Thursday, February 5th were given a dividend of $0.7641 per share. The ex-dividend date was Thursday, February 5th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.75. This represents a $3.06 dividend on an annualized basis and a dividend yield of 7.8%. Hess Midstream Partners's dividend payout ratio (DPR) is 106.99%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Hess Midstream Partners from a "buy" rating to a "hold" rating in a report on Saturday, November 15th. Zacks Research raised Hess Midstream Partners from a "strong sell" rating to a "hold" rating in a report on Monday, March 2nd. Raymond James Financial lowered Hess Midstream Partners from an "outperform" rating to a "market perform" rating in a research note on Monday, January 5th. Finally, Weiss Ratings upgraded Hess Midstream Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. One equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $40.57.

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.

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