Americana Partners LLC Purchases 159,008 Shares of Hess Midstream Partners LP $HESM

Key Points

• Americana Partners LLC sharply increased its stake in Hess Midstream Partners, buying 159,008 additional shares in the fourth quarter and boosting its holdings by 836% to 178,028 shares worth about $6.14 million.
• Hess Midstream posted better-than-expected quarterly results, with EPS of $0.68 versus $0.65 expected and revenue of $390.1 million, while revenue rose 2.1% from a year ago.
• The company raised its quarterly dividend to $0.7792 per share, implying an annualized yield of 7.7%, though its payout ratio is elevated at 107.96%.

Americana Partners LLC grew its position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 836.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,028 shares of the company's stock after buying an additional 159,008 shares during the quarter. Americana Partners LLC owned approximately 0.09% of Hess Midstream Partners worth $6,142,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its holdings in Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock valued at $92,000 after buying an additional 300 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in Hess Midstream Partners by 1.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 25,766 shares of the company's stock valued at $889,000 after buying an additional 330 shares during the period. Investment Management Corp VA ADV lifted its holdings in Hess Midstream Partners by 3.0% in the fourth quarter. Investment Management Corp VA ADV now owns 12,519 shares of the company's stock valued at $432,000 after buying an additional 362 shares during the period. Creative Planning lifted its holdings in Hess Midstream Partners by 4.7% in the third quarter. Creative Planning now owns 9,000 shares of the company's stock valued at $311,000 after buying an additional 404 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Hess Midstream Partners by 1.3% in the third quarter. Arizona State Retirement System now owns 36,850 shares of the company's stock valued at $1,273,000 after buying an additional 460 shares during the period. 98.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on HESM. Weiss Ratings upgraded shares of Hess Midstream Partners from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. Morgan Stanley lowered their price objective on shares of Hess Midstream Partners from $42.00 to $38.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 12th. Zacks Research raised shares of Hess Midstream Partners from a "strong sell" rating to a "hold" rating in a research report on Monday, March 2nd. The Goldman Sachs Group downgraded shares of Hess Midstream Partners from a "neutral" rating to a "sell" rating and set a $32.00 target price for the company. in a research report on Monday, April 20th. Finally, Wells Fargo & Company raised their target price on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday, March 13th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Hess Midstream Partners presently has an average rating of "Hold" and an average price target of $38.71.

Hess Midstream Partners Stock Up 2.2%

NYSE:HESM opened at $40.66 on Friday. The firm's 50 day simple moving average is $38.93 and its 200 day simple moving average is $36.44. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92. 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 cap of $8.38 billion, a PE ratio of 14.07 and a beta of 0.54.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. The business had revenue of $390.10 million for the quarter, compared to the consensus estimate of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The firm's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. On average, research analysts anticipate that Hess Midstream Partners LP will post 2.99 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were paid a dividend of $0.7792 per share. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.76. The ex-dividend date was Thursday, May 7th. This represents a $3.12 dividend on an annualized basis and a yield of 7.7%. Hess Midstream Partners's dividend payout ratio (DPR) is presently 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.

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