Cinctive Capital Management LP Acquires Shares of 57,215 Hess Midstream Partners LP $HESM

Key Points

• Cinctive Capital established a new position in Hess Midstream Partners (HESM) in Q3, buying 57,215 shares valued at about $1.98 million amid heavy institutional ownership (98.97%).
• Hess Midstream raised its quarterly dividend to $0.7641 (annualized $3.06) for a yield of ~7.8%, but the dividend payout ratio is elevated at 106.99%, signaling potential sustainability risk.
• The company reported quarterly EPS of $0.72 (in line with estimates) while revenue missed at $374.5M vs. $419.2M expected; the stock trades at a P/E of 13.75 with a consensus analyst rating of "Hold" and a $40.71 target.

Cinctive Capital Management LP bought a new position in Hess Midstream Partners LP (NYSE:HESM - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 57,215 shares of the company's stock, valued at approximately $1,977,000.

Other large investors also recently modified their holdings of the company. Marquette Asset Management LLC acquired a new stake in shares of Hess Midstream Partners in the third quarter valued at approximately $30,000. Geneos Wealth Management Inc. lifted its holdings in Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock worth $92,000 after buying an additional 300 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Hess Midstream Partners by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company's stock worth $93,000 after buying an additional 333 shares in the last quarter. Virtus Investment Advisers LLC boosted its position in Hess Midstream Partners by 7.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 4,456 shares of the company's stock valued at $172,000 after buying an additional 315 shares during the last quarter. Finally, US Bancorp DE acquired a new stake in shares of Hess Midstream Partners in the 3rd quarter valued at $173,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Partners Stock Performance

Shares of Hess Midstream Partners stock opened at $39.32 on Tuesday. The firm has a fifty day moving average of $36.55 and a two-hundred day moving average of $35.45. 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 stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 13.75 and a beta of 0.60. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $44.14.

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

Hess Midstream Partners Increases Dividend

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

Wall Street Analysts Forecast Growth

HESM has been the subject of a number of recent research reports. Zacks Research upgraded Hess Midstream Partners from a "strong sell" rating to a "hold" rating in a research report on Monday, March 2nd. Weiss Ratings upgraded Hess Midstream Partners from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. Wells Fargo & Company lifted their price objective on Hess Midstream Partners from $39.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Raymond James Financial cut Hess Midstream Partners from an "outperform" rating to a "market perform" rating in a report on Monday, January 5th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $40.71.

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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