Hess Midstream Partners LP $HESM Stake Cut by Deutsche Bank AG

Key Points

• Deutsche Bank AG has significantly reduced its stake in Hess Midstream Partners LP by 99.2%, selling over 1.39 million shares and leaving it with only 10,979 shares valued at approximately $464,000.
• Hess Midstream Partners has increased its quarterly dividend to $0.737, up from a previous offering, resulting in an annualized yield of 7.1%.
• Several institutional investors have adjusted their positions in Hess Midstream, with the majority of shares, 98.97%, now held by hedge funds and other institutional investors.

Deutsche Bank AG trimmed its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 99.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,979 shares of the company's stock after selling 1,394,531 shares during the quarter. Deutsche Bank AG's holdings in Hess Midstream Partners were worth $464,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. ProShare Advisors LLC increased its holdings in Hess Midstream Partners by 5.7% in the fourth quarter. ProShare Advisors LLC now owns 7,935 shares of the company's stock valued at $294,000 after buying an additional 429 shares during the last quarter. WBI Investments LLC increased its holdings in Hess Midstream Partners by 2.5% in the fourth quarter. WBI Investments LLC now owns 18,309 shares of the company's stock valued at $678,000 after buying an additional 446 shares during the last quarter. Leisure Capital Management increased its holdings in Hess Midstream Partners by 2.0% in the first quarter. Leisure Capital Management now owns 26,681 shares of the company's stock valued at $1,128,000 after buying an additional 533 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Hess Midstream Partners by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the company's stock valued at $615,000 after buying an additional 570 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Hess Midstream Partners by 20.0% in the first quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock valued at $149,000 after buying an additional 586 shares during the last quarter. 98.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley assumed coverage on Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price objective for the company. Wall Street Zen raised Hess Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Wells Fargo & Company upped their target price on Hess Midstream Partners from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.20.

Hess Midstream Partners Stock Performance

Shares of NYSE:HESM traded down $0.39 during trading on Friday, hitting $41.19. 1,247,035 shares of the company traded hands, compared to its average volume of 1,472,230. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. The business's fifty day moving average is $40.11 and its 200-day moving average is $39.51. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 15.25 and a beta of 0.67. Hess Midstream Partners LP has a one year low of $33.59 and a one year high of $44.14.

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

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a dividend of $0.737 per share. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.71. This represents a $2.95 annualized dividend and a dividend yield of 7.2%. The ex-dividend date was Thursday, August 7th. Hess Midstream Partners's payout ratio is presently 109.26%.

Insider Activity at Hess Midstream Partners

In other news, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Geurt G. Schoonman sold 3,249 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $39.10, for a total value of $127,035.90. The disclosure for this sale can be found here.

About Hess Midstream Partners

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.