Eagle Global Advisors LLC Cuts Holdings in Hess Midstream Partners LP $HESM

Key Points

• Eagle Global Advisors LLC trimmed its stake in Hess Midstream Partners by 10.8% in Q4, selling 202,710 shares and finishing with 1,672,776 shares (≈0.81% of HESM) worth about $57.71 million, making HESM its 11th largest holding.
• Hess Midstream raised its quarterly dividend to $0.7641 (annualized $3.06), implying a yield of ~8.2% while the payout ratio sits above 100% at 106.99%.
• Analyst sentiment is mixed with a consensus Hold rating and an average price target of $40.14, following recent downgrades from Raymond James and Goldman Sachs and a modest target lift from Wells Fargo.

Eagle Global Advisors LLC trimmed its holdings in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,672,776 shares of the company's stock after selling 202,710 shares during the quarter. Hess Midstream Partners makes up approximately 2.1% of Eagle Global Advisors LLC's investment portfolio, making the stock its 11th biggest holding. Eagle Global Advisors LLC owned about 0.81% of Hess Midstream Partners worth $57,711,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of HESM. Strategic Advocates LLC purchased a new position in Hess Midstream Partners during the third quarter valued at approximately $28,000. Marquette Asset Management LLC purchased a new position in Hess Midstream Partners during the third quarter valued at approximately $30,000. Geneos Wealth Management Inc. increased its holdings in Hess Midstream Partners by 14.3% during 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. Farther Finance Advisors LLC increased its holdings in Hess Midstream Partners by 14.1% during the third quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company's stock valued at $93,000 after buying an additional 333 shares during the period. Finally, Larson Financial Group LLC grew its holdings in Hess Midstream Partners by 668.5% in the third quarter. Larson Financial Group LLC now owns 3,074 shares of the company's stock worth $106,000 after purchasing an additional 2,674 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HESM. Raymond James Financial lowered shares of Hess Midstream Partners from an "outperform" rating to a "market perform" rating in a report on Monday, January 5th. Wells Fargo & Company lifted their price target on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, March 13th. Zacks Research raised shares of Hess Midstream Partners from a "strong sell" rating to a "hold" rating in a report on Monday, March 2nd. The Goldman Sachs Group lowered shares of Hess Midstream Partners from a "neutral" rating to a "sell" rating and set a $32.00 price target on the stock. in a report on Monday. Finally, Weiss Ratings raised shares of Hess Midstream Partners from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $40.14.

Hess Midstream Partners Price Performance

NYSE HESM opened at $37.31 on Wednesday. The firm's fifty day simple moving average is $38.59 and its two-hundred day simple moving average is $35.62. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.54. Hess Midstream Partners LP has a 12-month low of $31.63 and a 12-month high of $44.14. The firm has a market capitalization of $7.75 billion, a P/E ratio of 13.04 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its quarterly earnings data on Monday, February 2nd. The company reported $0.72 earnings per share for the quarter, meeting analysts' consensus estimates of $0.72. The firm had revenue of $374.50 million for the quarter, compared to analyst estimates of $419.16 million. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. Analysts forecast that Hess Midstream Partners LP will post 2.97 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders 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 dividend yield of 8.2%. This is a boost from Hess Midstream Partners's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, February 5th. Hess Midstream Partners's dividend payout ratio is presently 106.99%.

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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