Epoch Investment Partners Inc. Sells 174,136 Shares of Hess Midstream Partners LP $HESM

Key Points

• Epoch Investment Partners Inc. has reduced its stake in Hess Midstream Partners LP by 5.3%, now owning 3,135,411 shares valued at approximately $132.60 million.
• Hess Midstream recently increased its quarterly dividend to $0.737 per share, resulting in an annualized yield of 7.2% despite a payout ratio of 109.26%.
• The company reported a 13.3% year-over-year increase in quarterly revenue, posting $414.20 million, and an EPS of $0.74, surpassing analysts' expectations.

Epoch Investment Partners Inc. lowered its position in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,135,411 shares of the company's stock after selling 174,136 shares during the quarter. Epoch Investment Partners Inc. owned approximately 1.44% of Hess Midstream Partners worth $132,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in HESM. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hess Midstream Partners in the 1st quarter worth approximately $31,000. Farther Finance Advisors LLC boosted its position in Hess Midstream Partners by 840.2% during the first quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock valued at $45,000 after buying an additional 941 shares during the period. FSC Wealth Advisors LLC bought a new position in shares of Hess Midstream Partners during the first quarter valued at about $58,000. IFP Advisors Inc grew its stake in shares of Hess Midstream Partners by 20.0% during 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. Finally, Virtus ETF Advisers LLC increased its holdings in shares of Hess Midstream Partners by 9.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,972 shares of the company's stock worth $184,000 after buying an additional 432 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of Hess Midstream Partners stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geurt G. Schoonman sold 3,249 shares of the business's stock in a transaction 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.

Hess Midstream Partners Stock Down 0.9%

Shares of HESM traded down $0.39 on Friday, reaching $41.19. The stock had a trading volume of 1,247,035 shares, compared to its average volume of 1,472,230. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 15.25 and a beta of 0.67. The company has a 50-day simple moving average of $40.11 and a 200-day simple moving average of $39.51. Hess Midstream Partners LP has a 12-month low of $33.59 and a 12-month high of $44.14. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71.

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

Hess Midstream Partners Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Hess Midstream Partners Company Profile

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.