Hess Midstream Partners LP $HESM Holdings Increased by Alps Advisors Inc.

Key Points

• Alps Advisors increased its HESM stake by 4%, adding 1.17 million shares to hold about 30.43 million shares, or 14.76% of Hess Midstream Partners.
• Hess Midstream beat quarterly earnings and revenue estimates, reporting EPS of $0.77 and revenue of $410.1 million. It also raised its quarterly dividend to $0.7985 per share, equivalent to an annualized yield of about 10.7%.
• Analyst sentiment was cautious: the average rating was “Reduce,” with an average price target of $33.25; ratings included two Buys, four Holds, and three Sells.

Alps Advisors Inc. grew its position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,427,712 shares of the company's stock after buying an additional 1,173,638 shares during the period. Hess Midstream Partners accounts for 5.0% of Alps Advisors Inc.'s investment portfolio, making the stock its 7th largest position. Alps Advisors Inc. owned about 14.76% of Hess Midstream Partners worth $1,137,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HESM. Compass Financial Management LLC lifted its holdings in shares of Hess Midstream Partners by 149.4% in the 3rd quarter. Compass Financial Management LLC now owns 868 shares of the company's stock valued at $32,000 after acquiring an additional 520 shares during the last quarter. Grove Bank & Trust acquired a new position in shares of Hess Midstream Partners during the 2nd quarter worth $38,000. Integrated Wealth Concepts LLC purchased a new stake in Hess Midstream Partners during the 2nd quarter worth $77,000. IFP Advisors Inc lifted its stake in Hess Midstream Partners by 564.2% in the third quarter. IFP Advisors Inc now owns 2,557 shares of the company's stock valued at $96,000 after buying an additional 2,172 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Hess Midstream Partners by 113.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,658 shares of the company's stock valued at $99,000 after acquiring an additional 1,415 shares in the last quarter. Institutional investors own 98.97% of the company's stock.

Hess Midstream Partners Stock Performance

HESM opened at $29.98 on Friday. The stock has a market cap of $6.18 billion, a PE ratio of 10.27 and a beta of 0.68. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 9.39. The business's 50 day moving average is $35.72 and its 200-day moving average is $37.86. Hess Midstream Partners LP has a twelve month low of $29.52 and a twelve month high of $41.44.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued its quarterly earnings results on Friday, October 30th. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.05. The company had revenue of $410.10 million during the quarter, compared to analyst estimates of $404.67 million. Hess Midstream Partners had a return on equity of 94.12% and a net margin of 23.49%. The company's quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. On average, analysts predict that Hess Midstream Partners LP will post 3.30 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Thursday, November 5th will be issued a $0.7985 dividend. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.7888. This represents a $3.19 annualized dividend and a dividend yield of 10.7%. The ex-dividend date is Thursday, November 5th. Hess Midstream Partners's dividend payout ratio (DPR) is 108.22%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays set a $32.00 price target on Hess Midstream Partners in a research note on Friday, October 23rd. Citigroup reduced their price objective on shares of Hess Midstream Partners from $37.00 to $33.00 and set a "neutral" rating for the company in a report on Tuesday, October 13th. UBS Group cut their target price on shares of Hess Midstream Partners from $37.00 to $34.00 and set a "neutral" rating for the company in a research report on Tuesday, October 13th. Wells Fargo & Company dropped their price target on shares of Hess Midstream Partners from $40.00 to $34.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, Morgan Stanley dropped their price target on Hess Midstream Partners from $39.00 to $30.00 and set an "underweight" rating for the company in a research report on Tuesday, October 13th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $33.25.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP NYSE: HESM is a midstream energy company that owns and operates infrastructure supporting oil and gas production, primarily in the Bakken and Three Forks shale plays of North Dakota. The company provides essential services between the wellhead and downstream markets rather than exploring for or producing hydrocarbons itself.

Its operations include gathering, processing, storage and transportation services for crude oil, natural gas and natural gas liquids. Hess Midstream also provides produced-water gathering and disposal services, helping manage water generated during oil and gas production.

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