Hess Midstream Partners LP $HESM is Eagle Global Advisors LLC's 4th Largest Position

Key Points

• Eagle Global Advisors LLC increased its stake in Hess Midstream Partners LP by 53.7%, making it the firm's 4th largest holding, now comprising about 3.8% of their portfolio.
• The company announced a quarterly dividend of $0.737 per share, reflecting a dividend yield of 8.4%, up from the previous dividend of $0.71.
• Hess Midstream Partners reported earnings of $0.74 EPS for the last quarter, exceeding analyst expectations and showcasing a 13.3% revenue increase year-over-year.

Eagle Global Advisors LLC lifted its position in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 53.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,453,834 shares of the company's stock after purchasing an additional 857,669 shares during the period. Hess Midstream Partners comprises approximately 3.8% of Eagle Global Advisors LLC's portfolio, making the stock its 4th largest position. Eagle Global Advisors LLC owned approximately 1.14% of Hess Midstream Partners worth $94,497,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of HESM. ProShare Advisors LLC lifted its position 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 acquiring an additional 429 shares during the last quarter. Leisure Capital Management lifted its position 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 acquiring an additional 533 shares during the last quarter. Janney Montgomery Scott LLC lifted its position 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 acquiring an additional 570 shares during the last quarter. IFP Advisors Inc lifted its position 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 acquiring an additional 586 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its position in Hess Midstream Partners by 3.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 19,215 shares of the company's stock valued at $813,000 after acquiring an additional 593 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO John A. Gatling sold 62,457 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hess Midstream Partners Price Performance

Shares of NYSE:HESM opened at $34.89 on Friday. The company has a 50-day simple moving average of $40.21 and a 200-day simple moving average of $39.25. Hess Midstream Partners LP has a one year low of $33.59 and a one year 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. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 12.92 and a beta of 0.68.

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. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The business had revenue of $414.20 million during the quarter, compared to analysts' expectations of $405.08 million. During the same period in the prior year, the company earned $0.59 earnings per share. The business's revenue was up 13.3% compared to the same quarter last year. On average, analysts predict that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were paid a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.4%. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 7th. Hess Midstream Partners's dividend payout ratio (DPR) is presently 109.26%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HESM shares. Wells Fargo & Company cut shares of Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a research report on Friday, September 19th. JPMorgan Chase & Co. boosted their price target on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Citigroup reduced their price target on shares of Hess Midstream Partners from $41.00 to $37.00 and set a "neutral" rating for the company in a research report on Tuesday. UBS Group reissued a "neutral" rating and issued a $43.00 price target (down from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday, September 10th. Finally, Morgan Stanley initiated coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $43.00.

Hess Midstream Partners 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.

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