Hess Midstream Partners LP $HESM Shares Sold by Catalyst Capital Advisors LLC

Key Points

• Catalyst Capital Advisors LLC cut its Hess Midstream Partners stake by 18.8% in the fourth quarter, selling 37,800 shares and leaving it with 163,561 shares worth about $5.64 million.
• Analyst sentiment is mixed but leans cautious: the stock’s consensus rating is Hold with an average target price of $38.71, while Goldman Sachs downgraded it to Sell and others adjusted targets modestly.
• Hess Midstream reported solid quarterly results, beating EPS expectations with $0.68 per share and increasing its quarterly dividend to $0.7792, equal to an annualized yield of about 8.3%.

Catalyst Capital Advisors LLC lowered its position in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 18.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,561 shares of the company's stock after selling 37,800 shares during the quarter. Catalyst Capital Advisors LLC owned 0.08% of Hess Midstream Partners worth $5,643,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Advocates LLC acquired a new position in Hess Midstream Partners in the third quarter valued at $28,000. IFP Advisors Inc boosted its holdings in Hess Midstream Partners by 70.0% in the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company's stock valued at $49,000 after acquiring an additional 582 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock valued at $92,000 after acquiring an additional 300 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new position in Hess Midstream Partners in the fourth quarter valued at $96,000. Finally, Larson Financial Group LLC boosted 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 valued at $106,000 after acquiring an additional 2,674 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HESM. Zacks Research upgraded Hess Midstream Partners from a "strong sell" rating to a "hold" rating in a report on Monday, March 2nd. The Goldman Sachs Group cut Hess Midstream Partners from a "neutral" rating to a "sell" rating and set a $32.00 target price on the stock. in a report on Monday, April 20th. Weiss Ratings upgraded Hess Midstream Partners from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. Morgan Stanley reduced their price objective on Hess Midstream Partners from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company boosted their price objective on Hess Midstream Partners from $39.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, March 13th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $38.71.

Hess Midstream Partners Trading Down 2.0%

NYSE:HESM opened at $37.56 on Friday. The company has a debt-to-equity ratio of 9.97, a quick ratio of 0.92 and a current ratio of 0.92. Hess Midstream Partners LP has a one year low of $31.63 and a one year high of $44.14. The business's 50-day simple moving average is $38.90 and its 200 day simple moving average is $36.62. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 13.00 and a beta of 0.54.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The business had revenue of $390.10 million for the quarter, compared to analysts' expectations of $389.51 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The company's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that Hess Midstream Partners LP will post 2.99 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were issued a $0.7792 dividend. This is an increase from Hess Midstream Partners's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend was Thursday, May 7th. Hess Midstream Partners's dividend payout ratio is presently 107.61%.

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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