Infrastructure Capital Advisors LLC Has $25.99 Million Stock Holdings in Hess Midstream Partners LP $HESM

Key Points

• Infrastructure Capital Advisors cut its Hess Midstream Partners stake by 51.6% in the first quarter, selling 712,277 shares and retaining 668,739 shares worth approximately $25.99 million. Institutional investors collectively own 98.97% of HESM.
• Hess Midstream reported quarterly earnings of $0.68 per share, ahead of the $0.65 consensus estimate, while revenue rose 2.1% year over year to $390.1 million.
• The company increased its quarterly dividend to $0.7888 per share, equivalent to a 7.9% annualized yield. Despite the dividend boost, analysts maintain a consensus “Reduce” rating with a $38.86 price target, below the reported $39.74 share price.

Infrastructure Capital Advisors LLC decreased its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 51.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 668,739 shares of the company's stock after selling 712,277 shares during the period. Hess Midstream Partners accounts for about 1.8% of Infrastructure Capital Advisors LLC's portfolio, making the stock its 13th largest holding. Infrastructure Capital Advisors LLC owned 0.32% of Hess Midstream Partners worth $25,994,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of HESM. Lazard Asset Management LLC lifted its position in Hess Midstream Partners by 1,110.7% during the first quarter. Lazard Asset Management LLC now owns 1,069,244 shares of the company's stock worth $41,562,000 after acquiring an additional 980,929 shares during the last quarter. OMERS ADMINISTRATION Corp grew its position in shares of Hess Midstream Partners by 11.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 27,202 shares of the company's stock valued at $1,057,000 after purchasing an additional 2,700 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Hess Midstream Partners in the first quarter valued at approximately $333,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Hess Midstream Partners during the first quarter worth approximately $6,756,000. Finally, First Trust Advisors LP increased its stake in shares of Hess Midstream Partners by 34.9% during the first quarter. First Trust Advisors LP now owns 959,321 shares of the company's stock worth $37,289,000 after purchasing an additional 247,973 shares during the period. Institutional investors and hedge funds own 98.97% of the company's stock.

Hess Midstream Partners Stock Performance

Shares of NYSE:HESM opened at $39.74 on Tuesday. Hess Midstream Partners LP has a 12-month low of $31.63 and a 12-month high of $44.14. The company's 50 day moving average price is $38.75 and its two-hundred day moving average price is $38.03. The firm has a market cap of $8.19 billion, a PE ratio of 13.75 and a beta of 0.53. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.03. The company had revenue of $390.10 million during the quarter, compared to the consensus estimate of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. Equities research analysts predict that Hess Midstream Partners LP will post 2.87 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.7888 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Thursday, August 6th. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.78. Hess Midstream Partners's dividend payout ratio is currently 107.96%.

Wall Street Analysts Forecast Growth

HESM has been the subject of several recent research reports. Weiss Ratings restated a "buy (b)" rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. The Goldman Sachs Group cut Hess Midstream Partners from a "neutral" rating to a "sell" rating and set a $32.00 price objective on the stock. in a research report on Monday, April 20th. Finally, Morgan Stanley reissued an "underweight" rating and set a $39.00 target price on shares of Hess Midstream Partners in a report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $38.86.

Hess Midstream Partners Company Profile

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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