Hess Midstream Partners LP $HESM Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Hess Midstream Partners LP by 2.2%, owning 4,001,778 shares worth approximately $169 million after selling 89,233 shares.
• Hess Midstream Partners recently declared a quarterly dividend of $0.737 per share, representing a 7.0% yield, up from the previous $0.71.
• Analysts have a largely positive outlook, with an average rating of "Moderate Buy" and a price target of $45.80, following recent upgrades by several financial institutions.

Invesco Ltd. trimmed its holdings in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,001,778 shares of the company's stock after selling 89,233 shares during the period. Invesco Ltd. owned 1.84% of Hess Midstream Partners worth $169,235,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new stake in Hess Midstream Partners during the fourth quarter worth about $525,000. Envestnet Asset Management Inc. increased its position in Hess Midstream Partners by 2.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 120,180 shares of the company's stock worth $4,450,000 after purchasing an additional 3,412 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Hess Midstream Partners during the first quarter worth about $707,000. Northern Trust Corp increased its position in Hess Midstream Partners by 17.8% during the fourth quarter. Northern Trust Corp now owns 85,550 shares of the company's stock worth $3,168,000 after purchasing an additional 12,939 shares during the last quarter. Finally, Financial Sense Advisors Inc. increased its position in Hess Midstream Partners by 151.8% during the first quarter. Financial Sense Advisors Inc. now owns 352,067 shares of the company's stock worth $14,889,000 after purchasing an additional 212,266 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Partners Trading Down 0.7%

HESM stock traded down $0.28 during mid-day trading on Monday, hitting $40.89. 236,630 shares of the company were exchanged, compared to its average volume of 1,343,854. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. The firm has a market capitalization of $8.59 billion, a P/E ratio of 15.15 and a beta of 0.67. The business has a fifty day simple moving average of $39.65 and a 200-day simple moving average of $39.45. Hess Midstream Partners LP has a 12-month low of $33.59 and a 12-month high of $44.14.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.18. The company had revenue of $414.20 million during the quarter, compared to analyst estimates of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. Hess Midstream Partners's revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. On average, equities research analysts predict that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

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

Insider Activity

In other news, COO John A. Gatling sold 62,457 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total value of $2,597,586.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Geurt G. Schoonman sold 3,249 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $39.10, for a total transaction of $127,035.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,088,223 shares of company stock valued at $556,454,599.

Analyst Upgrades and Downgrades

HESM has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on shares of Hess Midstream Partners in a research report on Friday, July 25th. They set an "equal weight" rating and a $48.00 price objective for the company. Wells Fargo & Company increased 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 note on Saturday, August 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $45.80.

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.