Janus Henderson Group PLC Sells 172,726 Shares of Hess Midstream Partners LP $HESM

Key Points

• Janus Henderson Group cut its Hess Midstream Partners stake by 75.4% in the first quarter, selling 172,726 shares and retaining 56,416 shares valued at approximately $2.19 million. Institutional investors own 98.97% of the stock.
• Hess Midstream exceeded quarterly earnings expectations, reporting $0.75 EPS versus the $0.67 consensus and $399 million in revenue. However, revenue declined 3.7% year over year.
• The partnership increased its quarterly dividend to $0.7888 per share, implying a 7.9% annualized yield. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $38.86 versus the stock’s $39.87 opening price.

Janus Henderson Group PLC trimmed its position in Hess Midstream Partners LP (NYSE:HESM - Free Report) by 75.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,416 shares of the company's stock after selling 172,726 shares during the period. Janus Henderson Group PLC's holdings in Hess Midstream Partners were worth $2,193,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of HESM. Geneos Wealth Management Inc. raised its holdings in shares of 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 purchasing an additional 300 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Hess Midstream Partners by 1.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 25,766 shares of the company's stock worth $889,000 after purchasing an additional 330 shares during the last quarter. Investment Management Corp VA ADV grew its position in Hess Midstream Partners by 3.0% in the fourth quarter. Investment Management Corp VA ADV now owns 12,519 shares of the company's stock valued at $432,000 after purchasing an additional 362 shares in the last quarter. Cetera Investment Advisers increased its stake in Hess Midstream Partners by 0.8% in the 4th quarter. Cetera Investment Advisers now owns 44,931 shares of the company's stock valued at $1,550,000 after buying an additional 378 shares during the last quarter. Finally, Creative Planning increased its stake in Hess Midstream Partners by 4.7% in the 3rd quarter. Creative Planning now owns 9,000 shares of the company's stock valued at $311,000 after buying an additional 404 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors.

Hess Midstream Partners Stock Down 0.2%

Hess Midstream Partners stock opened at $39.87 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 52-week low of $31.63 and a 52-week high of $42.22. The firm has a 50 day moving average price of $38.90 and a two-hundred day moving average price of $38.38. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 13.75 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The firm had revenue of $399.00 million during the quarter, compared to the consensus estimate of $395.96 million. Hess Midstream Partners had a return on equity of 90.78% and a net margin of 23.23%.The business's revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.74 EPS. Equities analysts predict that Hess Midstream Partners LP will post 2.9 EPS 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. Investors 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 boost from Hess Midstream Partners's previous quarterly dividend of $0.78. Hess Midstream Partners's dividend payout ratio is presently 108.62%.

Analysts Set New Price Targets

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

Hess Midstream Partners 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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