Miller Howard Investments Inc. NY Has $49.90 Million Position in Hess Midstream Partners LP $HESM

Key Points

• Miller Howard Investments trimmed its stake in Hess Midstream Partners by 4% in Q4 to 1,446,315 shares valued at $49.90 million, representing about 1.5% of Miller Howard’s portfolio and roughly a 0.70% ownership stake in HESM.
• Hess Midstream raised its quarterly dividend to $0.7641 (annualized $3.06), implying a 8.1% yield, but the dividend payout ratio is 106.64%, raising questions about sustainability.
• The company reported Q4 EPS of $0.72, matching estimates, but revenue of $374.5 million missed the $419.2 million consensus; HESM holds a net margin of 21.8%, ROE of 74.9%, trades near $37.87 with a PE of 13.24, and a 52-week range of $31.63–$44.14.

Miller Howard Investments Inc. NY lowered its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,446,315 shares of the company's stock after selling 60,806 shares during the period. Hess Midstream Partners comprises about 1.5% of Miller Howard Investments Inc. NY's investment portfolio, making the stock its 24th biggest holding. Miller Howard Investments Inc. NY owned 0.70% of Hess Midstream Partners worth $49,898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its stake in shares of Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock valued at $92,000 after buying an additional 300 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Hess Midstream Partners by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company's stock valued at $93,000 after buying an additional 333 shares during the period. Creative Planning boosted its stake in shares of Hess Midstream Partners by 4.7% during 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 period. Investment Management Corp VA ADV boosted its stake in shares of Hess Midstream Partners by 3.6% during the 3rd quarter. Investment Management Corp VA ADV now owns 12,157 shares of the company's stock valued at $420,000 after buying an additional 423 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Hess Midstream Partners by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 36,850 shares of the company's stock valued at $1,273,000 after buying an additional 460 shares during the period. Institutional investors and hedge funds own 98.97% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Hess Midstream Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. Zacks Research raised shares of Hess Midstream Partners from a "strong sell" rating to a "hold" rating in a research note on Monday, March 2nd. Raymond James Financial lowered shares of Hess Midstream Partners from an "outperform" rating to a "market perform" rating in a research note on Monday, January 5th. Wells Fargo & Company lifted their price objective on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, March 13th. Finally, The Goldman Sachs Group lowered shares of Hess Midstream Partners to a "sell" rating and set a $32.00 price objective for the company. in a research note on Monday. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $40.14.

Hess Midstream Partners Stock Up 0.0%

HESM stock opened at $37.87 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.54. Hess Midstream Partners LP has a 1 year low of $31.63 and a 1 year high of $44.14. The company has a fifty day simple moving average of $38.55 and a 200 day simple moving average of $35.58. The firm has a market cap of $7.87 billion, a PE ratio of 13.24 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last released its quarterly earnings data on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. The business had revenue of $374.50 million during the quarter, compared to analyst estimates of $419.16 million. During the same quarter in the previous year, the business earned $0.68 EPS. Hess Midstream Partners's quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Thursday, February 5th were given a dividend of $0.7641 per share. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $3.06 dividend on an annualized basis and a yield of 8.1%. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.75. Hess Midstream Partners's dividend payout ratio (DPR) is presently 106.64%.

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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