Hess Midstream Partners LP $HESM Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 14.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,388,748 shares of the company’s stock after selling 413,176 shares during the period. TD Asset Management Inc’s holdings in Hess Midstream Partners were worth $82,531,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Marquette Asset Management LLC purchased a new stake in shares of Hess Midstream Partners during the third quarter worth $30,000. CENTRAL TRUST Co grew its stake in Hess Midstream Partners by 34.9% during the 2nd quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock worth $59,000 after purchasing an additional 400 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after purchasing an additional 300 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Hess Midstream Partners by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company’s stock worth $93,000 after purchasing an additional 333 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in Hess Midstream Partners by 40.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,180 shares of the company’s stock valued at $122,000 after purchasing an additional 913 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Wall Street Analysts Forecast Growth

HESM has been the subject of a number of analyst reports. Raymond James Financial downgraded Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Wall Street Zen cut shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Hess Midstream Partners in a report on Monday, December 29th. Finally, Zacks Research downgraded shares of Hess Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $40.57.

Hess Midstream Partners Price Performance

Shares of HESM opened at $38.60 on Friday. The company has a debt-to-equity ratio of 8.83, a current ratio of 0.75 and a quick ratio of 0.75. Hess Midstream Partners LP has a 1-year low of $31.63 and a 1-year high of $44.14. The stock has a market cap of $8.02 billion, a PE ratio of 13.50 and a beta of 0.62. The firm has a fifty day moving average price of $35.40 and a 200 day moving average price of $35.72.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. Hess Midstream Partners had a return on equity of 73.17% and a net margin of 21.77%.The company had revenue of $374.50 million for the quarter, compared to analyst estimates of $419.16 million. During the same quarter last year, the company posted $0.68 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hess Midstream Partners LP will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared 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. This represents a $3.06 annualized dividend and a yield of 7.9%. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, February 5th. Hess Midstream Partners’s dividend payout ratio is presently 106.99%.

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.