Stokes Capital Advisors LLC Sells 124,007 Shares of Hess Midstream Partners LP $HESM

Stokes Capital Advisors LLC decreased its position in Hess Midstream Partners LP (NYSE:HESM) by 95.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,745 shares of the company’s stock after selling 124,007 shares during the period. Stokes Capital Advisors LLC’s holdings in Hess Midstream Partners were worth $223,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Alps Advisors Inc. raised its stake in shares of Hess Midstream Partners by 3.4% in the fourth quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock valued at $1,045,457,000 after purchasing an additional 1,007,846 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Hess Midstream Partners by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock valued at $313,301,000 after buying an additional 330,802 shares during the period. Invesco Ltd. increased its holdings in Hess Midstream Partners by 10.7% in the 4th quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock valued at $228,385,000 after buying an additional 641,092 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Hess Midstream Partners in the 3rd quarter valued at $187,691,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Hess Midstream Partners in the 4th quarter valued at $92,288,000. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Price Performance

NYSE:HESM opened at $37.83 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97. The firm has a market cap of $7.80 billion, a PE ratio of 13.09 and a beta of 0.52. 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 $38.40 and its two-hundred day moving average price is $37.28.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The company had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.51 million. During the same quarter last year, the business posted $0.65 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Hess Midstream Partners LP will post 2.99 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were issued a dividend of $0.7792 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $3.12 dividend on an annualized basis and a yield of 8.2%. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s payout ratio is 107.96%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday. Morgan Stanley cut shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price target for the company. in a research note on Wednesday, June 10th. The Goldman Sachs Group downgraded Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective on the stock. in a report on Monday, April 20th. Wells Fargo & Company upped their price objective on 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, Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. One investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $38.71.

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.