Catalyst Capital Advisors LLC Sells 20,030 Shares of Hess Midstream Partners LP $HESM

Catalyst Capital Advisors LLC trimmed its stake in Hess Midstream Partners LP (NYSE:HESM) by 12.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 143,531 shares of the company’s stock after selling 20,030 shares during the period. Catalyst Capital Advisors LLC’s holdings in Hess Midstream Partners were worth $5,579,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Alps Advisors Inc. raised its stake in shares of Hess Midstream Partners by 3.4% during the fourth quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock valued at $1,045,457,000 after acquiring an additional 1,007,846 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Hess Midstream Partners by 3.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock valued at $313,301,000 after purchasing an additional 330,802 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Hess Midstream Partners by 10.7% in the 4th quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock worth $228,385,000 after buying an additional 641,092 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Hess Midstream Partners by 67.5% during the first quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock valued at $145,840,000 after buying an additional 1,512,007 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Hess Midstream Partners during the fourth quarter valued at $92,288,000. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Stock Performance

Shares of Hess Midstream Partners stock opened at $40.33 on Friday. The firm has a market capitalization of $8.31 billion, a P/E ratio of 13.95 and a beta of 0.53. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97. Hess Midstream Partners LP has a 52 week low of $31.63 and a 52 week high of $44.14. The company has a 50 day moving average price of $38.65 and a 200 day moving average price of $37.75.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Monday, May 4th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.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 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts expect that Hess Midstream Partners LP will post 2.9 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently announced 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. This represents a $3.12 annualized dividend and a dividend yield of 7.7%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Thursday, May 7th. Hess Midstream Partners’s dividend payout ratio is 107.96%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. 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 report on Wednesday, June 10th. Finally, The Goldman Sachs Group downgraded shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective on the stock. in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Hess Midstream Partners currently has a consensus rating of “Reduce” and a consensus price target 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.