Cooper Investors PTY Ltd. Sells 13,919 Shares of Hess Midstream Partners LP $HESM

Cooper Investors PTY Ltd. lessened its position in Hess Midstream Partners LP (NYSE:HESM) by 51.3% during the second quarter, Holdings Channel reports. The institutional investor owned 13,223 shares of the company’s stock after selling 13,919 shares during the quarter. Cooper Investors PTY Ltd.’s holdings in Hess Midstream Partners were worth $497,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of HESM. Caitong International Asset Management Co. Ltd bought a new position in shares of Hess Midstream Partners during the 4th quarter worth approximately $44,000. IFP Advisors Inc lifted its position in shares of Hess Midstream Partners by 70.0% in the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock worth $49,000 after purchasing an additional 582 shares in the last quarter. CENTRAL TRUST Co lifted its position in shares of Hess Midstream Partners by 124.4% in the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after purchasing an additional 300 shares during the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in Hess Midstream Partners during the fourth quarter worth $96,000. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Trading Down 0.8%

Shares of Hess Midstream Partners stock opened at $40.43 on Wednesday. The stock has a market cap of $8.34 billion, a P/E ratio of 13.99 and a beta of 0.52. 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 12-month low of $31.63 and a 12-month high of $43.24. The business’s 50 day moving average is $38.78 and its 200-day moving average is $38.30.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, August 3rd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $395.96 million. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 90.78%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. Equities research analysts predict that Hess Midstream Partners LP will post 2.86 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, August 6th will be given a $0.7888 dividend. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.8%. Hess Midstream Partners’s payout ratio is 107.96%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in 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 restated an “underweight” rating and set a $39.00 price objective on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. Finally, The Goldman Sachs Group cut Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective for the company. in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $38.86.

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.