Van ECK Associates Corp Sells 13,904 Shares of Hess Midstream Partners LP $HESM

Van ECK Associates Corp cut its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 38.8% during the 2nd quarter, Holdings Channel reports. The firm owned 21,908 shares of the company’s stock after selling 13,904 shares during the quarter. Van ECK Associates Corp’s holdings in Hess Midstream Partners were worth $824,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust bought a new position in shares of Hess Midstream Partners during the 2nd quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Hess Midstream Partners in the fourth quarter valued at approximately $44,000. IFP Advisors Inc increased its position in shares of Hess Midstream Partners by 70.0% during the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after acquiring an additional 582 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in Hess Midstream Partners by 124.4% during the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after acquiring an additional 1,200 shares during the period. Finally, Geneos Wealth Management Inc. lifted 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 acquiring an additional 300 shares during the period. 98.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HESM has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. Morgan Stanley reissued an “underweight” rating and issued a $39.00 price target on shares of Hess Midstream Partners in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Hess Midstream Partners currently has a consensus rating of “Reduce” and a consensus price target of $37.67.

Hess Midstream Partners Trading Up 0.5%

NYSE:HESM opened at $40.03 on Friday. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $41.44. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 9.39. The firm’s 50 day moving average is $39.67 and its 200 day moving average is $38.98. The stock has a market capitalization of $8.25 billion, a PE ratio of 13.80 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data 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. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The business had revenue of $399.00 million during the quarter, compared to analyst estimates of $395.96 million. During the same period in the prior year, the company earned $0.74 earnings per share. Hess Midstream Partners’s revenue was down 3.7% compared to the same quarter last year. Sell-side analysts expect that Hess Midstream Partners LP will post 2.94 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, August 6th were issued a $0.7888 dividend. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $3.16 annualized dividend and a yield of 7.9%. Hess Midstream Partners’s payout ratio is 108.62%.

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.