A. D. Beadell Investment Counsel Inc. Trims Stock Holdings in Hess Midstream Partners LP $HESM

A. D. Beadell Investment Counsel Inc. cut its holdings in Hess Midstream Partners LP (NYSE:HESM) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,910 shares of the company’s stock after selling 550 shares during the period. A. D. Beadell Investment Counsel Inc.’s holdings in Hess Midstream Partners were worth $1,113,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Hess Midstream Partners by 25.8% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 2,297,200 shares of the company’s stock valued at $88,465,000 after acquiring an additional 471,715 shares during the period. Farther Finance Advisors LLC raised its stake in Hess Midstream Partners by 124.4% in the second quarter. Farther Finance Advisors LLC now owns 2,363 shares of the company’s stock valued at $91,000 after purchasing an additional 1,310 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Hess Midstream Partners in the second quarter worth $30,735,000. Exchange Traded Concepts LLC increased its position in shares of Hess Midstream Partners by 11.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 140,512 shares of the company’s stock valued at $5,411,000 after purchasing an additional 13,869 shares during the last quarter. Finally, Chickasaw Capital Management LLC raised its stake in shares of Hess Midstream Partners by 36.4% during the second quarter. Chickasaw Capital Management LLC now owns 118,663 shares of the company’s stock worth $4,570,000 after acquiring an additional 31,663 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.

Insider Activity

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HESM shares. UBS Group reiterated a “neutral” rating and issued a $43.00 price objective (down previously from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. Wall Street Zen raised Hess Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. boosted their price objective on Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Wells Fargo & Company lowered Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research note on Friday, September 19th. Finally, Morgan Stanley began coverage on shares of Hess Midstream Partners in a research note on Friday, July 25th. They issued an “equal weight” rating and a $48.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $43.00.

Hess Midstream Partners Stock Performance

Shares of Hess Midstream Partners stock opened at $34.78 on Friday. Hess Midstream Partners LP has a 12 month low of $33.59 and a 12 month high of $44.14. The firm has a market capitalization of $7.31 billion, a P/E ratio of 12.88 and a beta of 0.68. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. The business has a fifty day simple moving average of $40.33 and a two-hundred day simple moving average of $39.29.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The firm had revenue of $414.20 million for the quarter, compared to analysts’ expectations of $405.08 million. During the same period in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities analysts forecast that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were paid a $0.737 dividend. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 7th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.5%. Hess Midstream Partners’s dividend payout ratio (DPR) is 109.26%.

Hess Midstream Partners Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.