Envestnet Asset Management Inc. Trims Stock Holdings in Hess Midstream Partners LP $HESM

Envestnet Asset Management Inc. lowered its holdings in shares of Hess Midstream Partners LP (NYSE:HESM) by 31.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,579 shares of the company’s stock after selling 28,779 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Hess Midstream Partners were worth $2,410,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in shares of Hess Midstream Partners by 10.0% during the first quarter. Goldman Sachs Group Inc. now owns 7,233,773 shares of the company’s stock worth $305,916,000 after purchasing an additional 655,062 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Hess Midstream Partners by 9.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,503,752 shares of the company’s stock valued at $232,754,000 after buying an additional 492,683 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its position in Hess Midstream Partners by 10.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,885,110 shares of the company’s stock valued at $122,011,000 after buying an additional 276,779 shares during the period. Eagle Global Advisors LLC grew its stake in Hess Midstream Partners by 53.7% in the 2nd quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company’s stock worth $94,497,000 after acquiring an additional 857,669 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Hess Midstream Partners by 25.8% during the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 2,297,200 shares of the company’s stock worth $88,465,000 after acquiring an additional 471,715 shares during the period. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Trading Up 0.7%

Shares of NYSE HESM opened at $33.34 on Monday. Hess Midstream Partners LP has a 1-year low of $31.63 and a 1-year high of $44.14. The business has a fifty day moving average price of $34.82 and a 200 day moving average price of $37.79. The stock has a market capitalization of $6.92 billion, a P/E ratio of 11.82 and a beta of 0.62. The company has a debt-to-equity ratio of 8.83, a current ratio of 0.75 and a quick ratio of 0.75.

Hess Midstream Partners (NYSE:HESM) last announced its earnings results on Monday, November 3rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The business had revenue of $420.90 million during the quarter, compared to the consensus estimate of $424.36 million. Hess Midstream Partners had a net margin of 20.46% and a return on equity of 69.03%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. Equities research analysts expect that Hess Midstream Partners LP will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Thursday, November 6th were given a dividend of $0.7548 per share. The ex-dividend date of this dividend was Thursday, November 6th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.74. This represents a $3.02 dividend on an annualized basis and a dividend yield of 9.1%. Hess Midstream Partners’s payout ratio is currently 107.09%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HESM shares. JPMorgan Chase & Co. boosted their price target on Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Wall Street Zen cut Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group began coverage on Hess Midstream Partners in a research report on Tuesday, September 30th. They set a “neutral” rating and a $36.00 price target on the stock. Wells Fargo & Company downgraded Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a report on Friday, September 19th. Finally, Zacks Research cut shares of Hess Midstream Partners from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 20th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.57.

About Hess Midstream Partners

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.