Allianz Asset Management GmbH Decreases Position in Hess Midstream Partners LP $HESM

Allianz Asset Management GmbH trimmed its holdings in Hess Midstream Partners LP (NYSE:HESM) by 5.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 423,632 shares of the company’s stock after selling 23,168 shares during the quarter. Allianz Asset Management GmbH owned about 0.20% of Hess Midstream Partners worth $14,636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in shares of Hess Midstream Partners by 33.7% in the 1st quarter. Royal Bank of Canada now owns 129,902 shares of the company’s stock valued at $5,494,000 after buying an additional 32,740 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Hess Midstream Partners in the first quarter valued at $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Hess Midstream Partners by 20.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,741 shares of the company’s stock valued at $9,504,000 after acquiring an additional 37,794 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Hess Midstream Partners in the second quarter valued at $50,000. Finally, Turtle Creek Wealth Advisors LLC grew its holdings in shares of Hess Midstream Partners by 7.9% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 12,028 shares of the company’s stock worth $463,000 after purchasing an additional 877 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Stock Up 2.3%

Hess Midstream Partners stock opened at $35.72 on Friday. The stock has a 50 day moving average of $34.57 and a two-hundred day moving average of $36.09. Hess Midstream Partners LP has a twelve month low of $31.63 and a twelve month high of $44.14. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 12.49 and a beta of 0.62. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 8.83.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. Hess Midstream Partners had a return on equity of 73.17% and a net margin of 21.77%.The business had revenue of $374.50 million for the quarter, compared to analyst estimates of $419.16 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Hess Midstream Partners LP will post 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, February 5th will be given a dividend of $0.7641 per share. This represents a $3.06 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date is Thursday, February 5th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.75. Hess Midstream Partners’s payout ratio is currently 106.99%.

Wall Street Analyst Weigh In

HESM has been the subject of several research reports. Raymond James Financial downgraded Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hess Midstream Partners in a research report on Monday, December 29th. Zacks Research downgraded Hess Midstream Partners from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Finally, Wall Street Zen lowered shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Seven investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Hess Midstream Partners presently has a consensus rating of “Reduce” and an average target price of $40.57.

Hess Midstream Partners 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.