Epoch Investment Partners Inc. Decreases Stock Position in Hess Midstream Partners LP $HESM

Epoch Investment Partners Inc. decreased its position in shares of Hess Midstream Partners LP (NYSE:HESM) by 16.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,081,821 shares of the company’s stock after selling 418,777 shares during the period. Epoch Investment Partners Inc. owned approximately 1.00% of Hess Midstream Partners worth $80,920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. lifted its stake in Hess Midstream Partners by 3.4% in the fourth quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock worth $1,045,457,000 after purchasing an additional 1,007,846 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Hess Midstream Partners by 3.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock valued at $313,301,000 after buying an additional 330,802 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Hess Midstream Partners by 10.7% in the fourth quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock worth $228,385,000 after buying an additional 641,092 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Hess Midstream Partners by 67.5% in the first quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock worth $145,840,000 after buying an additional 1,512,007 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Hess Midstream Partners during the 4th quarter worth approximately $92,288,000. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Performance

Shares of Hess Midstream Partners stock opened at $40.67 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97. The stock’s fifty day moving average price is $38.77 and its 200-day moving average price is $37.95. The firm has a market cap of $8.38 billion, a P/E ratio of 14.07 and a beta of 0.53. Hess Midstream Partners LP has a 12 month low of $31.63 and a 12 month high of $44.14.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. The business had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 EPS. On average, equities research analysts expect that Hess Midstream Partners LP will post 2.87 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were given a dividend of $0.7792 per share. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $3.12 annualized dividend and a yield of 7.7%. Hess Midstream Partners’s payout ratio is 107.96%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Morgan Stanley restated an “underweight” rating and set a $39.00 price objective on shares of Hess Midstream Partners in a report on Tuesday. The Goldman Sachs Group cut shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective for the company. in a research report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price 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.