Hess Midstream Partners LP (HESM) to Distribute Quarterly Dividend of $0.80 on November 13th

Hess Midstream Partners LP (NYSE:HESM) declared a quarterly dividend on Monday, October 26th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.7985 per share on Friday, November 13th. This represents a $3.19 annualized dividend and a yield of 10.1%. The ex-dividend date is Thursday, November 5th. This is a 1.2% increase from Hess Midstream Partners’s previous quarterly dividend of $0.7888.

Hess Midstream Partners has increased its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Hess Midstream Partners has a payout ratio of 96.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Hess Midstream Partners to earn $2.93 per share next year, which means the company may not be able to cover its $3.15 annual dividend with an expected future payout ratio of 107.5%.

Hess Midstream Partners Price Performance

Shares of HESM opened at $31.61 on Wednesday. Hess Midstream Partners has a twelve month low of $29.52 and a twelve month high of $41.44. The company’s fifty day simple moving average is $36.97 and its 200-day simple moving average is $37.97.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $395.96 million. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 earnings per share. On average, research analysts expect that Hess Midstream Partners will post 3.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HESM. Bank of New York Mellon Corp raised its position in Hess Midstream Partners by 67.5% in the 1st quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock valued at $145,840,000 after purchasing an additional 1,512,007 shares in the last quarter. Miller Howard Investments Inc. NY boosted its holdings in shares of Hess Midstream Partners by 1.8% in the third quarter. Miller Howard Investments Inc. NY now owns 1,586,630 shares of the company’s stock valued at $59,292,000 after acquiring an additional 28,499 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Hess Midstream Partners by 1,110.7% during the first quarter. Lazard Asset Management LLC now owns 1,069,244 shares of the company’s stock worth $41,562,000 after buying an additional 980,929 shares during the last quarter. First Trust Advisors LP raised its position in Hess Midstream Partners by 34.9% during the 1st quarter. First Trust Advisors LP now owns 959,321 shares of the company’s stock worth $37,289,000 after buying an additional 247,973 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Hess Midstream Partners by 38.7% during the second quarter. Bank of America Corp DE now owns 446,037 shares of the company’s stock worth $16,771,000 after acquiring an additional 124,507 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

About Hess Midstream Partners

Hess Midstream Partners LP (NYSE:HESM) is a midstream energy company that owns and operates infrastructure supporting oil and gas production, primarily in the Bakken and Three Forks shale plays of North Dakota. The company provides essential services between the wellhead and downstream markets rather than exploring for or producing hydrocarbons itself.

Its operations include gathering, processing, storage and transportation services for crude oil, natural gas and natural gas liquids. Hess Midstream also provides produced-water gathering and disposal services, helping manage water generated during oil and gas production.