Hess Midstream Partners said on January 23, 2023 that its board of directors declared a regular quarterly dividend of $0.57 per share ($2.28 annualized). Shareholders of record as of February 1, 2023 will receive the payment on February 13, 2023. Previously, the company paid $0.56 per share.

At the most recent share price of $31.17 / share, the stock’s dividend yield was 7.31%. Additionally, the company’s dividend payout ratio is 1.19, indicating it is paying out in dividends more than it makes in income. This is not sustainable over the long term.

The company’s 3-Year dividend growth rate is 0.34%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 11.26% Upside

As of January 26, 2023, the average one-year price target for Hess Midstream Partners is $34.68. The forecasts range from a low of $31.31 to a high of $37.80. The average price target represents an increase of 11.26% from its latest reported closing price of $31.17.

The projected annual revenue for Hess Midstream Partners is $1,316MM, an increase of 3.20%. The projected annual EPS is $2.50, an increase of 22.98%.

Fund Sentiment

There are 241 funds or institutions reporting positions in Hess Midstream Partners. This is a decrease of 3 owner(s) or 1.23%.

Average portfolio weight of all funds dedicated to US:HESM is 0.5907%, an increase of 5.1963%. Total shares owned by institutions increased in the last three months by 5.81% to 56,951K shares.

What are large shareholders doing?

AMLP – ALERIAN MLP ETF holds 7,541,239 shares representing 17.14% ownership of the company. In it’s prior filing, the firm reported owning 4,964,246 shares, representing an increase of 34.17%. The firm increased its portfolio allocation in HESM by 37.38% over the last quarter.

Alps Advisors holds 6,202,117 shares representing 14.09% ownership of the company. In it’s prior filing, the firm reported owning 7,588,923 shares, representing a decrease of 22.36%. The firm decreased its portfolio allocation in HESM by 28.38% over the last quarter.

Energy Income Partners holds 3,168,911 shares representing 7.20% ownership of the company. In it’s prior filing, the firm reported owning 3,079,291 shares, representing an increase of 2.83%. The firm decreased its portfolio allocation in HESM by 47.22% over the last quarter.

Ci Investments holds 2,881,516 shares representing 6.55% ownership of the company. In it’s prior filing, the firm reported owning 2,927,313 shares, representing a decrease of 1.59%. The firm decreased its portfolio allocation in HESM by 20.67% over the last quarter.

Invesco holds 2,123,152 shares representing 4.83% ownership of the company. In it’s prior filing, the firm reported owning 2,057,582 shares, representing an increase of 3.09%. The firm decreased its portfolio allocation in HESM by 90.75% over the last quarter.

Hess Midstream Background Information
(This description is provided by the company.)

Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.

This article originally appeared on Fintel

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