$115.50 Million in Sales Expected for Hess Midstream Partners LP (HESM) This Quarter
Wall Street analysts expect that Hess Midstream Partners LP (NASDAQ:HESM) will report sales of $115.50 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Hess Midstream Partners’ earnings. The highest sales estimate is $131.60 million and the lowest is $99.39 million. The firm is expected to issue its next earnings results on Thursday, October 26th.
On average, analysts expect that Hess Midstream Partners will report full year sales of $115.50 million for the current fiscal year, with estimates ranging from $388.40 million to $551.71 million. For the next fiscal year, analysts expect that the business will report sales of $560.82 million per share, with estimates ranging from $462.46 million to $641.79 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Hess Midstream Partners.
Hess Midstream Partners (NASDAQ:HESM) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.02. The business had revenue of $138.30 million during the quarter, compared to the consensus estimate of $111.37 million.
HESM has been the subject of a number of research reports. Zacks Investment Research upgraded Hess Midstream Partners from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Scotiabank set a $31.00 target price on shares of Hess Midstream Partners and gave the stock a “buy” rating in a report on Saturday, July 22nd. Morgan Stanley raised their target price on shares of Hess Midstream Partners from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, July 14th. Citigroup Inc. started coverage on Hess Midstream Partners in a report on Tuesday, May 2nd. They set a “neutral” rating and a $28.00 price target on the stock. Finally, Goldman Sachs Group, Inc. (The) started coverage on Hess Midstream Partners in a report on Monday, May 1st. They set a “buy” rating and a $32.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $28.33.
Institutional investors have recently bought and sold shares of the stock. Spirit of America Management Corp NY acquired a new stake in Hess Midstream Partners during the second quarter valued at about $3,111,000. Russell Investments Group Ltd. acquired a new stake in Hess Midstream Partners during the second quarter valued at about $7,013,000. Acadian Asset Management LLC purchased a new position in Hess Midstream Partners during the second quarter worth $119,000. Kornitzer Capital Management Inc. KS purchased a new position in Hess Midstream Partners during the second quarter worth $735,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in Hess Midstream Partners during the second quarter worth $2,536,000.
Shares of Hess Midstream Partners (NASDAQ HESM) opened at 20.20 on Monday. The firm’s 50-day moving average price is $19.61 and its 200-day moving average price is $22.63. The stock has a market capitalization of $1.10 billion and a P/E ratio of 8.07. Hess Midstream Partners has a one year low of $18.62 and a one year high of $26.78.
The business also recently declared a special dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, August 4th will be issued a dividend of $0.2703 per share. The ex-dividend date is Wednesday, August 2nd.
Hess Midstream Partners Company Profile
Hess Midstream Partners LP is a fee-based, traditional master limited partnership formed to own, operate, develop and acquire a set of midstream assets to provide services to Hess and third-party crude oil and natural gas producers. The Company’s assets are primarily located in the Bakken and Three Forks shale plays in the Williston Basin area of North Dakota (collectively referred as the Bakken).
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