Hess Midstream Partners LP (HESM) Upgraded to “Buy” at Citigroup Inc.
Hess Midstream Partners LP (NASDAQ:HESM) was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has a $25.00 price target on the stock, down from their prior price target of $28.00. Citigroup Inc.’s target price would suggest a potential upside of 30.14% from the company’s previous close.
A number of other research analysts have also recently commented on the company. Zacks Investment Research raised Hess Midstream Partners from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Scotiabank set a $31.00 price objective on Hess Midstream Partners and gave the stock a “buy” rating in a report on Friday, May 19th. J P Morgan Chase & Co started coverage on Hess Midstream Partners in a report on Monday, May 1st. They set an “overweight” rating and a $30.00 price objective on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on Hess Midstream Partners in a report on Monday, May 1st. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Morgan Stanley boosted their target price on Hess Midstream Partners from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, July 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $27.83.
Shares of Hess Midstream Partners (NASDAQ:HESM) traded up 2.18% during trading on Friday, hitting $19.21. 117,184 shares of the stock were exchanged. The firm has a 50 day moving average price of $19.41 and a 200 day moving average price of $22.42. The firm has a market capitalization of $1.05 billion and a P/E ratio of 7.68. Hess Midstream Partners has a 52 week low of $18.33 and a 52 week high of $26.78.
Hess Midstream Partners (NASDAQ:HESM) last released 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 analyst estimates of $111.37 million. Analysts forecast that Hess Midstream Partners will post $0.98 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC bought a new stake in Hess Midstream Partners during the second quarter valued at approximately $54,210,000. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Hess Midstream Partners during the second quarter valued at approximately $17,335,000. Russell Investments Group Ltd. acquired a new stake in shares of Hess Midstream Partners during the second quarter valued at approximately $7,013,000. Atlantic Trust Group LLC acquired a new stake in shares of Hess Midstream Partners during the second quarter valued at approximately $5,853,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Hess Midstream Partners during the second quarter valued at approximately $5,777,000.
About Hess Midstream Partners
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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