Hess Midstream Partners LP (NASDAQ:HESM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Hess Midstream Partners LP is a master limited partnership company. It 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 operating segments consists of gathering; processing and storage and terminaling and export. Hess Midstream Partners LP is based in Houston, United States. “

A number of other equities research analysts have also weighed in on HESM. BidaskClub upgraded Hess Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Citigroup Inc. upgraded Hess Midstream Partners from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $28.00 to $25.00 in a research report on Friday, August 11th. Morgan Stanley lifted their price objective on Hess Midstream Partners from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, July 14th. Finally, Scotiabank set a $31.00 price objective on Hess Midstream Partners and gave the stock a “buy” rating in a research report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.83.

Shares of Hess Midstream Partners (NASDAQ HESM) traded down 0.37% during mid-day trading on Tuesday, reaching $21.38. The company had a trading volume of 120,259 shares. The stock has a 50 day moving average price of $21.80 and a 200 day moving average price of $22.31. The firm has a market capitalization of $1.17 billion and a PE ratio of 8.93. Hess Midstream Partners has a 12-month low of $18.33 and a 12-month high of $26.78.

Hess Midstream Partners (NASDAQ:HESM) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.21 earnings per share 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. Hess Midstream Partners had a return on equity of 3.23% and a net margin of 49.24%. On average, equities analysts forecast that Hess Midstream Partners will post $0.89 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC purchased a new stake in shares of Hess Midstream Partners in the second quarter worth approximately $54,210,000. Kayne Anderson Capital Advisors LP purchased a new stake in shares of Hess Midstream Partners in the second quarter worth approximately $17,335,000. Russell Investments Group Ltd. purchased a new stake in shares of Hess Midstream Partners in the second quarter worth approximately $7,013,000. NBW Capital LLC purchased a new stake in shares of Hess Midstream Partners in the second quarter worth approximately $6,950,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Hess Midstream Partners in the second quarter worth approximately $6,156,000.

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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Analyst Recommendations for Hess Midstream Partners (NASDAQ:HESM)

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