Hess Midstream Partners LP (NYSE:HESM) has been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $27.83.
A number of brokerages have issued reports on HESM. BidaskClub raised Hess Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 7th. Citigroup raised Hess Midstream Partners from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $28.00 to $25.00 in a report on Friday, August 11th. Zacks Investment Research downgraded Hess Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Morgan Stanley raised Hess Midstream Partners from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $25.00 to $26.00 in a report on Wednesday, August 30th. Finally, Scotiabank set a $31.00 price target on Hess Midstream Partners and gave the stock a “buy” rating in a report on Monday.
Several institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in shares of Hess Midstream Partners during the third quarter worth about $292,000. Cohen & Steers Inc. increased its position in shares of Hess Midstream Partners by 29.0% during the third quarter. Cohen & Steers Inc. now owns 1,727,200 shares of the company’s stock worth $37,947,000 after purchasing an additional 388,552 shares in the last quarter. AMP Capital Investors Ltd increased its position in shares of Hess Midstream Partners by 33.8% during the third quarter. AMP Capital Investors Ltd now owns 27,465 shares of the company’s stock worth $603,000 after purchasing an additional 6,932 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of Hess Midstream Partners during the third quarter worth about $2,211,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Hess Midstream Partners by 2.7% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 291,164 shares of the company’s stock worth $6,397,000 after purchasing an additional 7,548 shares in the last quarter. Institutional investors and hedge funds own 57.16% of the company’s stock.
Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. The company had revenue of $146.70 million during the quarter, compared to the consensus estimate of $116.27 million. Hess Midstream Partners had a return on equity of 6.64% and a net margin of 28.19%. sell-side analysts predict that Hess Midstream Partners will post 1.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Friday, November 3rd were issued a dividend of $0.3107 per share. This represents a $1.24 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date of this dividend was Thursday, November 2nd.
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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