Hess Midstream Partners (HESM) Downgraded by Zacks Investment Research

Hess Midstream Partners (NYSE:HESM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

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. “

HESM has been the topic of several other research reports. BidaskClub upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 7th. Scotiabank set a $31.00 price target on shares of Hess Midstream Partners and gave the company a “buy” rating in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.83.

Hess Midstream Partners (NYSE HESM) traded down $0.09 on Friday, reaching $21.21. 122,865 shares of the company traded hands, compared to its average volume of 115,225. Hess Midstream Partners has a 52-week low of $18.32 and a 52-week high of $26.78.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $146.70 million for the quarter, compared to analyst estimates of $116.27 million. Hess Midstream Partners had a net margin of 28.19% and a return on equity of 6.64%. analysts expect that Hess Midstream Partners will post 1.01 EPS for the current year.

Several large investors have recently made changes to their positions in the business. Harvest Fund Advisors LLC increased its stake in shares of Hess Midstream Partners by 2.4% in the third quarter. Harvest Fund Advisors LLC now owns 2,850,448 shares of the company’s stock valued at $62,624,000 after purchasing an additional 67,210 shares during the period. FMR LLC acquired a new stake in shares of Hess Midstream Partners in the second quarter valued at approximately $54,210,000. Cohen & Steers Inc. increased its stake in shares of Hess Midstream Partners by 29.0% in the third quarter. Cohen & Steers Inc. now owns 1,727,200 shares of the company’s stock valued at $37,947,000 after purchasing an additional 388,552 shares during the period. NBW Capital LLC acquired a new stake in shares of Hess Midstream Partners in the second quarter valued at approximately $6,950,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Hess Midstream Partners in the second quarter valued at approximately $6,156,000. Institutional investors own 57.16% of the company’s stock.

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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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