Hess Midstream Partners LP (NYSE:HESM) Receives Average Rating of “Hold” from Analysts

Shares of Hess Midstream Partners LP (NYSE:HESM) have been assigned a consensus rating of “Hold” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $38.7143.

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group lowered Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target on the stock. in a report on Monday, April 20th. Wells Fargo & Company raised their price target on Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Morgan Stanley lowered their price target on Hess Midstream Partners from $42.00 to $38.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Finally, Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd.

Hess Midstream Partners Price Performance

HESM stock opened at $38.32 on Friday. The company has a market capitalization of $7.90 billion, a P/E ratio of 13.26 and a beta of 0.54. Hess Midstream Partners has a twelve month low of $31.63 and a twelve month high of $44.14. The business has a 50 day simple moving average of $38.93 and a 200-day simple moving average of $36.61. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $390.10 million for the quarter, compared to analyst estimates of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. Hess Midstream Partners’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. As a group, equities analysts anticipate that Hess Midstream Partners will post 2.99 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were issued a dividend of $0.7792 per share. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend was Thursday, May 7th. Hess Midstream Partners’s dividend payout ratio is 107.96%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. increased its stake in shares of Hess Midstream Partners by 3.4% during the fourth quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock worth $1,045,457,000 after acquiring an additional 1,007,846 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Hess Midstream Partners by 3.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock worth $313,301,000 after acquiring an additional 330,802 shares during the period. Invesco Ltd. increased its stake in shares of Hess Midstream Partners by 10.7% during the fourth quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock worth $228,385,000 after acquiring an additional 641,092 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Hess Midstream Partners during the 3rd quarter worth approximately $187,691,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Hess Midstream Partners by 67.5% during the 1st quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock worth $145,840,000 after buying an additional 1,512,007 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

About Hess Midstream Partners

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.