Hess Midstream Partners LP (NYSE:HESM) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Hess Midstream Partners LP (NYSE:HESM) have been given an average rating of “Reduce” by the nine brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $40.5714.

Several brokerages have recently weighed in on HESM. Wall Street Zen downgraded Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Raymond James Financial cut shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hess Midstream Partners in a report on Monday, December 29th. The Goldman Sachs Group began coverage on shares of Hess Midstream Partners in a research note on Tuesday, September 30th. They set a “neutral” rating and a $36.00 target price for the company. Finally, Zacks Research upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th.

Hess Midstream Partners Price Performance

NYSE:HESM opened at $35.34 on Friday. Hess Midstream Partners has a 52 week low of $31.63 and a 52 week high of $44.14. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 8.83. The stock has a market capitalization of $7.34 billion, a PE ratio of 12.53 and a beta of 0.61. The stock’s 50-day moving average price is $34.00 and its 200-day moving average price is $36.33.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The company had revenue of $420.90 million during the quarter, compared to analysts’ expectations of $424.36 million. Hess Midstream Partners had a return on equity of 69.03% and a net margin of 20.46%.Hess Midstream Partners’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. As a group, equities analysts expect that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, November 6th were paid a dividend of $0.7548 per share. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.74. The ex-dividend date was Thursday, November 6th. This represents a $3.02 annualized dividend and a yield of 8.5%. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 107.09%.

Institutional Trading of Hess Midstream Partners

A number of institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its position in shares of Hess Midstream Partners by 33.7% during the first quarter. Royal Bank of Canada now owns 129,902 shares of the company’s stock worth $5,494,000 after purchasing an additional 32,740 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Hess Midstream Partners in the 1st quarter valued at $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Hess Midstream Partners by 20.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,741 shares of the company’s stock worth $9,504,000 after purchasing an additional 37,794 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Hess Midstream Partners by 124.4% during the second quarter. Farther Finance Advisors LLC now owns 2,363 shares of the company’s stock worth $91,000 after buying an additional 1,310 shares in the last quarter. Finally, Eagle Global Advisors LLC raised its position in shares of Hess Midstream Partners by 53.7% in the second quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company’s stock valued at $94,497,000 after buying an additional 857,669 shares during the last quarter. 98.97% of the stock is 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.