Hess Midstream Partners LP (NYSE:HESM) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Hess Midstream Partners LP (NYSE:HESM) have been given an average recommendation of “Reduce” by the nine analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $38.7143.

Several equities research analysts recently weighed in on HESM shares. Zacks Research upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Weiss Ratings upgraded shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Wells Fargo & Company boosted their price target on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Morgan Stanley cut shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price target on the stock. in a research report on Wednesday, June 10th. Finally, The Goldman Sachs Group cut shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target on the stock. in a research report on Monday, April 20th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Citigroup Inc. increased its position in Hess Midstream Partners by 449.9% during the third quarter. Citigroup Inc. now owns 228,779 shares of the company’s stock valued at $7,904,000 after acquiring an additional 187,179 shares during the last quarter. JPMorgan Chase & Co. increased its position in Hess Midstream Partners by 179.3% during the third quarter. JPMorgan Chase & Co. now owns 2,269,146 shares of the company’s stock valued at $78,399,000 after acquiring an additional 1,456,627 shares during the last quarter. Campbell Capital Management Inc. bought a new position in Hess Midstream Partners during the third quarter valued at $1,130,000. American Century Companies Inc. increased its position in Hess Midstream Partners by 13.0% during the third quarter. American Century Companies Inc. now owns 696,628 shares of the company’s stock valued at $24,068,000 after acquiring an additional 79,913 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Hess Midstream Partners during the third quarter valued at $187,691,000. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Trading Up 1.1%

Shares of HESM opened at $37.21 on Tuesday. The company’s fifty day moving average is $38.45 and its 200 day moving average is $37.21. Hess Midstream Partners has a fifty-two week low of $31.63 and a fifty-two week high of $44.14. The stock has a market capitalization of $7.67 billion, a PE ratio of 12.87 and a beta of 0.52. The company has a debt-to-equity ratio of 9.97, a quick ratio of 0.92 and a current ratio of 0.92.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The company had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $389.51 million. During the same quarter in the previous year, the business posted $0.65 earnings per share. Hess Midstream Partners’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts expect that Hess Midstream Partners will post 2.99 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were given a dividend of $0.7792 per share. This represents a $3.12 dividend on an annualized basis and a yield of 8.4%. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. The ex-dividend date was Thursday, May 7th. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 107.96%.

Hess Midstream Partners Company Profile

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.