Hess Midstream Partners (NYSE:HESM) Receives Neutral Rating from Citigroup

Citigroup restated their neutral rating on shares of Hess Midstream Partners (NYSE:HESM) in a report issued on Thursday,Benzinga reports. They currently have a $41.00 target price on the stock, down from their previous target price of $42.00.

Several other research firms have also recently weighed in on HESM. Wall Street Zen upgraded shares of Hess Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. UBS Group reiterated a “neutral” rating and set a $43.00 price objective (down from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday. Morgan Stanley started coverage on shares of Hess Midstream Partners in a research report on Friday, July 25th. They set an “equal weight” rating and a $48.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.17.

Hess Midstream Partners Trading Up 0.6%

Hess Midstream Partners stock opened at $39.76 on Thursday. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 14.72 and a beta of 0.68. Hess Midstream Partners has a 1 year low of $33.59 and a 1 year high of $44.14. The firm’s 50 day moving average price is $40.53 and its two-hundred day moving average price is $39.53.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The firm had revenue of $414.20 million for the quarter, compared to analyst estimates of $405.08 million. During the same quarter in the previous year, the business posted $0.59 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts predict that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a dividend of $0.737 per share. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 7.4%. Hess Midstream Partners’s dividend payout ratio (DPR) is 109.26%.

Insider Activity

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of Hess Midstream Partners stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Hess Midstream Partners

Several institutional investors and hedge funds have recently modified their holdings of HESM. Alps Advisors Inc. lifted its stake in shares of Hess Midstream Partners by 31.1% in the 1st quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company’s stock valued at $1,114,605,000 after purchasing an additional 6,251,664 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Hess Midstream Partners by 50.5% in the 2nd quarter. Invesco Ltd. now owns 6,022,208 shares of the company’s stock valued at $231,915,000 after purchasing an additional 2,020,430 shares during the last quarter. Artemis Investment Management LLP lifted its stake in shares of Hess Midstream Partners by 131.4% in the 1st quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company’s stock valued at $83,288,000 after purchasing an additional 1,118,245 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Hess Midstream Partners by 92.4% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,096,560 shares of the company’s stock valued at $80,739,000 after purchasing an additional 1,006,998 shares during the last quarter. Finally, Eagle Global Advisors LLC lifted its stake in shares of Hess Midstream Partners by 53.7% in the 2nd quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company’s stock valued at $94,497,000 after purchasing an additional 857,669 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.