Hess Midstream Partners (NYSE:HESM) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Hess Midstream Partners (NYSE:HESM) to a hold rating in a research report released on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the company. UBS Group restated a “neutral” rating and issued a $43.00 target price (down from $45.00) on shares of Hess Midstream Partners in a research note on Wednesday, September 10th. Wells Fargo & Company lowered Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a report on Friday, September 19th. Citigroup lowered their target price on shares of Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. lifted their target price on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Finally, Wall Street Zen lowered shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.00.

Hess Midstream Partners Stock Performance

NYSE HESM opened at $34.71 on Monday. Hess Midstream Partners has a 1 year low of $33.59 and a 1 year high of $44.14. The company has a debt-to-equity ratio of 7.26, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $7.29 billion, a PE ratio of 12.85 and a beta of 0.58. The company’s 50 day simple moving average is $39.93 and its two-hundred day simple moving average is $39.12.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $405.08 million. During the same period in the previous year, the business earned $0.59 EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts predict that Hess Midstream Partners will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were paid a $0.737 dividend. This is a positive change 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 8.5%. Hess Midstream Partners’s dividend payout ratio is currently 109.26%.

Insider Activity at Hess Midstream Partners

In related 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 value of $2,597,586.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fractal Investments LLC raised its holdings in Hess Midstream Partners by 23.8% during the 2nd quarter. Fractal Investments LLC now owns 291,247 shares of the company’s stock valued at $11,216,000 after buying an additional 56,000 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Hess Midstream Partners in the first quarter valued at about $707,000. Goldman Sachs Group Inc. increased its position in shares of Hess Midstream Partners by 10.0% in the first quarter. Goldman Sachs Group Inc. now owns 7,233,773 shares of the company’s stock valued at $305,916,000 after acquiring an additional 655,062 shares during the period. Zimmer Partners LP raised its stake in shares of Hess Midstream Partners by 16.4% during the first quarter. Zimmer Partners LP now owns 736,240 shares of the company’s stock valued at $31,136,000 after acquiring an additional 103,924 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Hess Midstream Partners by 11.1% during the first quarter. Advisors Asset Management Inc. now owns 80,750 shares of the company’s stock worth $3,415,000 after purchasing an additional 8,083 shares during the period. Institutional investors 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.