Hess Midstream Partners (NYSE:HESM) Upgraded at Zacks Research

Zacks Research upgraded shares of Hess Midstream Partners (NYSE:HESM) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also weighed in on HESM. The Goldman Sachs Group started coverage on shares of Hess Midstream Partners in a research report on Tuesday. They issued a “neutral” rating and a $36.00 price target for the company. 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. Morgan Stanley initiated coverage on shares of Hess Midstream Partners in a report on Friday, July 25th. They issued an “equal weight” rating and a $48.00 target price for the company. JPMorgan Chase & Co. raised their price target on Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Finally, Wells Fargo & Company downgraded Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research report on Friday, September 19th. One equities 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 given a Sell rating to the company. According to MarketBeat, Hess Midstream Partners currently has a consensus rating of “Hold” and an average target price of $42.00.

Hess Midstream Partners Stock Performance

Shares of HESM opened at $34.71 on Monday. The business has a 50-day simple moving average of $39.93 and a two-hundred day simple moving average of $39.12. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. Hess Midstream Partners has a 52 week low of $33.59 and a 52 week high of $44.14. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 12.85 and a beta of 0.58.

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

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a $0.737 dividend. This represents a $2.95 annualized dividend and a yield of 8.5%. The ex-dividend date was Thursday, August 7th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.71. Hess Midstream Partners’s dividend payout ratio is presently 109.26%.

Insider Activity at Hess Midstream Partners

In other news, COO John A. Gatling sold 62,457 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was 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 accessible through this hyperlink.

Hedge Funds Weigh In On Hess Midstream Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fractal Investments LLC grew 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 in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Hess Midstream Partners during the 1st quarter valued at approximately $707,000. Goldman Sachs Group Inc. grew its holdings 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 purchasing an additional 655,062 shares in the last quarter. Zimmer Partners LP grew its holdings in shares of Hess Midstream Partners by 16.4% in the first quarter. Zimmer Partners LP now owns 736,240 shares of the company’s stock valued at $31,136,000 after purchasing an additional 103,924 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in Hess Midstream Partners by 11.1% in 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 last quarter. 98.97% of the stock is owned by institutional investors.

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.