Wall Street Zen Upgrades Hess Midstream Partners (NYSE:HESM) to Buy

Hess Midstream Partners (NYSE:HESM) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

HESM has been the subject of a number of other reports. Wells Fargo & Company downgraded shares of Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a report on Friday, September 19th. JPMorgan Chase & Co. boosted their price objective on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. UBS Group reissued a “neutral” rating and set a $43.00 price objective (down from $45.00) on shares of Hess Midstream Partners in a research note on Wednesday, September 10th. The Goldman Sachs Group initiated coverage on shares of Hess Midstream Partners in a research note on Tuesday. They set a “neutral” rating and a $36.00 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $42.00.

Hess Midstream Partners Price Performance

Shares of NYSE:HESM opened at $34.40 on Friday. The company has a market cap of $7.23 billion, a P/E ratio of 12.74 and a beta of 0.58. 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 business has a fifty day simple moving average of $39.71 and a 200-day simple moving average of $39.00.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The business had revenue of $414.20 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 earnings per share. Equities research analysts forecast that Hess Midstream Partners will post 2.5 EPS for the current year.

Insider Buying and Selling

In related news, COO John A. Gatling sold 62,457 shares of the firm’s stock in a transaction on 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 legal filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of Hess Midstream Partners

Several hedge funds have recently made changes to their positions in HESM. GAMMA Investing LLC lifted its holdings in shares of Hess Midstream Partners by 4,809.7% in the 1st quarter. GAMMA Investing LLC now owns 11,587 shares of the company’s stock worth $4,900,000 after purchasing an additional 11,351 shares during the last quarter. Stokes Capital Advisors LLC lifted its stake in Hess Midstream Partners by 0.8% in the first quarter. Stokes Capital Advisors LLC now owns 149,974 shares of the company’s stock valued at $6,342,000 after buying an additional 1,212 shares during the last quarter. Capital Investment Advisors LLC bought a new stake in Hess Midstream Partners in the 1st quarter valued at about $217,000. Baldwin Wealth Partners LLC MA bought a new stake in Hess Midstream Partners in the 1st quarter valued at about $254,000. Finally, Farther Finance Advisors LLC lifted its position in Hess Midstream Partners by 840.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock valued at $45,000 after purchasing an additional 941 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

About Hess Midstream Partners

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.