Hess Midstream Partners LP (NYSE:HESM) Receives $42.00 Consensus Price Target from Analysts

Hess Midstream Partners LP (NYSE:HESM) has earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $42.00.

A number of equities analysts have commented on the stock. UBS Group restated a “neutral” rating and set a $43.00 price objective (down previously from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday, September 10th. Zacks Research upgraded shares of Hess Midstream Partners from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. JPMorgan Chase & Co. increased their price target on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. The Goldman Sachs Group initiated coverage on shares of Hess Midstream Partners in a report on Tuesday, September 30th. They issued a “neutral” rating and a $36.00 price target for the company. Finally, Citigroup lowered their price objective 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.

Hess Midstream Partners Stock Down 0.1%

Shares of Hess Midstream Partners stock opened at $32.73 on Thursday. The company has a market cap of $6.87 billion, a P/E ratio of 12.12 and a beta of 0.58. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. Hess Midstream Partners has a one year low of $31.63 and a one year high of $44.14. The firm has a fifty day moving average of $37.87 and a two-hundred day moving average of $38.27.

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

Hess Midstream Partners Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 annualized dividend and a dividend yield of 9.0%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.71. Hess Midstream Partners’s dividend payout ratio is 109.26%.

Insider Activity

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Hess Midstream Partners

Several hedge funds have recently modified their holdings of HESM. Farther Finance Advisors LLC boosted its stake in shares of Hess Midstream Partners by 840.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock worth $45,000 after purchasing an additional 941 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Hess Midstream Partners by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the company’s stock worth $615,000 after acquiring an additional 570 shares during the last quarter. PFG Investments LLC purchased a new stake in Hess Midstream Partners in the first quarter valued at approximately $202,000. FSC Wealth Advisors LLC acquired a new position in Hess Midstream Partners during the first quarter worth approximately $58,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in Hess Midstream Partners by 1.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 93,097 shares of the company’s stock worth $3,937,000 after purchasing an additional 1,356 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

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.