Hess Midstream Partners (NYSE:HESM) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Hess Midstream Partners (NYSE:HESM) from a strong-buy rating to a strong sell rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other brokerages have also issued reports on HESM. Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, October 8th. Wall Street Zen upgraded Hess Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Wells Fargo & Company downgraded Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a report on Friday, September 19th. UBS Group restated a “neutral” rating and set a $43.00 target price (down from $45.00) on shares of Hess Midstream Partners in a research note on Wednesday, September 10th. Finally, Citigroup decreased their price objective on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Hess Midstream Partners presently has a consensus rating of “Hold” and an average target price of $42.00.

Hess Midstream Partners Price Performance

Shares of Hess Midstream Partners stock opened at $33.76 on Monday. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 12.50 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. The stock has a 50 day moving average price of $37.36 and a 200-day moving average price of $38.16. Hess Midstream Partners has a one year low of $31.63 and a one year high of $44.14.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The firm had revenue of $414.20 million during the quarter, compared to analyst estimates of $405.08 million. During the same period last year, the company earned $0.59 EPS. Hess Midstream Partners’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities 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. Stockholders of record on Thursday, August 7th were given a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.7%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 7th. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 109.26%.

Insider Activity

In other news, COO John A. Gatling sold 62,457 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Hess Midstream Partners

Large investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Hess Midstream Partners in the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Hess Midstream Partners in the first quarter valued at approximately $31,000. Ameritas Advisory Services LLC acquired a new position in Hess Midstream Partners in the second quarter valued at approximately $50,000. CENTRAL TRUST Co lifted its holdings in Hess Midstream Partners by 34.9% in the second quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock valued at $59,000 after acquiring an additional 400 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Hess Midstream Partners by 124.4% in the second quarter. Farther Finance Advisors LLC now owns 2,363 shares of the company’s stock valued at $91,000 after acquiring an additional 1,310 shares during the last quarter. 98.97% of the stock is currently owned by hedge funds and other 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.