Analysts Set Hess Midstream Partners LP (NYSE:HESM) Target Price at $40.57

Hess Midstream Partners LP (NYSE:HESM) has earned an average recommendation of “Hold” from the nine research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $40.5714.

HESM has been the subject of a number of recent analyst reports. Wells Fargo & Company downgraded shares of Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research report on Friday, September 19th. Wall Street Zen raised Hess Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Citigroup dropped their price objective on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. Morgan Stanley assumed coverage on Hess Midstream Partners in a research report on Friday, July 25th. They issued an “equal weight” rating and a $48.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, October 8th.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $33.30 on Monday. The stock has a fifty day moving average price of $35.14 and a 200 day moving average price of $37.86. Hess Midstream Partners has a 1-year low of $31.63 and a 1-year high of $44.14. The company has a debt-to-equity ratio of 8.83, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $6.99 billion, a PE ratio of 11.81 and a beta of 0.62.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The company had revenue of $420.90 million during the quarter, compared to the consensus estimate of $424.36 million. Hess Midstream Partners had a net margin of 20.46% and a return on equity of 69.03%. Hess Midstream Partners’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Sell-side analysts forecast that Hess Midstream Partners will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Thursday, November 6th will be paid a $0.7548 dividend. This represents a $3.02 annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Thursday, November 6th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.74. Hess Midstream Partners’s dividend payout ratio is presently 107.09%.

Hedge Funds Weigh In On Hess Midstream Partners

Several large investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Hess Midstream Partners in the 2nd quarter valued at about $25,000. Marquette Asset Management LLC acquired a new stake in shares of Hess Midstream Partners in the third quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in Hess Midstream Partners in the first quarter valued at approximately $31,000. Ameritas Advisory Services LLC purchased a new stake in Hess Midstream Partners in the second quarter valued at approximately $50,000. Finally, CENTRAL TRUST Co increased its position in Hess Midstream Partners by 34.9% during the second quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock worth $59,000 after purchasing an additional 400 shares during the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

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.