Hess Midstream Partners LP (NYSE:HESM) Receives Average Rating of “Hold” from Analysts

Shares of Hess Midstream Partners LP (NYSE:HESM) have earned an average recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $40.5714.

HESM has been the subject of a number of recent research reports. Wall Street Zen downgraded Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Zacks Research raised shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. The Goldman Sachs Group began coverage on shares of Hess Midstream Partners in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $36.00 price objective on the stock. Raymond James Financial restated an “outperform” rating and issued a $35.00 target price (down previously from $48.00) on shares of Hess Midstream Partners in a research report on Friday, October 24th. Finally, Citigroup cut their price target 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.

Hess Midstream Partners Price Performance

Shares of NYSE:HESM opened at $34.22 on Friday. The company has a market cap of $7.11 billion, a PE ratio of 12.13 and a beta of 0.62. Hess Midstream Partners has a fifty-two week low of $31.63 and a fifty-two week high of $44.14. The firm has a 50-day simple moving average of $33.42 and a 200 day simple moving average of $37.32. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 8.83.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Monday, November 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. Hess Midstream Partners had a net margin of 20.46% and a return on equity of 69.03%. The firm had revenue of $420.90 million for the quarter, compared to analysts’ expectations of $424.36 million. During the same quarter last year, the company posted $0.63 earnings per share. Hess Midstream Partners’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts anticipate that Hess Midstream Partners will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, November 6th were paid a dividend of $0.7548 per share. This represents a $3.02 annualized dividend and a yield of 8.8%. The ex-dividend date of this dividend was 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 (DPR) is presently 107.09%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Alps Advisors Inc. lifted its holdings in Hess Midstream Partners by 1.2% in the third quarter. Alps Advisors Inc. now owns 29,295,245 shares of the company’s stock worth $1,012,151,000 after purchasing an additional 338,729 shares during the period. Goldman Sachs Group Inc. boosted 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 acquiring an additional 655,062 shares in the last quarter. Invesco Ltd. increased its stake in shares of Hess Midstream Partners by 50.5% during the second quarter. Invesco Ltd. now owns 6,022,208 shares of the company’s stock valued at $231,915,000 after acquiring an additional 2,020,430 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Hess Midstream Partners by 9.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,503,752 shares of the company’s stock worth $232,754,000 after purchasing an additional 492,683 shares in the last quarter. Finally, Eagle Global Advisors LLC lifted its position in Hess Midstream Partners by 53.7% in the second quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company’s stock worth $94,497,000 after purchasing an additional 857,669 shares during the period. Institutional investors own 98.97% of the company’s stock.

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.