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

Hess Midstream Partners LP (NYSE:HESM) has received a consensus rating of “Hold” from the nine brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $40.5714.

HESM has been the topic of several recent research reports. Wall Street Zen lowered shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Raymond James Financial restated an “outperform” rating and set a $35.00 target price (down previously from $48.00) on shares of Hess Midstream Partners in a research report on Friday, October 24th. Wells Fargo & Company lowered shares of Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research report on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Hess Midstream Partners in a research note on Monday, December 22nd. Finally, Citigroup cut their price objective on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd.

Hess Midstream Partners Stock Performance

HESM opened at $34.27 on Tuesday. Hess Midstream Partners has a 1-year low of $31.63 and a 1-year high of $44.14. The stock has a market cap of $7.12 billion, a P/E ratio of 12.15 and a beta of 0.62. The stock’s 50 day simple moving average is $33.74 and its 200 day simple moving average is $36.84. The company has a debt-to-equity ratio of 8.83, a current ratio of 0.75 and a quick ratio of 0.75.

Hess Midstream Partners (NYSE:HESM) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $424.36 million. Hess Midstream Partners had a return on equity of 69.03% and a net margin of 20.46%.Hess Midstream Partners’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. As a group, equities analysts anticipate that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Thursday, November 6th were given a $0.7548 dividend. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.74. This represents a $3.02 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date of this dividend was Thursday, November 6th. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 107.09%.

Hedge Funds Weigh In On Hess Midstream Partners

Institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. raised 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 valued at $1,012,151,000 after buying an additional 338,729 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Hess Midstream Partners by 10.0% in the 1st 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 during the period. Invesco Ltd. lifted its holdings in shares of Hess Midstream Partners by 50.5% during the 2nd 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Hess Midstream Partners by 9.8% during the 1st 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 during the period. Finally, Eagle Global Advisors LLC increased its holdings in Hess Midstream Partners by 53.7% in the 2nd quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company’s stock valued at $94,497,000 after purchasing an additional 857,669 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.