Wells Fargo & Company Forecasts Strong Price Appreciation for Hess Midstream Partners (NYSE:HESM) Stock

Hess Midstream Partners (NYSE:HESM) had its price objective upped by equities research analysts at Wells Fargo & Company from $39.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 2.42% from the stock’s previous close.

Several other analysts have also recently commented on HESM. Wall Street Zen cut shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Weiss Ratings upgraded Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, Raymond James Financial downgraded Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.71.

Hess Midstream Partners Price Performance

Hess Midstream Partners stock opened at $39.05 on Friday. Hess Midstream Partners has a 12-month low of $31.63 and a 12-month high of $44.14. The stock has a market capitalization of $8.11 billion, a P/E ratio of 13.66 and a beta of 0.60. The firm’s 50-day moving average is $36.44 and its two-hundred day moving average is $35.50. The company has a debt-to-equity ratio of 8.54, a current ratio of 0.85 and a quick ratio of 0.85.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings results on Monday, February 2nd. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. The business had revenue of $374.50 million during the quarter, compared to the consensus estimate of $419.16 million. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. Equities analysts predict that Hess Midstream Partners will post 2.5 earnings per share for the current year.

Hedge Funds Weigh In On Hess Midstream Partners

A number of large investors have recently bought and sold shares of HESM. Geneos Wealth Management Inc. grew its stake in shares of Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after buying an additional 300 shares during the period. Virtus Investment Advisers LLC increased its holdings in shares of Hess Midstream Partners by 7.6% during the 2nd quarter. Virtus Investment Advisers LLC now owns 4,456 shares of the company’s stock worth $172,000 after buying an additional 315 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in shares of Hess Midstream Partners by 1.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 25,766 shares of the company’s stock worth $889,000 after buying an additional 330 shares during the period. Farther Finance Advisors LLC raised its position in shares of Hess Midstream Partners by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company’s stock worth $93,000 after buying an additional 333 shares during the period. Finally, Investment Management Corp VA ADV boosted its holdings in Hess Midstream Partners by 3.0% in the fourth quarter. Investment Management Corp VA ADV now owns 12,519 shares of the company’s stock valued at $432,000 after acquiring an additional 362 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

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.