Hess Midstream Partners LP (NYSE:HESM) Receives $38.71 Consensus Price Target from Brokerages

Shares of Hess Midstream Partners LP (NYSE:HESM) have received an average recommendation of “Reduce” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $38.7143.

A number of analysts have recently commented on the company. Morgan Stanley lowered Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price target on the stock. in a research note on Wednesday, June 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. Finally, The Goldman Sachs Group lowered shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective for the company. in a report on Monday, April 20th.

Hess Midstream Partners Stock Down 0.4%

Shares of HESM opened at $40.17 on Friday. Hess Midstream Partners has a 52 week low of $31.63 and a 52 week high of $44.14. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 13.90 and a beta of 0.53. The company has a debt-to-equity ratio of 9.97, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a fifty day moving average of $38.67 and a 200-day moving average of $37.81.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The business had revenue of $390.10 million for the quarter, compared to analyst estimates of $389.51 million. During the same quarter in the previous year, the company posted $0.65 EPS. Hess Midstream Partners’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hess Midstream Partners will post 2.9 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were given a $0.7792 dividend. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. The ex-dividend date was Thursday, May 7th. This represents a $3.12 annualized dividend and a yield of 7.8%. Hess Midstream Partners’s dividend payout ratio is currently 107.96%.

Hedge Funds Weigh In On Hess Midstream Partners

Hedge funds have recently modified their holdings of the business. Grove Bank & Trust acquired a new stake in Hess Midstream Partners in the second quarter valued at $38,000. Caitong International Asset Management Co. Ltd bought a new position in Hess Midstream Partners during the 4th quarter worth $44,000. IFP Advisors Inc lifted its holdings in Hess Midstream Partners by 70.0% during the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock worth $49,000 after buying an additional 582 shares during the period. CENTRAL TRUST Co lifted its holdings in Hess Midstream Partners by 124.4% during the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after buying an additional 1,200 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds 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.