Hess Midstream Partners (NYSE:HESM) Upgraded at Zacks Research

Zacks Research upgraded shares of Hess Midstream Partners (NYSE:HESM) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

HESM has been the topic of a number of other research reports. Raymond James Financial lowered shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Wall Street Zen lowered Hess Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Hess Midstream Partners has an average rating of “Hold” and a consensus target price of $40.57.

Hess Midstream Partners Price Performance

NYSE:HESM opened at $39.10 on Monday. Hess Midstream Partners has a 52-week low of $31.63 and a 52-week high of $44.14. The stock has a fifty day moving average of $35.80 and a 200 day moving average of $35.61. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 13.67 and a beta of 0.60.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Monday, February 2nd. The company reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. Hess Midstream Partners had a return on equity of 74.89% and a net margin of 21.77%.The firm had revenue of $374.50 million for the quarter, compared to analysts’ expectations of $419.16 million. During the same quarter last year, the firm posted $0.68 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts expect 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, February 13th. Shareholders of record on Thursday, February 5th were given a $0.7641 dividend. This represents a $3.06 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date was Thursday, February 5th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.75. Hess Midstream Partners’s dividend payout ratio is 106.99%.

Institutional Trading of Hess Midstream Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strategic Advocates LLC bought a new position in shares of Hess Midstream Partners in the 3rd quarter worth about $28,000. Marquette Asset Management LLC acquired a new position in Hess Midstream Partners in the third quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hess Midstream Partners during the 4th quarter worth approximately $44,000. IFP Advisors Inc grew its position in shares of 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. Finally, CENTRAL TRUST Co increased its stake in shares of Hess Midstream Partners by 34.9% in the 2nd quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock valued at $59,000 after acquiring an additional 400 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

About Hess Midstream Partners

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.