Hess Midstream Partners LP (NYSE:HESM) Receives $40.71 Consensus PT from Analysts

Hess Midstream Partners LP (NYSE:HESM) has earned a consensus recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $40.7143.

HESM has been the topic of a number of recent analyst reports. Raymond James Financial downgraded shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Weiss Ratings raised shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Wells Fargo & Company raised their price objective on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Finally, Zacks Research raised shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $39.60 on Friday. The stock’s 50-day simple moving average is $36.67 and its two-hundred day simple moving average is $35.43. Hess Midstream Partners has a twelve month low of $31.63 and a twelve month high of $44.14. The firm has a market capitalization of $8.23 billion, a P/E ratio of 13.85 and a beta of 0.60. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.54.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings results on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. The firm had revenue of $374.50 million during the quarter, compared to the consensus estimate of $419.16 million. Hess Midstream Partners had a return on equity of 74.89% and a net margin of 21.77%.The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. 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 declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Thursday, February 5th were given a dividend of $0.7641 per share. The ex-dividend date was Thursday, February 5th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.75. This represents a $3.06 dividend on an annualized basis and a yield of 7.7%. Hess Midstream Partners’s dividend payout ratio (DPR) is 106.99%.

Hedge Funds Weigh In On Hess Midstream Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in Hess Midstream Partners in the 4th quarter worth approximately $44,000. Invesco Ltd. grew its position in Hess Midstream Partners by 10.7% during the fourth quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock valued at $228,385,000 after acquiring an additional 641,092 shares during the last quarter. Alberta Investment Management Corp bought a new position in Hess Midstream Partners during the fourth quarter valued at approximately $4,814,000. Alpine Woods Capital Investors LLC purchased a new position in shares of Hess Midstream Partners during the fourth quarter worth approximately $3,081,000. Finally, NewEdge Advisors LLC raised its stake in shares of Hess Midstream Partners by 7,341.3% during the fourth quarter. NewEdge Advisors LLC now owns 5,953 shares of the company’s stock worth $205,000 after acquiring an additional 5,873 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other 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.