Hess Midstream Partners LP (NYSE:HESM) Receives $38.71 Consensus PT from Analysts

Hess Midstream Partners LP (NYSE:HESM) has earned a consensus rating of “Reduce” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Two 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 12 month target price among brokers that have covered the stock in the last year is $38.7143.

HESM has been the topic of several research analyst reports. Morgan Stanley lowered Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective on the stock. in a research note on Wednesday, June 10th. Wells Fargo & Company lifted their price objective on Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Zacks Research upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday. Finally, The Goldman Sachs Group lowered shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price on the stock. in a report on Monday, April 20th.

Hedge Funds Weigh In On Hess Midstream Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA purchased a new position in Hess Midstream Partners in the 1st quarter valued at about $470,000. Ritter Alpha LP purchased a new position in Hess Midstream Partners in the 1st quarter valued at about $249,000. Sunbelt Securities Inc. boosted its position in Hess Midstream Partners by 13,752.4% in the 1st quarter. Sunbelt Securities Inc. now owns 5,818 shares of the company’s stock valued at $226,000 after buying an additional 5,776 shares during the last quarter. Amundi boosted its position in Hess Midstream Partners by 148.7% in the 1st quarter. Amundi now owns 35,730 shares of the company’s stock valued at $1,389,000 after buying an additional 21,361 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Hess Midstream Partners by 19.9% in the 1st quarter. California State Teachers Retirement System now owns 135,137 shares of the company’s stock valued at $5,253,000 after buying an additional 22,457 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Stock Down 0.5%

Shares of HESM opened at $37.68 on Tuesday. The firm has a market cap of $7.77 billion, a PE ratio of 13.04 and a beta of 0.52. The company’s fifty day moving average is $38.41 and its two-hundred day moving average is $37.28. Hess Midstream Partners has a fifty-two week low of $31.63 and a fifty-two week high of $44.14. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $390.10 million for the quarter, compared to analyst estimates of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. Hess Midstream Partners’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $0.65 EPS. Analysts forecast that Hess Midstream Partners will post 2.99 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were given a dividend of $0.7792 per share. The ex-dividend date of this dividend was Thursday, May 7th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.3%. Hess Midstream Partners’s dividend payout ratio is presently 107.96%.

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.