Hess Midstream Partners (NYSE:HESM) Stock Price Target Lowered at Citigroup

Hess Midstream Partners (NYSE:HESM) had its target price cut by research analysts at Citigroup from $37.00 to $33.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 5.57% from the stock’s previous close.

HESM has been the subject of a number of other research reports. JPMorgan Chase & Co. downgraded shares of Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 price objective for the company. in a report on Friday, October 2nd. Morgan Stanley lowered their target price on shares of Hess Midstream Partners from $39.00 to $30.00 and set an “underweight” rating on the stock in a report on Tuesday. UBS Group lowered their target price on shares of Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Monday, September 21st. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Hess Midstream Partners currently has an average rating of “Reduce” and a consensus price target of $34.71.

Hess Midstream Partners Stock Performance

Shares of Hess Midstream Partners stock traded down $1.11 during trading on Tuesday, reaching $31.26. The company’s stock had a trading volume of 3,313,662 shares, compared to its average volume of 1,639,258. The business’s 50-day moving average price is $39.03 and its 200-day moving average price is $38.88. The firm has a market cap of $6.44 billion, a PE ratio of 10.78 and a beta of 0.58. Hess Midstream Partners has a 52 week low of $30.92 and a 52 week high of $41.44. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The business had revenue of $399.00 million for the quarter, compared to the consensus estimate of $395.96 million. During the same period in the prior year, the company posted $0.74 earnings per share. Hess Midstream Partners’s revenue was down 3.7% compared to the same quarter last year. Equities analysts forecast that Hess Midstream Partners will post 2.95 earnings per share for the current year.

Hedge Funds Weigh In On Hess Midstream Partners

A number of institutional investors have recently added to or reduced their stakes in the stock. Palo Duro Investment Partners LP lifted its stake in Hess Midstream Partners by 3.6% in the 2nd quarter. Palo Duro Investment Partners LP now owns 10,309 shares of the company’s stock valued at $388,000 after purchasing an additional 363 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Hess Midstream Partners by 0.5% during the second quarter. Sanctuary Advisors LLC now owns 82,818 shares of the company’s stock worth $3,114,000 after buying an additional 408 shares during the last quarter. Westover Capital Advisors LLC grew its stake in shares of Hess Midstream Partners by 0.7% during the first quarter. Westover Capital Advisors LLC now owns 95,993 shares of the company’s stock worth $3,731,000 after buying an additional 638 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Hess Midstream Partners by 8.7% during the first quarter. Sequoia Financial Advisors LLC now owns 8,700 shares of the company’s stock worth $338,000 after buying an additional 699 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Hess Midstream Partners by 0.7% during the second quarter. Legal & General Group Plc now owns 108,105 shares of the company’s stock worth $4,065,000 after buying an additional 744 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

About Hess Midstream Partners

Hess Midstream Partners LP (NYSE:HESM) is a fee-based midstream energy company that owns and operates infrastructure supporting crude oil, natural gas and produced-water production in the Bakken Shale of North Dakota. The partnership primarily serves Hess Corp. and other producers operating in the region.

Its assets include systems for gathering and processing natural gas, gathering and transporting crude oil, and handling and disposing of produced water. Hess Midstream also provides storage, terminal and transportation services, helping connect production sites with downstream pipelines, rail facilities and other market outlets.

The company was formed to own midstream assets previously developed or operated by Hess and began trading publicly in 2017.