Hess Midstream Partners (NYSE:HESM) Sets New 1-Year Low on Analyst Downgrade

Hess Midstream Partners LP (NYSE:HESM)’s share price hit a new 52-week low during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $37.00 to $33.00. Citigroup currently has a neutral rating on the stock. Hess Midstream Partners traded as low as $31.46 and last traded at $31.1340, with a volume of 222,391 shares changing hands. The stock had previously closed at $32.37.

A number of other equities analysts have also recently commented on HESM. JPMorgan Chase & Co. cut shares of Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 target price on the stock. in a research report on Friday, October 2nd. UBS Group cut their price target on shares of Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Monday, September 21st. Finally, Morgan Stanley reduced their price objective on Hess Midstream Partners from $39.00 to $30.00 and set an “underweight” rating on the stock in a research note on Tuesday. One investment 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. Based on data from MarketBeat.com, Hess Midstream Partners has a consensus rating of “Reduce” and an average price target of $34.71.

Institutional Trading of Hess Midstream Partners

Institutional investors have recently made changes to their positions in the stock. Palo Duro Investment Partners LP boosted its holdings in Hess Midstream Partners by 3.6% in the second quarter. Palo Duro Investment Partners LP now owns 10,309 shares of the company’s stock valued at $388,000 after acquiring an additional 363 shares in the last quarter. Sanctuary Advisors LLC increased its position in Hess Midstream Partners by 0.5% during the 2nd quarter. Sanctuary Advisors LLC now owns 82,818 shares of the company’s stock valued at $3,114,000 after purchasing an additional 408 shares during the period. Westover Capital Advisors LLC increased its position in Hess Midstream Partners by 0.7% during the 1st quarter. Westover Capital Advisors LLC now owns 95,993 shares of the company’s stock valued at $3,731,000 after purchasing an additional 638 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Hess Midstream Partners by 8.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,700 shares of the company’s stock worth $338,000 after purchasing an additional 699 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Hess Midstream Partners by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 108,105 shares of the company’s stock worth $4,065,000 after purchasing an additional 744 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Down 1.8%

The company’s fifty day simple moving average is $38.65 and its 200 day simple moving average is $38.75. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 9.39. The firm has a market capitalization of $6.32 billion, a P/E ratio of 10.57 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM) last announced its earnings results on Monday, August 3rd. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $399.00 million for the quarter, compared to analyst estimates of $395.96 million. During the same quarter in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. Research analysts expect that Hess Midstream Partners LP will post 3.13 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, August 6th were issued a $0.7888 dividend. This represents a $3.16 annualized dividend and a yield of 10.3%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.7792. The ex-dividend date was Thursday, August 6th. Hess Midstream Partners’s dividend payout ratio (DPR) is 108.62%.

Hess Midstream Partners Company Profile

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.