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

Hess Midstream Partners (NYSE:HESM) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on HESM. Wall Street Zen cut Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings upgraded Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Finally, Raymond James Financial cut shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.57.

Hess Midstream Partners Price Performance

Shares of Hess Midstream Partners stock opened at $39.55 on Monday. The company’s fifty day simple moving average is $35.71 and its two-hundred day simple moving average is $35.58. Hess Midstream Partners has a 12-month low of $31.63 and a 12-month high of $44.14. The firm has a market cap of $8.21 billion, a PE ratio of 13.83 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 posted its earnings results on Monday, February 2nd. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. The company had revenue of $374.50 million during the quarter, compared to analyst estimates of $419.16 million. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. Hess Midstream Partners’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, equities analysts expect that Hess Midstream Partners will post 2.5 EPS for the current year.

Institutional Investors Weigh In On Hess Midstream Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strategic Advocates LLC purchased a new position in Hess Midstream Partners during the third quarter valued at $28,000. Marquette Asset Management LLC bought a new position in shares of Hess Midstream Partners in the 3rd quarter worth about $30,000. Caitong International Asset Management Co. Ltd purchased a new position in Hess Midstream Partners during the 4th quarter valued at about $44,000. IFP Advisors Inc lifted its position in Hess Midstream Partners by 70.0% during the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after acquiring an additional 582 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in Hess Midstream Partners by 34.9% during the second quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock worth $59,000 after acquiring an additional 400 shares in the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Company Profile

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.