Hess Midstream Partners LP (NYSE:HESM) Receives Average Recommendation of “Reduce” from Analysts

Hess Midstream Partners LP (NYSE:HESM) has received an average recommendation of “Reduce” from the nine research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $38.8571.

Several research firms have weighed in on HESM. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. Morgan Stanley restated an “underweight” rating and set a $39.00 price target on shares of Hess Midstream Partners in a report on Tuesday. Finally, The Goldman Sachs Group downgraded shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target for the company. in a report on Monday, April 20th.

Institutional Investors Weigh In On Hess Midstream Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. acquired a new position in shares of Hess Midstream Partners in the 4th quarter valued at $92,288,000. Bank of New York Mellon Corp increased its position in shares of Hess Midstream Partners by 67.5% during the 1st quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock worth $145,840,000 after purchasing an additional 1,512,007 shares during the last quarter. Alps Advisors Inc. raised its holdings in Hess Midstream Partners by 3.4% in the 4th quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock valued at $1,045,457,000 after buying an additional 1,007,846 shares during the period. Lazard Asset Management LLC raised its holdings in Hess Midstream Partners by 1,110.7% in the 1st quarter. Lazard Asset Management LLC now owns 1,069,244 shares of the company’s stock valued at $41,562,000 after buying an additional 980,929 shares during the period. Finally, Balyasny Asset Management L.P. raised its holdings in Hess Midstream Partners by 179.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,209,075 shares of the company’s stock valued at $46,561,000 after buying an additional 776,924 shares during the period. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Up 0.5%

NYSE HESM opened at $40.67 on Friday. The business’s fifty day simple moving average is $38.77 and its 200-day simple moving average is $37.95. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97. The firm has a market cap of $8.38 billion, a PE ratio of 14.07 and a beta of 0.53. Hess Midstream Partners has a 52 week low of $31.63 and a 52 week high of $44.14.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The firm had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.51 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Hess Midstream Partners’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts anticipate that Hess Midstream Partners will post 2.87 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were paid a dividend of $0.7792 per share. This represents a $3.12 annualized dividend and a yield of 7.7%. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Thursday, May 7th. Hess Midstream Partners’s payout ratio is 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.