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

Hess Midstream Partners LP (NYSE:HESM) has been assigned a consensus rating of “Reduce” from the eight brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $37.6667.

Several research firms have recently weighed in on HESM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. Morgan Stanley reiterated an “underweight” rating and set a $39.00 price target on shares of Hess Midstream Partners in a research report on Tuesday, July 21st.

Hess Midstream Partners Price Performance

NYSE HESM opened at $40.03 on Friday. Hess Midstream Partners has a 52 week low of $31.63 and a 52 week high of $41.44. The firm’s 50-day simple moving average is $39.67 and its two-hundred day simple moving average is $38.98. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The company has a market cap of $8.25 billion, a PE ratio of 13.80 and a beta of 0.52.

Hess Midstream Partners (NYSE:HESM) last posted 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. The business had revenue of $399.00 million during the quarter, compared to analyst estimates of $395.96 million. Hess Midstream Partners had a return on equity of 92.18% and a net margin of 23.23%.The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS. Research analysts predict that Hess Midstream Partners will post 2.94 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, August 6th were given a dividend of $0.7888 per share. The ex-dividend date was Thursday, August 6th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a yield of 7.9%. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 108.97%.

Institutional Trading of Hess Midstream Partners

A number of hedge funds have recently made changes to their positions in HESM. Grove Bank & Trust purchased a new position in Hess Midstream Partners in the second quarter worth $38,000. Caitong International Asset Management Co. Ltd bought a new stake in Hess Midstream Partners during the fourth quarter worth about $44,000. IFP Advisors Inc boosted its holdings in shares of Hess Midstream Partners by 70.0% in the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock worth $49,000 after purchasing an additional 582 shares in the last quarter. CENTRAL TRUST Co increased its position in shares of Hess Midstream Partners by 124.4% during the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after buying an additional 300 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

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.