Zacks Research Downgrades Hess Midstream Partners (NYSE:HESM) to Strong Sell

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

Several other equities analysts also recently commented on HESM. Citigroup lowered their target price on shares of Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, October 8th. UBS Group restated a “neutral” rating and issued a $43.00 price target (down previously from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday, September 10th. Morgan Stanley started coverage on shares of Hess Midstream Partners in a research report on Friday, July 25th. They issued an “equal weight” rating and a $48.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Hess Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $42.00.

Hess Midstream Partners Price Performance

HESM stock opened at $33.27 on Monday. Hess Midstream Partners has a one year low of $31.63 and a one year high of $44.14. The company’s fifty day moving average price is $37.53 and its 200-day moving average price is $38.19. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $6.99 billion, a PE ratio of 12.32 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The firm had revenue of $414.20 million for the quarter, compared to the consensus estimate of $405.08 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities analysts anticipate that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in Hess Midstream Partners during the second quarter valued at $50,000. Farther Finance Advisors LLC increased its position in Hess Midstream Partners by 124.4% during the second quarter. Farther Finance Advisors LLC now owns 2,363 shares of the company’s stock valued at $91,000 after acquiring an additional 1,310 shares during the last quarter. Fractal Investments LLC increased its position in Hess Midstream Partners by 23.8% during the second quarter. Fractal Investments LLC now owns 291,247 shares of the company’s stock valued at $11,216,000 after acquiring an additional 56,000 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Hess Midstream Partners in the first quarter worth about $707,000. Finally, Maryland State Retirement & Pension System grew its holdings in shares of Hess Midstream Partners by 21.7% in the second quarter. Maryland State Retirement & Pension System now owns 118,778 shares of the company’s stock worth $4,574,000 after purchasing an additional 21,176 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

About Hess Midstream Partners

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.