Hess Midstream Partners (NYSE:HESM) Posts Earnings Results

Hess Midstream Partners (NYSE:HESM) released its quarterly earnings data on Monday. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02, Zacks reports. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The firm had revenue of $420.90 million for the quarter, compared to analyst estimates of $424.36 million.

Hess Midstream Partners Stock Performance

Shares of HESM stock opened at $34.02 on Monday. The firm has a 50-day moving average of $36.34 and a 200-day moving average of $38.09. The company has a market cap of $7.15 billion, a P/E ratio of 12.60 and a beta of 0.58. The company has a debt-to-equity ratio of 7.26, a current ratio of 0.71 and a quick ratio of 0.71. Hess Midstream Partners has a one year low of $31.63 and a one year high of $44.14.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, November 6th will be issued a $0.7548 dividend. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.74. This represents a $3.02 annualized dividend and a dividend yield of 8.9%. The ex-dividend date is Thursday, November 6th. Hess Midstream Partners’s dividend payout ratio is currently 111.48%.

Analyst Ratings Changes

HESM has been the topic of a number of recent research reports. Zacks Research lowered shares of Hess Midstream Partners from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 20th. Wall Street Zen raised shares of Hess Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Wells Fargo & Company lowered shares of Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research note on Friday, September 19th. The Goldman Sachs Group began coverage on shares of Hess Midstream Partners in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $36.00 price objective on the stock. Finally, UBS Group reiterated a “neutral” rating and issued a $43.00 target price (down previously from $45.00) on shares of Hess Midstream Partners in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Hess Midstream Partners presently has an average rating of “Hold” and an average target price of $40.57.

Insider Transactions at Hess Midstream Partners

In related news, COO John A. Gatling sold 62,457 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Hess Midstream Partners

Several large investors have recently modified their holdings of the business. Royal Bank of Canada boosted its position in shares of Hess Midstream Partners by 33.7% in the first quarter. Royal Bank of Canada now owns 129,902 shares of the company’s stock valued at $5,494,000 after acquiring an additional 32,740 shares during the period. NewEdge Advisors LLC bought a new stake in Hess Midstream Partners during the first quarter valued at approximately $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Hess Midstream Partners by 20.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,741 shares of the company’s stock valued at $9,504,000 after purchasing an additional 37,794 shares during the last quarter. Geode Capital Management LLC lifted its position in Hess Midstream Partners by 21.6% during the second quarter. Geode Capital Management LLC now owns 5,778 shares of the company’s stock valued at $223,000 after purchasing an additional 1,026 shares during the last quarter. Finally, Creative Planning lifted its position in Hess Midstream Partners by 10.6% during the second quarter. Creative Planning now owns 8,596 shares of the company’s stock valued at $331,000 after purchasing an additional 826 shares during the last quarter. Hedge funds and other 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.