Hess Midstream Partners (NYSE:HESM) Announces Earnings Results, Beats Expectations By $0.08 EPS

Hess Midstream Partners (NYSE:HESM) posted its earnings results on Monday. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08, Briefing.com reports. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. During the same quarter in the prior year, the business earned $0.74 EPS. Hess Midstream Partners’s revenue for the quarter was down 3.7% on a year-over-year basis.

Hess Midstream Partners Stock Performance

HESM opened at $40.94 on Monday. 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 stock’s 50 day moving average price is $38.76 and its two-hundred day moving average price is $38.21. The firm has a market capitalization of $8.44 billion, a P/E ratio of 14.16 and a beta of 0.53. Hess Midstream Partners has a 12-month low of $31.63 and a 12-month high of $44.14.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, August 6th will be paid a dividend of $0.7888 per share. This represents a $3.16 annualized dividend and a yield of 7.7%. The ex-dividend date is Thursday, August 6th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.78. Hess Midstream Partners’s dividend payout ratio is currently 109.00%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th. The Goldman Sachs Group lowered Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price for the company. in a report on Monday, April 20th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $39.00 target price on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $38.86.

Institutional Investors Weigh In On Hess Midstream Partners

Several hedge funds and other institutional investors have recently modified their holdings of HESM. Geneos Wealth Management Inc. increased its position in Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after acquiring an additional 300 shares during the period. Larson Financial Group LLC raised its position in shares of Hess Midstream Partners by 668.5% during the third quarter. Larson Financial Group LLC now owns 3,074 shares of the company’s stock valued at $106,000 after buying an additional 2,674 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Hess Midstream Partners during the third quarter valued at about $160,000. US Bancorp DE bought a new stake in shares of Hess Midstream Partners in the third quarter valued at about $173,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Hess Midstream Partners in the fourth quarter valued at about $174,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

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.