Hess Midstream Partners (NYSE:HESM) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Hess Midstream Partners LP (NYSE:HESM)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $39.15 and traded as low as $39.10. Hess Midstream Partners shares last traded at $39.17, with a volume of 1,082,273 shares trading hands.

Wall Street Analysts Forecast Growth

HESM has been the topic of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. Morgan Stanley restated an “underweight” rating and set a $39.00 price objective on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Hess Midstream Partners presently has a consensus rating of “Reduce” and an average price target of $38.86.

Hess Midstream Partners Trading Down 1.5%

The company has a market cap of $8.08 billion, a price-to-earnings ratio of 13.51 and a beta of 0.52. The company’s 50 day moving average price is $39.15 and its 200 day moving average price is $38.70. The company has a debt-to-equity ratio of 9.39, a quick ratio of 0.77 and a current ratio of 0.77.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 23.23% and a return on equity of 92.18%. Hess Midstream Partners’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. Research analysts anticipate that Hess Midstream Partners LP will post 2.94 EPS 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 issued a dividend of $0.7888 per share. This represents a $3.16 annualized dividend and a yield of 8.1%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date was Thursday, August 6th. Hess Midstream Partners’s dividend payout ratio is 108.62%.

Institutional Trading of Hess Midstream Partners

Large investors have recently made changes to their positions in the stock. Two Sigma Securities LLC bought a new position in shares of Hess Midstream Partners in the 2nd quarter valued at approximately $936,000. Hsbc Holdings PLC bought a new stake in Hess Midstream Partners during the second quarter worth approximately $4,139,000. Beacon Pointe Advisors LLC grew its holdings in Hess Midstream Partners by 18.3% during the second quarter. Beacon Pointe Advisors LLC now owns 79,334 shares of the company’s stock valued at $2,983,000 after purchasing an additional 12,296 shares during the last quarter. Corient Private Wealth LP bought a new position in shares of Hess Midstream Partners in the second quarter valued at approximately $260,000. Finally, Palo Duro Investment Partners LP raised its position in shares of Hess Midstream Partners by 3.6% in the second quarter. Palo Duro Investment Partners LP now owns 10,309 shares of the company’s stock valued at $388,000 after purchasing an additional 363 shares during the period. Institutional investors own 98.97% of the company’s stock.

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.