Hess Midstream Partners LP (NYSE:HESM) Shares Shorted: Short Interest Up 65.7% in October

Hess Midstream Partners LP (NYSE:HESM) was the target of a large increase in short interest in October. As of October 15th, there was short interest totaling 12,754,528 shares, an increase of 65.7% from the September 30th total of 7,695,343 shares. Currently, 6.2% of the company’s stock are short sold. Based on an average daily volume of 3,393,816 shares, the days-to-cover ratio is presently 3.8 days.

Wall Street Analysts Forecast Growth

HESM has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded shares of Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 target price on the stock. in a research note on Friday, October 2nd. Weiss Ratings downgraded shares of Hess Midstream Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 22nd. Barclays set a $32.00 price target on shares of Hess Midstream Partners in a research report on Friday, October 23rd. UBS Group decreased their price objective on shares of Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Finally, Morgan Stanley lowered their price objective on Hess Midstream Partners from $39.00 to $30.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 13th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Hess Midstream Partners currently has an average rating of “Reduce” and a consensus target price of $34.00.

Institutional Investors Weigh In On Hess Midstream Partners

Large investors have recently made changes to their positions in the company. Compass Financial Management LLC lifted its stake in shares of Hess Midstream Partners by 149.4% in the 3rd quarter. Compass Financial Management LLC now owns 868 shares of the company’s stock worth $32,000 after purchasing an additional 520 shares during the period. MGO One Seven LLC grew its position in Hess Midstream Partners by 15.3% during the third quarter. MGO One Seven LLC now owns 13,527 shares of the company’s stock valued at $506,000 after buying an additional 1,794 shares during the period. Soltis Investment Advisors LLC bought a new stake in Hess Midstream Partners during the third quarter valued at approximately $211,000. William Mack & Associates Inc. bought a new stake in Hess Midstream Partners during the third quarter valued at approximately $135,000. Finally, Oakworth Capital Inc. purchased a new stake in Hess Midstream Partners during the third quarter valued at approximately $161,000. 98.97% of the stock is currently owned by institutional investors.

Hess Midstream Partners Stock Down 0.0%

HESM opened at $32.70 on Monday. 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 firm has a 50 day moving average price of $36.52 and a 200-day moving average price of $37.94. Hess Midstream Partners has a twelve month low of $29.52 and a twelve month high of $41.44. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 11.20 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Friday, October 30th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. The company had revenue of $410.10 million for the quarter, compared to analysts’ expectations of $404.67 million. Hess Midstream Partners had a net margin of 23.49% and a return on equity of 94.12%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.75 earnings per share. Equities research analysts forecast that Hess Midstream Partners will post 3.29 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Thursday, November 5th will be given a $0.7985 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.7888. This represents a $3.19 annualized dividend and a yield of 9.8%. Hess Midstream Partners’s payout ratio is 109.25%.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP (NYSE:HESM) is a midstream energy company that owns and operates infrastructure supporting oil and gas production, primarily in the Bakken and Three Forks shale plays of North Dakota. The company provides essential services between the wellhead and downstream markets rather than exploring for or producing hydrocarbons itself.

Its operations include gathering, processing, storage and transportation services for crude oil, natural gas and natural gas liquids. Hess Midstream also provides produced-water gathering and disposal services, helping manage water generated during oil and gas production.