Hess Midstream Partners (NYSE:HESM) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Hess Midstream Partners (NYSE:HESM) from a strong sell rating to a hold rating in a report published on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on HESM. Wall Street Zen downgraded shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Raymond James Financial downgraded Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Finally, Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.57.

Hess Midstream Partners Stock Performance

Hess Midstream Partners stock opened at $39.55 on Monday. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 13.83 and a beta of 0.60. Hess Midstream Partners has a 12 month low of $31.63 and a 12 month high of $44.14. The company has a debt-to-equity ratio of 8.54, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s 50-day moving average is $35.71 and its 200-day moving average is $35.58.

Hess Midstream Partners (NYSE:HESM) last posted its earnings results on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.72. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. The firm had revenue of $374.50 million during the quarter, compared to the consensus estimate of $419.16 million. During the same quarter in the prior year, the company earned $0.68 EPS. The company’s revenue was up 2.1% on a year-over-year basis. Equities analysts anticipate that Hess Midstream Partners will post 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Thursday, February 5th were paid a dividend of $0.7641 per share. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $3.06 annualized dividend and a yield of 7.7%. Hess Midstream Partners’s payout ratio is presently 106.99%.

Hedge Funds Weigh In On Hess Midstream Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hess Midstream Partners during the fourth quarter worth about $44,000. Invesco Ltd. boosted its holdings in Hess Midstream Partners by 10.7% in the fourth quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock valued at $228,385,000 after purchasing an additional 641,092 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Hess Midstream Partners during the 4th quarter valued at approximately $4,814,000. Alpine Woods Capital Investors LLC purchased a new stake in Hess Midstream Partners during the 4th quarter worth approximately $3,081,000. Finally, NewEdge Advisors LLC increased its holdings in Hess Midstream Partners by 7,341.3% during the 4th quarter. NewEdge Advisors LLC now owns 5,953 shares of the company’s stock worth $205,000 after purchasing an additional 5,873 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

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.