Hess Midstream Partners LP (NYSE:HESM) Receives Average Recommendation of “Hold” from Analysts

Hess Midstream Partners LP (NYSE:HESM) has earned a consensus rating of “Hold” from the nine analysts that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $40.7143.

HESM has been the topic of several recent analyst reports. Wall Street Zen lowered Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Wells Fargo & Company lifted their target price on Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday. Weiss Ratings raised shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Raymond James Financial downgraded shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Finally, Zacks Research upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd.

Hess Midstream Partners Price Performance

Shares of NYSE:HESM opened at $39.05 on Friday. The firm has a 50 day moving average of $36.44 and a 200-day moving average of $35.50. Hess Midstream Partners has a 12 month low of $31.63 and a 12 month high of $44.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.54. The stock has a market capitalization of $8.11 billion, a PE ratio of 13.66 and a beta of 0.60.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, February 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $374.50 million for the quarter, compared to analysts’ expectations of $419.16 million. During the same period last year, the firm posted $0.68 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Thursday, February 5th were issued a dividend of $0.7641 per share. This represents a $3.06 annualized dividend and a dividend yield of 7.8%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, February 5th. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 106.99%.

Institutional Investors Weigh In On Hess Midstream Partners

Several hedge funds have recently modified their holdings of HESM. Alps Advisors Inc. grew its position in Hess Midstream Partners by 3.4% during the 4th quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock worth $1,045,457,000 after acquiring an additional 1,007,846 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Hess Midstream Partners by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock worth $313,301,000 after purchasing an additional 330,802 shares in the last quarter. Invesco Ltd. raised its position 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Hess Midstream Partners in the third quarter valued at about $187,691,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Hess Midstream Partners during the fourth quarter valued at about $92,288,000. Institutional investors and hedge funds 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.