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

Shares of Hess Midstream Partners LP (NYSE:HESM) have been assigned a consensus rating of “Reduce” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $38.7143.

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group cut shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target on the stock. in a research report on Monday, April 20th. Morgan Stanley lowered shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective for the company. in a research report on Wednesday, June 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th.

Hess Midstream Partners Price Performance

Shares of Hess Midstream Partners stock opened at $40.33 on Friday. The firm has a market cap of $8.31 billion, a PE ratio of 13.95 and a beta of 0.53. The stock has a 50 day moving average of $38.65 and a 200 day moving average of $37.75. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97. Hess Midstream Partners has a 12 month low of $31.63 and a 12 month high of $44.14.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The business had revenue of $390.10 million for the quarter, compared to the consensus estimate of $389.51 million. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. On average, research analysts expect that Hess Midstream Partners will post 2.9 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were issued a $0.7792 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Thursday, May 7th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s payout ratio is 107.96%.

Institutional Investors Weigh In On Hess Midstream Partners

Several large investors have recently added to or reduced their stakes in the stock. Grove Bank & Trust bought a new stake in shares of Hess Midstream Partners in the 2nd quarter valued at approximately $38,000. Glenmede Trust Co. NA bought a new position in shares of Hess Midstream Partners during the 1st quarter valued at approximately $470,000. Ritter Alpha LP bought a new position in shares of Hess Midstream Partners during the 1st quarter valued at approximately $249,000. Sunbelt Securities Inc. raised its holdings in Hess Midstream Partners by 13,752.4% during the 1st quarter. Sunbelt Securities Inc. now owns 5,818 shares of the company’s stock valued at $226,000 after buying an additional 5,776 shares during the period. Finally, Amundi raised its holdings in Hess Midstream Partners by 148.7% during the 1st quarter. Amundi now owns 35,730 shares of the company’s stock valued at $1,389,000 after buying an additional 21,361 shares during the period. 98.97% of the stock is owned by 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.