Hess Midstream Partners LP (NYSE:HESM) Stock Rated “Reduce” by Wall Street Brokerages

Hess Midstream Partners LP (NYSE:HESM) has been assigned an average recommendation of “Reduce” from the seven brokerages that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $37.00.

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Monday, September 21st. JPMorgan Chase & Co. cut Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 price target on the stock. in a research note on Friday. Finally, Morgan Stanley restated an “underweight” rating and issued a $39.00 price target on shares of Hess Midstream Partners in a research note on Tuesday, July 21st.

Institutional Investors Weigh In On Hess Midstream Partners

Several institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its holdings in Hess Midstream Partners by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 147,778 shares of the company’s stock valued at $5,556,000 after purchasing an additional 1,203 shares in the last quarter. State Street Corp raised its holdings in Hess Midstream Partners by 38.0% during the second quarter. State Street Corp now owns 365,577 shares of the company’s stock worth $13,746,000 after purchasing an additional 100,611 shares in the last quarter. Tidal Investments LLC raised its holdings in Hess Midstream Partners by 37.2% during the second quarter. Tidal Investments LLC now owns 7,881 shares of the company’s stock worth $296,000 after purchasing an additional 2,138 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Hess Midstream Partners during the 2nd quarter worth approximately $77,000. Finally, Squarepoint Ops LLC lifted its position in shares of Hess Midstream Partners by 419.8% during the 2nd quarter. Squarepoint Ops LLC now owns 106,871 shares of the company’s stock worth $4,018,000 after buying an additional 86,309 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Up 1.8%

Shares of NYSE:HESM opened at $38.43 on Thursday. Hess Midstream Partners has a fifty-two week low of $31.63 and a fifty-two week high of $41.44. The firm’s 50 day moving average price is $39.67 and its 200 day moving average price is $39.08. 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 stock has a market cap of $7.92 billion, a price-to-earnings ratio of 13.25 and a beta of 0.58.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The company had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $395.96 million. During the same quarter in the previous year, the business posted $0.74 EPS. The firm’s revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts predict that Hess Midstream Partners will post 2.94 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, August 6th were issued a $0.7888 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date was Thursday, August 6th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.7792. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 108.62%.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP (NYSE:HESM) is a fee-based midstream energy company that owns and operates infrastructure supporting crude oil, natural gas and produced-water production in the Bakken Shale of North Dakota. The partnership primarily serves Hess Corp. and other producers operating in the region.

Its assets include systems for gathering and processing natural gas, gathering and transporting crude oil, and handling and disposing of produced water. Hess Midstream also provides storage, terminal and transportation services, helping connect production sites with downstream pipelines, rail facilities and other market outlets.

The company was formed to own midstream assets previously developed or operated by Hess and began trading publicly in 2017.