Hess Midstream Partners LP (HESM) Upgraded to “Overweight” at Morgan Stanley

Hess Midstream Partners LP (NASDAQ:HESM) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Wednesday, August 30th, Marketbeat reports. The brokerage currently has a $26.00 target price on the stock, up from their prior target price of $25.00. Morgan Stanley’s price objective would indicate a potential upside of 13.89% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Scotiabank set a $31.00 price target on shares of Hess Midstream Partners and gave the company a “buy” rating in a research report on Friday, May 19th. Citigroup Inc. initiated coverage on shares of Hess Midstream Partners in a research report on Tuesday, May 2nd. They issued a “neutral” rating and a $28.00 price target on the stock. Finally, Zacks Investment Research cut shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $27.83.

Shares of Hess Midstream Partners (NASDAQ:HESM) traded up 2.84% on Wednesday, reaching $22.83. The company had a trading volume of 49,135 shares. The firm has a market capitalization of $1.25 billion and a PE ratio of 9.54. The company’s 50-day moving average is $20.61 and its 200 day moving average is $22.08. Hess Midstream Partners has a 12 month low of $18.33 and a 12 month high of $26.78.

Hess Midstream Partners (NASDAQ:HESM) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). Hess Midstream Partners had a return on equity of 3.23% and a net margin of 49.24%. The company had revenue of $138.30 million for the quarter, compared to the consensus estimate of $111.37 million. Equities analysts forecast that Hess Midstream Partners will post $0.89 earnings per share for the current year.

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Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Hess Midstream Partners during the 2nd quarter worth approximately $119,000. CNH Partners LLC purchased a new stake in shares of Hess Midstream Partners during the 2nd quarter worth approximately $346,000. Sei Investments Co. purchased a new stake in shares of Hess Midstream Partners during the 2nd quarter worth approximately $373,000. Lucas Capital Management purchased a new stake in shares of Hess Midstream Partners during the 2nd quarter worth approximately $624,000. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in shares of Hess Midstream Partners during the 2nd quarter worth approximately $735,000.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP is a fee-based, traditional master limited partnership formed to own, operate, develop and acquire a set of midstream assets to provide services to Hess and third-party crude oil and natural gas producers. The Company’s assets are primarily located in the Bakken and Three Forks shale plays in the Williston Basin area of North Dakota (collectively referred as the Bakken).

Analyst Recommendations for Hess Midstream Partners (NASDAQ:HESM)

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