Hess Midstream Partners LP (NYSE:HESM) Given Consensus Recommendation of “Hold” by Analysts

Shares of Hess Midstream Partners LP (NYSE:HESM) have received an average recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $40.1429.

A number of brokerages have recently issued reports on HESM. Wells Fargo & Company increased their target price on Hess Midstream Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. The Goldman Sachs Group cut Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price for the company. in a report on Monday, April 20th. Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Finally, Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd.

Hedge Funds Weigh In On Hess Midstream Partners

A number of hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. raised its holdings in shares of Hess Midstream Partners by 3.4% in the 4th quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock worth $1,045,457,000 after buying an additional 1,007,846 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Hess Midstream Partners by 3.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock valued at $313,301,000 after purchasing an additional 330,802 shares in the last quarter. Invesco Ltd. increased its holdings in Hess Midstream Partners by 10.7% during the 4th 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Hess Midstream Partners during the 3rd quarter valued at $187,691,000. Finally, Bank of New York Mellon Corp increased its holdings in Hess Midstream Partners by 67.5% during the 1st quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock valued at $145,840,000 after purchasing an additional 1,512,007 shares in the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Partners Price Performance

Shares of HESM stock opened at $38.18 on Monday. The stock has a 50 day moving average of $38.78 and a two-hundred day moving average of $36.00. 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. The company has a market capitalization of $7.93 billion, a P/E ratio of 13.21 and a beta of 0.54.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results 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. Hess Midstream Partners had a return on equity of 84.47% and a net margin of 22.64%.The business had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $389.51 million. During the same period in the prior year, the firm posted $0.65 EPS. Hess Midstream Partners’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Hess Midstream Partners will post 3.01 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th will be issued a $0.7792 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend is Thursday, May 7th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s payout ratio is currently 107.96%.

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.