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

Shares of Hess Midstream Partners LP (NYSE:HESM) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $38.7143.

A number of research firms have recently commented on HESM. Morgan Stanley cut their price objective on Hess Midstream Partners from $42.00 to $38.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. The Goldman Sachs Group lowered Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective on the stock. in a research note on Monday, April 20th. Finally, Wells Fargo & Company lifted their price objective on Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th.

Hess Midstream Partners Stock Performance

NYSE:HESM opened at $38.96 on Friday. Hess Midstream Partners has a fifty-two week low of $31.63 and a fifty-two week high of $44.14. The firm’s 50 day moving average is $38.78 and its two-hundred day moving average is $36.78. The company has a market cap of $8.03 billion, a P/E ratio of 13.48 and a beta of 0.52. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $389.51 million. During the same period last year, the company posted $0.65 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts expect that Hess Midstream Partners will post 2.99 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were paid a dividend of $0.7792 per share. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date was Thursday, May 7th. Hess Midstream Partners’s payout ratio is presently 107.61%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Advocates LLC acquired a new position in shares of Hess Midstream Partners during the third quarter worth about $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hess Midstream Partners during the fourth quarter worth about $44,000. IFP Advisors Inc lifted its stake in shares of Hess Midstream Partners by 70.0% during the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock worth $49,000 after purchasing an additional 582 shares in the last quarter. CENTRAL TRUST Co boosted its position in Hess Midstream Partners by 124.4% in the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock valued at $84,000 after buying an additional 1,200 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Hess Midstream Partners by 14.3% during the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after acquiring an additional 300 shares in the last quarter. 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.