Hess Midstream Partners LP (NYSE:HESM) Stock Has Average Price Target of $34.00 According to Brokerages

Shares of Hess Midstream Partners LP (NYSE:HESM) have earned an average recommendation of “Reduce” from the nine brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $34.00.

A number of analysts have issued reports on HESM shares. Citigroup decreased their target price on Hess Midstream Partners from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Weiss Ratings cut Hess Midstream Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 22nd. Morgan Stanley cut their price target on Hess Midstream Partners from $39.00 to $30.00 and set an “underweight” rating for the company in a research note on Tuesday, October 13th. Raymond James Financial upgraded Hess Midstream Partners from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research note on Friday, October 23rd. Finally, Barclays set a $32.00 price objective on Hess Midstream Partners in a report on Friday, October 23rd.

Institutional Trading of Hess Midstream Partners

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its stake in Hess Midstream Partners by 67.5% in 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 buying an additional 1,512,007 shares in the last quarter. Miller Howard Investments Inc. NY raised its holdings in Hess Midstream Partners by 1.8% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 1,586,630 shares of the company’s stock valued at $59,292,000 after acquiring an additional 28,499 shares during the period. Lazard Asset Management LLC raised its holdings in Hess Midstream Partners by 1,110.7% during the 1st quarter. Lazard Asset Management LLC now owns 1,069,244 shares of the company’s stock valued at $41,562,000 after acquiring an additional 980,929 shares during the period. First Trust Advisors LP lifted its position in shares of Hess Midstream Partners by 34.9% during the first quarter. First Trust Advisors LP now owns 959,321 shares of the company’s stock worth $37,289,000 after acquiring an additional 247,973 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Hess Midstream Partners by 38.7% during the second quarter. Bank of America Corp DE now owns 446,037 shares of the company’s stock worth $16,771,000 after acquiring an additional 124,507 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Hess Midstream Partners Stock Up 0.1%

Shares of NYSE:HESM opened at $31.70 on Monday. The company has a market capitalization of $6.54 billion, a PE ratio of 10.93 and a beta of 0.58. The company has a debt-to-equity ratio of 9.39, a current ratio of 0.77 and a quick ratio of 0.77. The business has a fifty day moving average price of $36.80 and a two-hundred day moving average price of $37.96. Hess Midstream Partners has a 1 year low of $29.52 and a 1 year high of $41.44.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $399.00 million during the quarter, compared to analyst estimates of $395.96 million. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. Hess Midstream Partners’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Analysts forecast that Hess Midstream Partners will post 3.29 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Thursday, November 5th will be paid a $0.7985 dividend. The ex-dividend date is Thursday, November 5th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.7888. This represents a $3.19 annualized dividend and a dividend yield of 10.1%. Hess Midstream Partners’s dividend payout ratio is 108.97%.

About Hess Midstream Partners

Hess Midstream Partners LP (NYSE:HESM) is a midstream energy company that owns and operates infrastructure supporting oil and gas production, primarily in the Bakken and Three Forks shale plays of North Dakota. The company provides essential services between the wellhead and downstream markets rather than exploring for or producing hydrocarbons itself.

Its operations include gathering, processing, storage and transportation services for crude oil, natural gas and natural gas liquids. Hess Midstream also provides produced-water gathering and disposal services, helping manage water generated during oil and gas production.