Hess Midstream Partners (NYSE:HESM) Stock Price Target Lowered at Wells Fargo & Company

Hess Midstream Partners (NYSE:HESM) had its target price decreased by investment analysts at Wells Fargo & Company from $40.00 to $34.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 5.12% from the company’s previous close.

Several other research firms have also recently issued reports on HESM. JPMorgan Chase & Co. cut Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 target price on the stock. in a research report on Friday, October 2nd. Barclays set a $32.00 price target on Hess Midstream Partners in a report on Friday, October 23rd. UBS Group decreased their price target on Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Weiss Ratings lowered Hess Midstream Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 22nd. Finally, Raymond James Financial upgraded Hess Midstream Partners from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research report on Friday, October 23rd. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $33.25.

Hess Midstream Partners Stock Down 1.1%

HESM stock opened at $32.34 on Wednesday. Hess Midstream Partners has a one year low of $29.52 and a one year high of $41.44. The stock has a market capitalization of $6.67 billion, a PE ratio of 11.09 and a beta of 0.68. The company has a debt-to-equity ratio of 9.39, a quick ratio of 0.77 and a current ratio of 0.77. The company has a fifty day moving average of $36.26 and a 200-day moving average of $37.92.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings results on Friday, October 30th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $410.10 million for the quarter, compared to analyst estimates of $404.67 million. Hess Midstream Partners had a net margin of 23.49% and a return on equity of 94.12%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, analysts expect that Hess Midstream Partners will post 3.29 EPS for the current year.

Institutional Trading of Hess Midstream Partners

Several institutional investors have recently made changes to their positions in the stock. Compass Financial Management LLC boosted its stake in shares of Hess Midstream Partners by 149.4% during the 3rd quarter. Compass Financial Management LLC now owns 868 shares of the company’s stock worth $32,000 after acquiring an additional 520 shares in the last quarter. Grove Bank & Trust acquired a new stake in Hess Midstream Partners during the second quarter valued at approximately $38,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Hess Midstream Partners in the 2nd quarter valued at $77,000. IFP Advisors Inc lifted its holdings in Hess Midstream Partners by 564.2% during the 3rd quarter. IFP Advisors Inc now owns 2,557 shares of the company’s stock valued at $96,000 after purchasing an additional 2,172 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Hess Midstream Partners by 113.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,658 shares of the company’s stock valued at $99,000 after buying an additional 1,415 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Hess Midstream Partners Company Profile

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.