Hess Midstream Partners LP (NYSE:HESM) Receives $40.57 Average PT from Analysts

Hess Midstream Partners LP (NYSE:HESM) has earned a consensus rating of “Hold” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $40.5714.

A number of research analysts have recently issued reports on HESM shares. Citigroup cut their price objective on shares of Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. Wells Fargo & Company lowered shares of Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a report on Friday, September 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hess Midstream Partners in a report on Monday, December 1st. Wall Street Zen cut Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Zacks Research upgraded Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Avantax Advisory Services Inc. purchased a new position in shares of Hess Midstream Partners during the 1st quarter valued at about $229,000. Cetera Investment Advisers lifted its stake in shares of Hess Midstream Partners by 8.4% in the 1st quarter. Cetera Investment Advisers now owns 36,762 shares of the company’s stock valued at $1,555,000 after purchasing an additional 2,847 shares during the period. LPL Financial LLC increased its holdings in Hess Midstream Partners by 0.4% in the first quarter. LPL Financial LLC now owns 195,428 shares of the company’s stock valued at $8,265,000 after buying an additional 818 shares in the last quarter. Blair William & Co. IL purchased a new position in Hess Midstream Partners in the first quarter valued at $216,000. Finally, Vanguard Group Inc. raised its position in shares of Hess Midstream Partners by 6.2% in the first quarter. Vanguard Group Inc. now owns 706,507 shares of the company’s stock worth $29,878,000 after acquiring an additional 41,405 shares during the period. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Partners Price Performance

NYSE HESM opened at $34.18 on Friday. The company has a market cap of $7.10 billion, a PE ratio of 12.12 and a beta of 0.62. Hess Midstream Partners has a 52-week low of $31.63 and a 52-week high of $44.14. The company has a debt-to-equity ratio of 8.83, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s 50 day moving average price is $33.41 and its 200-day moving average price is $37.28.

Hess Midstream Partners (NYSE:HESM) last announced its earnings results on Monday, November 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.02. The business had revenue of $420.90 million for the quarter, compared to analysts’ expectations of $424.36 million. Hess Midstream Partners had a return on equity of 69.03% and a net margin of 20.46%.The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Sell-side analysts forecast that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, November 6th were paid a dividend of $0.7548 per share. This represents a $3.02 dividend on an annualized basis and a yield of 8.8%. The ex-dividend date was Thursday, November 6th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.74. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 107.09%.

About Hess Midstream Partners

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.