Hess Midstream Partners (NYSE:HESM) Price Target Raised to $40.00 at Wells Fargo & Company

Hess Midstream Partners (NYSE:HESM) had its price objective lifted by analysts at Wells Fargo & Company from $39.00 to $40.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 2.02% from the company’s previous close.

A number of other research firms also recently issued reports on HESM. Raymond James Financial lowered Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Wall Street Zen lowered Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.71.

Hess Midstream Partners Stock Up 0.7%

Shares of Hess Midstream Partners stock traded up $0.29 during trading hours on Friday, reaching $39.21. The company’s stock had a trading volume of 162,246 shares, compared to its average volume of 1,483,059. The company has a market capitalization of $8.14 billion, a P/E ratio of 13.72 and a beta of 0.60. The stock’s fifty day simple moving average is $36.35 and its two-hundred day simple moving average is $35.56. Hess Midstream Partners has a one year low of $31.63 and a one year high of $44.14. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.85 and a current ratio of 0.85.

Hess Midstream Partners (NYSE:HESM) last posted its earnings results on Monday, February 2nd. The company reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 74.89%. The company had revenue of $374.50 million during the quarter, compared to the consensus estimate of $419.16 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts forecast that Hess Midstream Partners will post 2.5 earnings per share for the current year.

Hedge Funds Weigh In On Hess Midstream Partners

Several hedge funds have recently modified their holdings of HESM. Strategic Advocates LLC bought a new position in shares of Hess Midstream Partners in the third quarter valued at approximately $28,000. Marquette Asset Management LLC bought a new stake in Hess Midstream Partners during the third quarter worth $30,000. Caitong International Asset Management Co. Ltd bought a new stake in Hess Midstream Partners during the fourth quarter worth $44,000. IFP Advisors Inc boosted its position in Hess Midstream Partners by 70.0% in 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 during the last quarter. Finally, CENTRAL TRUST Co boosted its position in Hess Midstream Partners by 34.9% in the second quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock worth $59,000 after purchasing an additional 400 shares during the last quarter. Institutional investors 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.