Hess Midstream Partners LP (NYSE:HESM) Given Average Recommendation of “Reduce” by Analysts

Shares of Hess Midstream Partners LP (NYSE:HESM) have earned an average rating of “Reduce” from the eight analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has given 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 $37.6667.

HESM has been the subject of a number of recent research reports. Morgan Stanley reissued an “underweight” rating and issued a $39.00 target price on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research note on Wednesday, June 24th.

Hess Midstream Partners Price Performance

Shares of NYSE:HESM opened at $40.03 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The stock has a market cap of $8.25 billion, a PE ratio of 13.80 and a beta of 0.52. The company’s fifty day moving average is $39.67 and its 200 day moving average is $38.98. Hess Midstream Partners has a 52 week low of $31.63 and a 52 week high of $41.44.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The business had revenue of $399.00 million during the quarter, compared to analyst estimates of $395.96 million. During the same period in the prior year, the business posted $0.74 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. Research analysts anticipate that Hess Midstream Partners will post 2.94 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, August 6th were issued a $0.7888 dividend. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 7.9%. The ex-dividend date was Thursday, August 6th. Hess Midstream Partners’s dividend payout ratio (DPR) is 108.97%.

Institutional Investors Weigh In On Hess Midstream Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HESM. Corient Private Wealth LP purchased a new stake in Hess Midstream Partners during the 2nd quarter valued at $260,000. Amundi increased its holdings in Hess Midstream Partners by 37.9% during the 2nd quarter. Amundi now owns 49,279 shares of the company’s stock valued at $1,853,000 after purchasing an additional 13,549 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Hess Midstream Partners in the 2nd quarter worth approximately $305,000. California State Teachers Retirement System grew its position in shares of Hess Midstream Partners by 3,830.1% in the 2nd quarter. California State Teachers Retirement System now owns 5,311,000 shares of the company’s stock worth $199,694,000 after buying an additional 5,175,863 shares during the last quarter. Finally, NEOS Investment Management LLC boosted its holdings in Hess Midstream Partners by 42.4% in the second quarter. NEOS Investment Management LLC now owns 325,566 shares of the company’s stock valued at $12,241,000 after acquiring an additional 97,012 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

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.