Zacks Investment Research Lowers Hess Midstream Partners (NYSE:HESM) to Sell

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Hess Midstream Partners (NYSE:HESM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Hess Midstream Partners LP is a master limited partnership company. It own, operate, develop and acquire a set of midstream assets to provide services to Hess and third-party crude oil and natural gas producers. The company’s operating segments consists of gathering; processing and storage and terminaling and export. Hess Midstream Partners LP is based in Houston, United States. “

A number of other research firms also recently issued reports on HESM. Scotiabank began coverage on Hess Midstream Partners in a report on Tuesday, September 3rd. They set a “sector outperform” rating and a $24.00 price objective for the company. Scotia Howard Weill began coverage on Hess Midstream Partners in a report on Tuesday, September 3rd. They set an “outperform” rating and a $24.00 price objective for the company. Finally, TheStreet upgraded Hess Midstream Partners from a “c” rating to a “b-” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $24.86.

NYSE:HESM opened at $20.72 on Wednesday. The company has a market cap of $569.49 million, a PE ratio of 16.31 and a beta of 1.46. Hess Midstream Partners has a 52-week low of $16.17 and a 52-week high of $23.43. The stock has a 50-day simple moving average of $19.96 and a 200 day simple moving average of $20.06.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). The firm had revenue of $172.80 million for the quarter, compared to the consensus estimate of $178.55 million. Hess Midstream Partners had a return on equity of 2.54% and a net margin of 10.16%. On average, research analysts anticipate that Hess Midstream Partners will post 1.37 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in shares of Hess Midstream Partners in the first quarter valued at approximately $128,000. BNP Paribas Arbitrage SA lifted its position in shares of Hess Midstream Partners by 124.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,342 shares of the company’s stock valued at $163,000 after buying an additional 4,621 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Hess Midstream Partners by 1,854.7% in the second quarter. Bank of Montreal Can now owns 21,345 shares of the company’s stock valued at $416,000 after buying an additional 20,253 shares during the last quarter. First Trust Advisors LP lifted its holdings in Hess Midstream Partners by 64.7% during the 2nd quarter. First Trust Advisors LP now owns 23,817 shares of the company’s stock worth $464,000 after purchasing an additional 9,356 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in Hess Midstream Partners by 7.7% during the 2nd quarter. GSA Capital Partners LLP now owns 40,677 shares of the company’s stock worth $793,000 after purchasing an additional 2,897 shares during the last quarter. 46.30% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP owns, operates, develops, and acquires midstream assets to provide 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 is involved in the natural gas and crude oil gathering and compression activities located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.

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Analyst Recommendations for Hess Midstream Partners (NYSE:HESM)

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