Analysts Set Hess Midstream Partners LP (HESM) Target Price at $27.83

Hess Midstream Partners LP (NYSE:HESM) has been given a consensus rating of “Buy” by the seven analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $27.83.

Several research firms recently weighed in on HESM. BidaskClub raised Hess Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Citigroup Inc. raised Hess Midstream Partners from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $28.00 to $25.00 in a research report on Friday, August 11th. Finally, Zacks Investment Research raised Hess Midstream Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th.

Shares of Hess Midstream Partners (NYSE HESM) traded up $0.08 during trading hours on Friday, hitting $20.24. The company’s stock had a trading volume of 78,500 shares, compared to its average volume of 117,714. Hess Midstream Partners has a 12 month low of $18.33 and a 12 month high of $26.78.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. Hess Midstream Partners had a return on equity of 6.64% and a net margin of 28.19%. The company had revenue of $146.70 million during the quarter, compared to analysts’ expectations of $116.27 million. sell-side analysts expect that Hess Midstream Partners will post 1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Friday, November 3rd were given a dividend of $0.3107 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.24 annualized dividend and a dividend yield of 6.14%.

Several hedge funds and other institutional investors have recently bought and sold shares of HESM. Spirit of America Management Corp NY acquired a new position in shares of Hess Midstream Partners during the 2nd quarter worth about $3,111,000. Russell Investments Group Ltd. bought a new position in Hess Midstream Partners during the second quarter valued at about $7,013,000. Acadian Asset Management LLC bought a new position in Hess Midstream Partners during the second quarter valued at about $119,000. Kornitzer Capital Management Inc. KS bought a new position in Hess Midstream Partners during the second quarter valued at about $735,000. Finally, State of New Jersey Common Pension Fund D bought a new position in Hess Midstream Partners during the second quarter valued at about $2,536,000. 58.51% of the stock is owned by institutional investors and hedge funds.

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About Hess Midstream Partners

Hess Midstream Partners LP is a fee-based, traditional master limited partnership formed to 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 assets are primarily located in the Bakken and Three Forks shale plays in the Williston Basin area of North Dakota (collectively referred as the Bakken).

Analyst Recommendations for Hess Midstream Partners (NYSE:HESM)

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