Hess Midstream Partners (NYSE:HESM) Price Target Lowered to $37.00 at Citigroup

Hess Midstream Partners (NYSE:HESM) had its price target cut by Citigroup from $41.00 to $37.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley assumed coverage on shares of Hess Midstream Partners in a research note on Friday, July 25th. They set an “equal weight” rating and a $48.00 price objective for the company. UBS Group reissued a “neutral” rating and issued a $43.00 price target (down previously from $45.00) on shares of Hess Midstream Partners in a research note on Wednesday, September 10th. JPMorgan Chase & Co. boosted their price target on shares of Hess Midstream Partners from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Wells Fargo & Company cut shares of Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research note on Friday, September 19th. Finally, Wall Street Zen raised shares of Hess Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Hess Midstream Partners has a consensus rating of “Hold” and an average target price of $43.00.

Hess Midstream Partners Price Performance

Shares of NYSE:HESM opened at $34.78 on Tuesday. The company has a 50 day moving average of $40.33 and a 200 day moving average of $39.29. The stock has a market cap of $7.31 billion, a P/E ratio of 12.88 and a beta of 0.68. Hess Midstream Partners has a 12 month low of $33.59 and a 12 month high of $44.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26.

Hess Midstream Partners (NYSE:HESM) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.56 by $0.18. The company had revenue of $414.20 million during the quarter, compared to analysts’ expectations of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. Hess Midstream Partners’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. As a group, sell-side analysts forecast that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were paid a $0.737 dividend. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.5%. Hess Midstream Partners’s dividend payout ratio is currently 109.26%.

Insider Activity

In other news, COO John A. Gatling sold 62,457 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $41.59, for a total value of $2,597,586.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Hess Midstream Partners

A number of institutional investors have recently made changes to their positions in HESM. Alps Advisors Inc. boosted its stake in shares of Hess Midstream Partners by 31.1% in the 1st quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company’s stock valued at $1,114,605,000 after purchasing an additional 6,251,664 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Hess Midstream Partners by 50.5% in the 2nd quarter. Invesco Ltd. now owns 6,022,208 shares of the company’s stock valued at $231,915,000 after purchasing an additional 2,020,430 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of Hess Midstream Partners by 131.4% in the 1st quarter. Artemis Investment Management LLP now owns 1,969,448 shares of the company’s stock valued at $83,288,000 after purchasing an additional 1,118,245 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Hess Midstream Partners by 92.4% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,096,560 shares of the company’s stock valued at $80,739,000 after purchasing an additional 1,006,998 shares in the last quarter. Finally, Eagle Global Advisors LLC boosted its stake in shares of Hess Midstream Partners by 53.7% in the 2nd quarter. Eagle Global Advisors LLC now owns 2,453,834 shares of the company’s stock valued at $94,497,000 after purchasing an additional 857,669 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

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.