Hess Midstream Partners (NYSE:HESM) Raised to “Strong-Buy” at Zacks Research

Hess Midstream Partners (NYSE:HESM) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

HESM has been the subject of a number of other research reports. Citigroup reduced their price objective on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. Morgan Stanley assumed coverage on Hess Midstream Partners in a research note on Friday, July 25th. They issued an “equal weight” rating and a $48.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Wells Fargo & Company downgraded Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research note on Friday, September 19th. Finally, The Goldman Sachs Group assumed coverage on Hess Midstream Partners in a research note on Tuesday. They issued a “neutral” rating and a $36.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Hess Midstream Partners currently has a consensus rating of “Hold” and an average target price of $42.00.

Hess Midstream Partners Trading Down 0.5%

NYSE HESM opened at $34.53 on Monday. The firm has a market capitalization of $7.25 billion, a P/E ratio of 12.79 and a beta of 0.68. The business has a fifty day simple moving average of $40.02 and a 200 day simple moving average of $39.15. 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 released its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The business had revenue of $414.20 million during the quarter, compared to analyst estimates of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.Hess Midstream Partners’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. On average, analysts predict that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling at Hess Midstream Partners

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. boosted its stake in Hess Midstream Partners by 31.1% in the 1st quarter. Alps Advisors Inc. now owns 26,356,221 shares of the company’s stock worth $1,114,605,000 after purchasing an additional 6,251,664 shares during the period. Invesco Ltd. boosted its stake in Hess Midstream Partners by 50.5% in the 2nd quarter. Invesco Ltd. now owns 6,022,208 shares of the company’s stock worth $231,915,000 after purchasing an additional 2,020,430 shares during the period. Artemis Investment Management LLP boosted its stake in 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 worth $83,288,000 after purchasing an additional 1,118,245 shares during the period. Westwood Holdings Group Inc. raised its holdings 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 acquiring an additional 1,006,998 shares in the last quarter. Finally, Eagle Global Advisors LLC raised its holdings 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 acquiring an additional 857,669 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Company Profile

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.