Hess Midstream Partners (NYSE:HESM) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Hess Midstream Partners (NYSE:HESM) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other research analysts have also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Hess Midstream Partners in a research report on Tuesday, September 30th. They set a “neutral” rating and a $36.00 target price on the stock. Citigroup dropped their price target on shares of Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 23rd. UBS Group reissued a “neutral” rating and issued a $43.00 price objective (down from $45.00) on shares of Hess Midstream Partners in a research report on Wednesday, September 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hess Midstream Partners in a research report on Thursday. Finally, Morgan Stanley initiated coverage on Hess Midstream Partners in a research note on Friday, July 25th. They issued an “equal weight” rating and a $48.00 price target on the stock. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.57.

Hess Midstream Partners Price Performance

Hess Midstream Partners stock opened at $33.34 on Friday. Hess Midstream Partners has a 1 year low of $31.63 and a 1 year high of $44.14. The company has a debt-to-equity ratio of 8.83, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50 day moving average price of $34.82 and a 200 day moving average price of $37.78. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 11.82 and a beta of 0.62.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. Hess Midstream Partners had a return on equity of 69.03% and a net margin of 20.46%.The company had revenue of $420.90 million for the quarter, compared to the consensus estimate of $424.36 million. During the same period last year, the business posted $0.63 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts predict that Hess Midstream Partners will post 2.5 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, November 14th. Shareholders of record on Thursday, November 6th were issued a dividend of $0.7548 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $3.02 dividend on an annualized basis and a yield of 9.1%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.74. Hess Midstream Partners’s dividend payout ratio (DPR) is 107.09%.

Institutional Investors Weigh In On Hess Midstream Partners

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kesler Norman & Wride LLC boosted its holdings in Hess Midstream Partners by 0.9% in the second quarter. Kesler Norman & Wride LLC now owns 26,507 shares of the company’s stock worth $1,021,000 after purchasing an additional 241 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after buying an additional 300 shares during the period. Virtus Investment Advisers LLC boosted its holdings in shares of Hess Midstream Partners by 7.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 4,456 shares of the company’s stock valued at $172,000 after buying an additional 315 shares during the period. Farther Finance Advisors LLC grew its position in shares of Hess Midstream Partners by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,696 shares of the company’s stock valued at $93,000 after buying an additional 333 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in Hess Midstream Partners by 34.9% in the second quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock worth $59,000 after acquiring an additional 400 shares during the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

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.