Hess Midstream Partners LP (NYSE:HESM) Given Average Rating of “Reduce” by Brokerages

Shares of Hess Midstream Partners LP (NYSE:HESM) have received a consensus recommendation of “Reduce” from the nine research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $40.5714.

HESM has been the subject of a number of research reports. Raymond James Financial lowered shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Zacks Research downgraded shares of Hess Midstream Partners from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Wall Street Zen lowered shares of Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hess Midstream Partners in a research report on Monday, December 29th.

Hess Midstream Partners Price Performance

Shares of NYSE HESM opened at $38.08 on Wednesday. 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 fifty day moving average of $35.23 and a 200 day moving average of $35.68. The firm has a market cap of $7.91 billion, a PE ratio of 13.31 and a beta of 0.62. Hess Midstream Partners has a one year low of $31.63 and a one year high of $44.14.

Hess Midstream Partners (NYSE:HESM) last announced its earnings results on Monday, February 2nd. The company reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. The business had revenue of $374.50 million during the quarter, compared to analysts’ expectations of $419.16 million. Hess Midstream Partners had a return on equity of 73.17% and a net margin of 21.77%.The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. As a group, research analysts predict that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Thursday, February 5th were issued a $0.7641 dividend. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.75. This represents a $3.06 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend was Thursday, February 5th. Hess Midstream Partners’s payout ratio is currently 106.99%.

Hedge Funds Weigh In On Hess Midstream Partners

Several institutional investors and hedge funds have recently bought and sold shares of the company. Strategic Advocates LLC acquired a new stake in shares of Hess Midstream Partners during the 3rd quarter worth approximately $28,000. Marquette Asset Management LLC acquired a new position in Hess Midstream Partners in the third quarter valued at approximately $30,000. IFP Advisors Inc grew its position in Hess Midstream Partners by 70.0% in the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock worth $49,000 after acquiring an additional 582 shares during the period. CENTRAL TRUST Co increased its stake in Hess Midstream Partners by 34.9% during 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. Finally, Geneos Wealth Management Inc. raised its position in Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after purchasing an additional 300 shares during the period. 98.97% of the stock is currently owned by institutional investors and hedge funds.

About Hess Midstream Partners

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.