Hess Midstream Partners LP (NYSE:HESM) Receives $38.71 Consensus Target Price from Analysts

Hess Midstream Partners LP (NYSE:HESM) has been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $38.7143.

Several analysts have recently weighed in on HESM shares. Zacks Research upgraded shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Morgan Stanley decreased their price objective on Hess Midstream Partners from $42.00 to $38.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. The Goldman Sachs Group cut Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective on the stock. in a report on Monday, April 20th. Weiss Ratings raised Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, Wells Fargo & Company raised their price objective on Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, March 13th.

Hedge Funds Weigh In On Hess Midstream Partners

A number of large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. increased its stake in Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after purchasing an additional 300 shares during the period. Kestra Private Wealth Services LLC increased its stake in Hess Midstream Partners by 1.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 25,766 shares of the company’s stock worth $889,000 after purchasing an additional 330 shares during the period. Investment Management Corp VA ADV increased its stake in Hess Midstream Partners by 3.0% in the 4th quarter. Investment Management Corp VA ADV now owns 12,519 shares of the company’s stock worth $432,000 after purchasing an additional 362 shares during the period. Cetera Investment Advisers increased its stake in Hess Midstream Partners by 0.8% in the 4th quarter. Cetera Investment Advisers now owns 44,931 shares of the company’s stock worth $1,550,000 after purchasing an additional 378 shares during the period. Finally, Creative Planning increased its stake in Hess Midstream Partners by 4.7% in the 3rd quarter. Creative Planning now owns 9,000 shares of the company’s stock worth $311,000 after purchasing an additional 404 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Stock Performance

Hess Midstream Partners stock opened at $38.24 on Friday. The firm’s fifty day moving average price is $38.86 and its 200-day moving average price is $36.67. The company has a debt-to-equity ratio of 9.97, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $7.88 billion, a P/E ratio of 13.23 and a beta of 0.52. Hess Midstream Partners has a fifty-two week low of $31.63 and a fifty-two week high of $44.14.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. The firm had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. On average, equities research analysts expect that Hess Midstream Partners will post 2.99 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were given a $0.7792 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date was Thursday, May 7th. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s dividend payout ratio is 107.96%.

Hess Midstream Partners Company Profile

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.