Hess Midstream Partners (NYSE:HESM) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Hess Midstream Partners (NYSE:HESM) posted its quarterly earnings results on Monday. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08, Briefing.com reports. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS.

Hess Midstream Partners Price Performance

Hess Midstream Partners stock opened at $41.60 on Monday. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 14.39 and a beta of 0.53. The firm has a 50-day moving average of $38.76 and a two-hundred day moving average of $38.21. Hess Midstream Partners has a 1 year low of $31.63 and a 1 year high of $43.43.

Hess Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, August 6th will be issued a dividend of $0.7888 per share. This represents a $3.16 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date is Thursday, August 6th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. Hess Midstream Partners’s dividend payout ratio (DPR) is presently 109.00%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its stake in Hess Midstream Partners by 14.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after buying an additional 300 shares during the last quarter. Larson Financial Group LLC raised its stake in Hess Midstream Partners by 668.5% in the third quarter. Larson Financial Group LLC now owns 3,074 shares of the company’s stock valued at $106,000 after buying an additional 2,674 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Hess Midstream Partners in the third quarter valued at about $160,000. US Bancorp DE acquired a new stake in Hess Midstream Partners in the third quarter worth about $173,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Hess Midstream Partners during the fourth quarter worth about $174,000. 98.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on HESM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. Morgan Stanley restated an “underweight” rating and set a $39.00 target price on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. Finally, The Goldman Sachs Group cut shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price for the company. in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $38.86.

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.