Hess Midstream Partners LP (NYSE:HESM) Receives Average Rating of “Reduce” from Analysts

Hess Midstream Partners LP (NYSE:HESM) has received a consensus rating of “Reduce” from the seven brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $36.60.

A number of brokerages recently weighed in on HESM. Morgan Stanley reissued an “underweight” rating and issued a $39.00 price target on shares of Hess Midstream Partners in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th.

Hess Midstream Partners Stock Performance

Shares of HESM opened at $40.03 on Friday. The stock has a 50 day moving average price of $39.93 and a 200 day moving average price of $39.09. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 9.39. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 13.80 and a beta of 0.52. Hess Midstream Partners has a 52-week low of $31.63 and a 52-week high of $41.44.

Hess Midstream Partners (NYSE:HESM) last issued its earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $395.96 million. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. Research analysts predict that Hess Midstream Partners will post 2.94 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, August 6th were given a $0.7888 dividend. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.9%. Hess Midstream Partners’s payout ratio is currently 108.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HESM. Alps Advisors Inc. lifted its stake in Hess Midstream Partners by 3.4% in the fourth quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock valued at $1,045,457,000 after buying an additional 1,007,846 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Hess Midstream Partners by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock valued at $313,301,000 after acquiring an additional 330,802 shares during the period. Invesco Ltd. increased its holdings in shares of Hess Midstream Partners by 10.7% in the 4th quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock valued at $228,385,000 after acquiring an additional 641,092 shares during the period. California State Teachers Retirement System raised its position in Hess Midstream Partners by 3,830.1% in the 2nd quarter. California State Teachers Retirement System now owns 5,311,000 shares of the company’s stock valued at $199,694,000 after purchasing an additional 5,175,863 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Hess Midstream Partners by 67.5% in the 1st quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock valued at $145,840,000 after purchasing an additional 1,512,007 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

About Hess Midstream Partners

Hess Midstream Partners LP (NYSE:HESM) is a fee-based, publicly traded midstream energy company that provides infrastructure and logistics services for crude oil, natural gas and produced water. The partnership’s operations are primarily supported by long-term commercial agreements with Hess and other customers.

The company owns and operates midstream assets in the Bakken and Three Forks shale plays of North Dakota. Its services include gathering crude oil and natural gas from producing wells, processing and compressing natural gas, gathering and disposing of produced water, and providing storage, terminaling and transportation services.

Hess Midstream’s infrastructure includes gathering systems, natural gas processing facilities, crude oil and natural gas storage assets, rail and pipeline connections, and water-handling facilities.