Hess Midstream Partners LP (NYSE:HESM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Hess Midstream Partners LP (NYSE:HESM) have been given an average recommendation of “Hold” by the six analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $43.00.

A number of research firms have commented on HESM. JPMorgan Chase & Co. upped their price target on Hess Midstream Partners from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Wall Street Zen upgraded Hess Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Wells Fargo & Company lowered Hess Midstream Partners from an “equal weight” rating to a “reduce” rating in a research report on Friday, September 19th. Citigroup cut their price objective on Hess Midstream Partners from $41.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Morgan Stanley assumed coverage on Hess Midstream Partners in a research report on Friday, July 25th. They set an “equal weight” rating and a $48.00 price objective on the stock.

Hess Midstream Partners Stock Down 1.3%

NYSE:HESM opened at $34.78 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 7.26. The stock’s fifty day moving average is $40.33 and its two-hundred day moving average is $39.29. Hess Midstream Partners has a 52 week low of $33.59 and a 52 week high of $44.14. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 12.88 and a beta of 0.68.

Hess Midstream Partners (NYSE:HESM) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The company had revenue of $414.20 million for the quarter, compared to analysts’ expectations of $405.08 million. During the same period in the prior year, the firm earned $0.59 earnings per share. The firm’s revenue was up 13.3% compared to the same quarter last year. Research analysts anticipate that Hess Midstream Partners will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a dividend of $0.737 per share. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.71. This represents a $2.95 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date of this dividend was Thursday, August 7th. Hess Midstream Partners’s dividend payout ratio is currently 109.26%.

Insider Buying and Selling at Hess Midstream Partners

In other news, COO John A. Gatling sold 62,457 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Hess Midstream Partners

Large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas purchased a new position in Hess Midstream Partners in the first quarter valued at $707,000. Fractal Investments LLC increased its holdings in Hess Midstream Partners by 23.8% in the second quarter. Fractal Investments LLC now owns 291,247 shares of the company’s stock valued at $11,216,000 after buying an additional 56,000 shares during the last quarter. Northern Trust Corp increased its holdings in Hess Midstream Partners by 17.8% in the fourth quarter. Northern Trust Corp now owns 85,550 shares of the company’s stock valued at $3,168,000 after buying an additional 12,939 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Hess Midstream Partners by 10.0% in the first quarter. Goldman Sachs Group Inc. now owns 7,233,773 shares of the company’s stock valued at $305,916,000 after buying an additional 655,062 shares during the last quarter. Finally, Zimmer Partners LP increased its holdings in Hess Midstream Partners by 16.4% in the first quarter. Zimmer Partners LP now owns 736,240 shares of the company’s stock valued at $31,136,000 after buying an additional 103,924 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 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.