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

Hess Midstream Partners LP (NYSE:HESM) has been given a consensus recommendation of “Reduce” by the nine research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $38.7143.

A number of equities research analysts have issued reports on HESM shares. Zacks Research raised shares of Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Morgan Stanley lowered shares of Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective for the company. in a report on Wednesday, June 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. Wells Fargo & Company increased their price objective on shares of Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. Finally, The Goldman Sachs Group lowered shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price objective for the company. in a report on Monday, April 20th.

Hess Midstream Partners Trading Down 0.8%

Hess Midstream Partners stock opened at $37.37 on Tuesday. The firm has a 50 day moving average of $38.40 and a 200 day moving average of $37.32. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 12.93 and a beta of 0.52. Hess Midstream Partners has a 12-month low of $31.63 and a 12-month high of $44.14. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.97.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, May 4th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. The company had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. As a group, research analysts predict that Hess Midstream Partners will post 2.99 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were issued a dividend of $0.7792 per share. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $3.12 dividend on an annualized basis and a yield of 8.3%. Hess Midstream Partners’s payout ratio is 107.96%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HESM. Royal Bank of Canada boosted its position in shares of Hess Midstream Partners by 33.7% during the 1st quarter. Royal Bank of Canada now owns 129,902 shares of the company’s stock valued at $5,494,000 after acquiring an additional 32,740 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of Hess Midstream Partners during the 1st quarter valued at approximately $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Hess Midstream Partners by 20.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,741 shares of the company’s stock worth $9,504,000 after buying an additional 37,794 shares during the last quarter. Geode Capital Management LLC lifted its position in Hess Midstream Partners by 21.6% in the second quarter. Geode Capital Management LLC now owns 5,778 shares of the company’s stock worth $223,000 after buying an additional 1,026 shares during the last quarter. Finally, Creative Planning lifted its position in Hess Midstream Partners by 10.6% in the second quarter. Creative Planning now owns 8,596 shares of the company’s stock worth $331,000 after buying an additional 826 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors.

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.