Brokerages Set Hess Midstream Partners LP (NYSE:HESM) Target Price at $38.71

Shares of Hess Midstream Partners LP (NYSE:HESM) have been given a consensus rating of “Reduce” by the nine research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $38.8571.

Several research firms have weighed in on HESM. Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a report on Wednesday, June 24th. Morgan Stanley restated an “underweight” rating and issued a $39.00 price target on shares of Hess Midstream Partners in a report on Tuesday. Finally, 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.

Hess Midstream Partners Trading Up 2.0%

HESM opened at $40.78 on Friday. The firm’s fifty day moving average is $38.73 and its two-hundred day moving average is $37.89. The firm has a market cap of $8.41 billion, a PE ratio of 14.11 and a beta of 0.53. Hess Midstream Partners has a twelve month low of $31.63 and a twelve month high of $44.14. The company has a debt-to-equity ratio of 9.97, a quick ratio of 0.92 and a current ratio of 0.92.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The company had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.51 million. During the same quarter in the previous year, the business earned $0.65 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Hess Midstream Partners will post 2.9 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were paid a $0.7792 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a yield of 7.6%. Hess Midstream Partners’s payout ratio is presently 107.96%.

Institutional Investors Weigh In On Hess Midstream Partners

Large investors have recently made changes to their positions in the stock. Grove Bank & Trust bought a new stake in Hess Midstream Partners in the 2nd quarter valued at $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hess Midstream Partners in the 4th quarter valued at about $44,000. IFP Advisors Inc raised its stake in shares of Hess Midstream Partners by 70.0% in the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after purchasing an additional 582 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Hess Midstream Partners by 124.4% in the first quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $92,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.

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.