Hess Midstream Partners LP (NYSE:HESM) Given Consensus Rating of “Reduce” by Brokerages

Hess Midstream Partners LP (NYSE:HESM) has earned an average recommendation of “Reduce” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $38.8571.

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

Hedge Funds Weigh In On Hess Midstream Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. increased its position in Hess Midstream Partners by 3.4% during the 4th quarter. Alps Advisors Inc. now owns 30,303,091 shares of the company’s stock worth $1,045,457,000 after purchasing an additional 1,007,846 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Hess Midstream Partners by 3.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,081,184 shares of the company’s stock valued at $313,301,000 after buying an additional 330,802 shares in the last quarter. Invesco Ltd. lifted its position in Hess Midstream Partners by 10.7% during the fourth quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock valued at $228,385,000 after buying an additional 641,092 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Hess Midstream Partners by 67.5% during the first quarter. Bank of New York Mellon Corp now owns 3,752,002 shares of the company’s stock worth $145,840,000 after buying an additional 1,512,007 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Hess Midstream Partners during the fourth quarter worth approximately $92,288,000. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Partners Trading Up 0.9%

Shares of HESM stock opened at $40.02 on Wednesday. The firm has a market cap of $8.25 billion, a P/E ratio of 13.80 and a beta of 0.52. Hess Midstream Partners has a 1-year low of $31.63 and a 1-year high of $41.80. The company has a debt-to-equity ratio of 9.39, a current ratio of 0.77 and a quick ratio of 0.77. The firm’s 50-day simple moving average is $39.12 and its 200-day simple moving average is $38.65.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The firm had revenue of $399.00 million during the quarter, compared to the consensus estimate of $395.96 million. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. Hess Midstream Partners’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 earnings per share. As a group, equities analysts forecast that Hess Midstream Partners will post 2.94 EPS for the current year.

Hess Midstream Partners Increases Dividend

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

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.