Hess Midstream Partners LP (NYSE:HESM) Stock Has Consensus Price Target of $36.50 According to Analysts

Shares of Hess Midstream Partners LP (NYSE:HESM) have earned a consensus recommendation of “Reduce” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $37.00.

HESM has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an “underweight” rating and set a $39.00 price target on shares of Hess Midstream Partners in a research note on Tuesday, July 21st. JPMorgan Chase & Co. downgraded shares of Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 price objective for the company. in a research report on Friday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hess Midstream Partners in a report on Monday, September 21st.

Hess Midstream Partners Stock Performance

NYSE:HESM opened at $37.76 on Thursday. 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 has a market cap of $7.79 billion, a price-to-earnings ratio of 13.02 and a beta of 0.58. The firm’s fifty day moving average price is $39.69 and its 200 day moving average price is $39.09. Hess Midstream Partners has a 1-year low of $31.63 and a 1-year high of $41.44.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Hess Midstream Partners had a net margin of 23.23% and a return on equity of 92.18%. The company had revenue of $399.00 million during the quarter, compared to the consensus estimate of $395.96 million. During the same quarter in the prior year, the firm earned $0.74 EPS. Hess Midstream Partners’s quarterly revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts expect that Hess Midstream Partners will post 2.94 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, August 6th were issued a $0.7888 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $3.16 annualized dividend and a dividend yield of 8.4%. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.7792. Hess Midstream Partners’s payout ratio is 108.97%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its position in Hess Midstream Partners by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 147,778 shares of the company’s stock worth $5,556,000 after acquiring an additional 1,203 shares in the last quarter. State Street Corp grew its stake in shares of Hess Midstream Partners by 38.0% during the 2nd quarter. State Street Corp now owns 365,577 shares of the company’s stock worth $13,746,000 after purchasing an additional 100,611 shares during the period. Tidal Investments LLC grew its stake in shares of Hess Midstream Partners by 37.2% during the 2nd quarter. Tidal Investments LLC now owns 7,881 shares of the company’s stock worth $296,000 after purchasing an additional 2,138 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Hess Midstream Partners in the 2nd quarter valued at about $77,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Hess Midstream Partners by 419.8% in the second quarter. Squarepoint Ops LLC now owns 106,871 shares of the company’s stock valued at $4,018,000 after purchasing an additional 86,309 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.

Hess Midstream Partners Company Profile

Hess Midstream Partners LP (NYSE:HESM) is a fee-based midstream energy company that owns and operates infrastructure supporting crude oil, natural gas and produced-water production in the Bakken Shale of North Dakota. The partnership primarily serves Hess Corp. and other producers operating in the region.

Its assets include systems for gathering and processing natural gas, gathering and transporting crude oil, and handling and disposing of produced water. Hess Midstream also provides storage, terminal and transportation services, helping connect production sites with downstream pipelines, rail facilities and other market outlets.

The company was formed to own midstream assets previously developed or operated by Hess and began trading publicly in 2017.