Hess Midstream Partners LP (HESM) Upgraded to “Sell” at BidaskClub
Hess Midstream Partners LP (NASDAQ:HESM) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday.
A number of other analysts also recently weighed in on the stock. Scotiabank set a $31.00 price target on shares of Hess Midstream Partners and gave the stock a “buy” rating in a research report on Friday, May 19th. Morgan Stanley upgraded Hess Midstream Partners from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $25.00 to $26.00 in a research note on Wednesday. Zacks Investment Research cut Hess Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Finally, Citigroup Inc. upgraded Hess Midstream Partners from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $28.00 to $25.00 in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $27.83.
Shares of Hess Midstream Partners (NASDAQ HESM) opened at 21.06 on Friday. Hess Midstream Partners has a 12 month low of $18.33 and a 12 month high of $26.78. The stock’s 50 day moving average is $20.44 and its 200 day moving average is $22.08. The stock has a market cap of $1.15 billion and a P/E ratio of 8.80.
Hess Midstream Partners (NASDAQ:HESM) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $138.30 million for the quarter, compared to analyst estimates of $111.37 million. Analysts predict that Hess Midstream Partners will post $0.89 earnings per share for the current fiscal year.
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A number of large investors have recently bought and sold shares of HESM. Spirit of America Management Corp NY bought a new stake in Hess Midstream Partners during the second quarter worth about $3,111,000. Russell Investments Group Ltd. bought a new stake in Hess Midstream Partners during the second quarter worth about $7,013,000. Acadian Asset Management LLC bought a new stake in Hess Midstream Partners during the second quarter worth about $119,000. Kornitzer Capital Management Inc. KS bought a new stake in Hess Midstream Partners during the second quarter worth about $735,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in Hess Midstream Partners during the second quarter worth about $2,536,000.
About Hess Midstream Partners
Hess Midstream Partners LP is a fee-based, traditional master limited partnership formed to own, operate, develop and acquire a set of midstream assets to provide services to Hess and third-party crude oil and natural gas producers. The Company’s assets are primarily located in the Bakken and Three Forks shale plays in the Williston Basin area of North Dakota (collectively referred as the Bakken).
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