Hess Midstream Partners LP (HESM) Given Average Rating of “Buy” by Brokerages
Shares of Hess Midstream Partners LP (NASDAQ:HESM) have been assigned a consensus rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $28.80.
HESM has been the topic of a number of research analyst reports. Scotiabank set a $31.00 price target on Hess Midstream Partners and gave the stock a “buy” rating in a report on Saturday, July 22nd. Zacks Investment Research raised Hess Midstream Partners from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday, July 18th. Morgan Stanley raised Hess Midstream Partners from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $25.00 to $26.00 in a report on Wednesday. BidaskClub raised Hess Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Friday. Finally, Citigroup Inc. raised Hess Midstream Partners from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $28.00 to $25.00 in a report on Friday, August 11th.
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Hess Midstream Partners (HESM) traded up 1.19% on Tuesday, hitting $21.31. 156,791 shares of the company traded hands. The firm has a market capitalization of $1.16 billion and a PE ratio of 8.90. Hess Midstream Partners has a 1-year low of $18.33 and a 1-year high of $26.78. The firm’s 50 day moving average price is $20.48 and its 200 day moving average price is $22.07.
Hess Midstream Partners (NASDAQ:HESM) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.02. Hess Midstream Partners had a return on equity of 3.23% and a net margin of 49.24%. The business had revenue of $138.30 million during the quarter, compared to analysts’ expectations of $111.37 million. Equities research analysts predict that Hess Midstream Partners will post $0.89 EPS for the current fiscal year.
The company also recently disclosed a special dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, August 4th were issued a dividend of $0.2703 per share. The ex-dividend date was Wednesday, August 2nd.
Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC purchased a new stake in shares of Hess Midstream Partners during the 2nd quarter worth approximately $54,210,000. Kayne Anderson Capital Advisors LP purchased a new stake in shares of Hess Midstream Partners during the 2nd quarter worth approximately $17,335,000. Russell Investments Group Ltd. purchased a new stake in shares of Hess Midstream Partners during the 2nd quarter worth approximately $7,013,000. NBW Capital LLC purchased a new stake in shares of Hess Midstream Partners during the 2nd quarter worth approximately $6,950,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Hess Midstream Partners during the 2nd quarter worth approximately $6,156,000.
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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