Hess Midstream Partners LP (HESM) Stock Rating Upgraded by BidaskClub
Hess Midstream Partners LP (NASDAQ:HESM) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
Several other brokerages have also commented on HESM. Zacks Investment Research lowered shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Scotiabank set a $31.00 price objective on shares of Hess Midstream Partners and gave the stock a “buy” rating in a report on Saturday, July 22nd. Morgan Stanley upped their price objective on shares of Hess Midstream Partners from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, July 14th. Finally, Citigroup Inc. upgraded shares of Hess Midstream Partners from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $28.00 to $25.00 in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $27.83.
Shares of Hess Midstream Partners (NASDAQ:HESM) opened at 21.97 on Thursday. Hess Midstream Partners has a 12-month low of $18.33 and a 12-month high of $26.78. The firm has a market capitalization of $1.20 billion and a PE ratio of 9.18. The firm has a 50-day moving average of $21.46 and a 200-day moving average of $22.08.
Hess Midstream Partners (NASDAQ:HESM) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $138.30 million during the quarter, compared to the consensus estimate of $111.37 million. Equities analysts anticipate that Hess Midstream Partners will post $0.89 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in HESM. Spirit of America Management Corp NY purchased a new stake in shares of Hess Midstream Partners in the 2nd quarter worth about $3,111,000. Russell Investments Group Ltd. purchased a new stake in shares of Hess Midstream Partners in the 2nd quarter worth about $7,013,000. Acadian Asset Management LLC purchased a new stake in shares of Hess Midstream Partners in the 2nd quarter worth about $119,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Hess Midstream Partners in the 2nd quarter worth about $735,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Hess Midstream Partners in the 2nd quarter worth about $2,536,000.
Hess Midstream Partners Company Profile
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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