Hess Midstream Partners LP (HESM) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Hess Midstream Partners LP (NASDAQ:HESM) issued its quarterly earnings results on Thursday. The company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03, Bloomberg Earnings reports. Hess Midstream Partners had a return on equity of 3.23% and a net margin of 49.24%. The firm had revenue of $146.70 million during the quarter, compared to analysts’ expectations of $116.27 million.
Shares of Hess Midstream Partners (NASDAQ HESM) traded down 1.45% during mid-day trading on Friday, hitting $20.38. The company had a trading volume of 77,883 shares. 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 $1.11 billion and a P/E ratio of 8.51. The firm has a 50-day moving average price of $21.88 and a 200 day moving average price of $22.17.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Friday, November 3rd will be given a dividend of $0.3107 per share. This represents a $1.24 annualized dividend and a dividend yield of 6.10%. The ex-dividend date of this dividend is Thursday, November 2nd.
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Several analysts recently commented on the company. BidaskClub cut Hess Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 21st. Zacks Investment Research upgraded Hess Midstream Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Morgan Stanley upgraded 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 research report on Wednesday, August 30th. Citigroup Inc. upgraded Hess Midstream Partners from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $28.00 to $25.00 in a research report on Friday, August 11th. Finally, Scotiabank set a $31.00 price target on Hess Midstream Partners and gave the stock a “buy” rating in a research report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Hess Midstream Partners currently has a consensus rating of “Buy” and a consensus price target of $27.83.
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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