Zacks Investment Research cut shares of Hess Midstream Partners (NYSE:HESM) from a buy rating to a hold rating in a research report report published on Thursday.

According to Zacks, “Hess Midstream Partners LP is a master limited partnership company. It 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 operating segments consists of gathering; processing and storage and terminaling and export. Hess Midstream Partners LP is based in Houston, United States. “

Other research analysts also recently issued reports about the stock. Scotiabank set a $31.00 target price on shares of Hess Midstream Partners and gave the company a buy rating in a research report on Monday, December 4th. BidaskClub upgraded shares of Hess Midstream Partners from a sell rating to a hold rating in a research report on Thursday, October 5th. Finally, Wells Fargo & Co upgraded shares of Hess Midstream Partners from a market perform rating to an outperform rating and upped their price objective for the stock from $24.00 to $26.00 in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $27.71.

Hess Midstream Partners (HESM) traded up $0.13 during midday trading on Thursday, reaching $21.13. 265,080 shares of the company were exchanged, compared to its average volume of 140,458. Hess Midstream Partners has a 52 week low of $18.32 and a 52 week high of $26.78.

Hess Midstream Partners (NYSE:HESM) last posted its earnings results on Thursday, October 26th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $146.70 million during the quarter, compared to the consensus estimate of $116.27 million. Hess Midstream Partners had a net margin of 28.19% and a return on equity of 6.64%. equities analysts anticipate that Hess Midstream Partners will post 1.01 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the business. Harvest Fund Advisors LLC raised its position in shares of Hess Midstream Partners by 2.4% in the third quarter. Harvest Fund Advisors LLC now owns 2,850,448 shares of the company’s stock worth $62,624,000 after acquiring an additional 67,210 shares during the period. FMR LLC acquired a new position in shares of Hess Midstream Partners in the second quarter worth about $54,210,000. Cohen & Steers Inc. raised its position in shares of Hess Midstream Partners by 29.0% in the third quarter. Cohen & Steers Inc. now owns 1,727,200 shares of the company’s stock worth $37,947,000 after acquiring an additional 388,552 shares during the period. NBW Capital LLC acquired a new position in shares of Hess Midstream Partners in the second quarter worth about $6,950,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Hess Midstream Partners in the second quarter worth about $6,156,000. Institutional investors and hedge funds own 57.16% of the company’s stock.

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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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