Hess Midstream Partners’ (HESM) Neutral Rating Reiterated at Citigroup

Citigroup reiterated their neutral rating on shares of Hess Midstream Partners (NYSE:HESM) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $41.00 price target on the stock, down from their previous price target of $42.00.

Several other equities research analysts also recently issued reports on HESM. JPMorgan Chase & Co. boosted their price objective on Hess Midstream Partners from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Morgan Stanley started coverage on Hess Midstream Partners in a report on Friday, July 25th. They issued an “equal weight” rating and a $48.00 price objective on the stock. Wells Fargo & Company upped their price target on Hess Midstream Partners from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. UBS Group restated a “neutral” rating and set a $43.00 price target (down previously from $45.00) on shares of Hess Midstream Partners in a report on Wednesday. Finally, Wall Street Zen upgraded Hess Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Hess Midstream Partners presently has a consensus rating of “Hold” and a consensus target price of $45.17.

Hess Midstream Partners Price Performance

HESM stock opened at $39.31 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 7.26. The company has a market capitalization of $8.26 billion, a PE ratio of 14.56 and a beta of 0.68. Hess Midstream Partners has a 12-month low of $33.59 and a 12-month high of $44.14. The business’s fifty day moving average price is $40.55 and its 200 day moving average price is $39.51.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.18. The firm had revenue of $414.20 million for the quarter, compared to the consensus estimate of $405.08 million. Hess Midstream Partners had a return on equity of 60.37% and a net margin of 18.52%.The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. On average, sell-side analysts anticipate that Hess Midstream Partners will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a dividend of $0.737 per share. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 7th. This represents a $2.95 annualized dividend and a yield of 7.5%. Hess Midstream Partners’s dividend payout ratio (DPR) is currently 108.89%.

Insider Activity

In other news, COO John A. Gatling sold 62,457 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total transaction of $2,597,586.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HESM. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Hess Midstream Partners during the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hess Midstream Partners during the 1st quarter worth about $31,000. Farther Finance Advisors LLC boosted its position in shares of Hess Midstream Partners by 840.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company’s stock worth $45,000 after acquiring an additional 941 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Hess Midstream Partners during the 2nd quarter worth about $50,000. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Hess Midstream Partners during the 1st quarter worth about $58,000. 98.97% of the stock is owned by institutional investors and hedge funds.

Hess Midstream Partners Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.