Hess Midstream Partners LP (NYSE:HESM) Given Consensus Recommendation of “Hold” by Brokerages

Hess Midstream Partners LP (NYSE:HESM) has been assigned a consensus recommendation of “Hold” from the nine research firms that are covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $40.7143.

Several analysts recently commented on the stock. Weiss Ratings raised shares of Hess Midstream Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Raymond James Financial cut Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Wells Fargo & Company upped their target price on Hess Midstream Partners from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday. Wall Street Zen cut Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Zacks Research raised Hess Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd.

Hess Midstream Partners Stock Performance

Shares of NYSE HESM opened at $39.05 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.54. The company has a market capitalization of $8.11 billion, a P/E ratio of 13.66 and a beta of 0.60. Hess Midstream Partners has a 12 month low of $31.63 and a 12 month high of $44.14. The stock has a 50 day moving average of $36.44 and a 200-day moving average of $35.50.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings results on Monday, February 2nd. The company reported $0.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.72. Hess Midstream Partners had a return on equity of 74.89% and a net margin of 21.77%.The business had revenue of $374.50 million for the quarter, compared to analysts’ expectations of $419.16 million. During the same quarter in the prior year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts predict that Hess Midstream Partners will post 2.5 EPS for the current year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Thursday, February 5th were given a dividend of $0.7641 per share. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.75. This represents a $3.06 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend was Thursday, February 5th. Hess Midstream Partners’s payout ratio is 106.99%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Strategic Advocates LLC acquired a new stake in shares of Hess Midstream Partners in the third quarter valued at approximately $28,000. Marquette Asset Management LLC bought a new position in Hess Midstream Partners during the 3rd quarter worth $30,000. Caitong International Asset Management Co. Ltd acquired a new position in Hess Midstream Partners in the 4th quarter valued at $44,000. IFP Advisors Inc lifted its position in shares of Hess Midstream Partners by 70.0% during the 4th quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock valued at $49,000 after acquiring an additional 582 shares during the period. Finally, CENTRAL TRUST Co grew its holdings in shares of Hess Midstream Partners by 34.9% during the 2nd quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock worth $59,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

About Hess Midstream Partners

Hess Midstream Partners LP, formerly traded on the New York Stock Exchange under the ticker HESM, is a midstream energy partnership that owns, operates and develops crude oil, natural gas and produced water infrastructure in the Williston Basin. The company’s assets include crude oil gathering and transportation systems, saltwater disposal wells, natural gas processing and fractionation plants, and associated pipeline and storage facilities. Its integrated network is designed to support upstream production by providing gathering, processing, storage and marketing services for hydrocarbons and produced water.

Headquartered in Houston, Texas, Hess Midstream Partners primarily serves producers operating in North Dakota and Montana’s Bakken Shale region.