Hess Midstream Partners (NYSE:HESM) Posts Earnings Results, Beats Expectations By $0.08 EPS

Hess Midstream Partners (NYSE:HESM) issued its quarterly earnings results on Monday. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08, Briefing.com reports. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the company posted $0.74 earnings per share.

Hess Midstream Partners Stock Performance

Shares of Hess Midstream Partners stock opened at $40.94 on Monday. The stock has a market cap of $8.44 billion, a PE ratio of 14.16 and a beta of 0.53. The business has a fifty day simple moving average of $38.76 and a 200-day simple moving average of $38.21. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.97. Hess Midstream Partners has a 12 month low of $31.63 and a 12 month high of $44.14.

Hess Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, August 6th will be issued a $0.7888 dividend. The ex-dividend date is Thursday, August 6th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.7%. Hess Midstream Partners’s dividend payout ratio is currently 109.00%.

Analysts Set New Price Targets

HESM has been the subject of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th. The Goldman Sachs Group lowered shares of Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 target price for the company. in a research note on Monday, April 20th. Finally, Morgan Stanley restated an “underweight” rating and set a $39.00 target price on shares of Hess Midstream Partners in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $38.86.

Institutional Investors Weigh In On Hess Midstream Partners

Hedge funds have recently bought and sold shares of the business. Invesco Ltd. grew its stake in Hess Midstream Partners by 10.7% during the 4th quarter. Invesco Ltd. now owns 6,619,868 shares of the company’s stock valued at $228,385,000 after acquiring an additional 641,092 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Hess Midstream Partners in the fourth quarter worth approximately $92,288,000. UBS Group AG raised its position in Hess Midstream Partners by 10.1% during the third quarter. UBS Group AG now owns 1,969,242 shares of the company’s stock valued at $68,037,000 after acquiring an additional 180,615 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in Hess Midstream Partners by 179.8% in the second quarter. Balyasny Asset Management L.P. now owns 1,209,075 shares of the company’s stock valued at $46,561,000 after acquiring an additional 776,924 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in Hess Midstream Partners by 56.0% in the second quarter. Qube Research & Technologies Ltd now owns 1,009,871 shares of the company’s stock valued at $38,890,000 after acquiring an additional 362,376 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Hess Midstream Partners Company Profile

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.