Hess Midstream Partners LP (NYSE:HESM) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Hess Midstream Partners LP (NYSE:HESM) have been assigned a consensus recommendation of “Reduce” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $38.7143.

A number of equities research analysts have commented on the company. The Goldman Sachs Group cut Hess Midstream Partners from a “neutral” rating to a “sell” rating and set a $32.00 price target on the stock. in a report on Monday, April 20th. Morgan Stanley lowered Hess Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $38.00 price objective for the company. in a research note on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Hess Midstream Partners in a research report on Wednesday, June 24th.

Institutional Investors Weigh In On Hess Midstream Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Grove Bank & Trust bought a new position in shares of Hess Midstream Partners during the second quarter worth $38,000. Caitong International Asset Management Co. Ltd bought a new stake in Hess Midstream Partners in the 4th quarter valued at $44,000. IFP Advisors Inc increased its holdings in Hess Midstream Partners by 70.0% in 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 last quarter. CENTRAL TRUST Co lifted its stake in Hess Midstream Partners by 124.4% in the 1st quarter. CENTRAL TRUST Co now owns 2,165 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Hess Midstream Partners by 14.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Partners Stock Performance

Shares of NYSE HESM opened at $40.33 on Friday. The firm has a fifty day moving average price of $38.65 and a 200-day moving average price of $37.75. The company has a debt-to-equity ratio of 9.97, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $8.31 billion, a PE ratio of 13.95 and a beta of 0.53. Hess Midstream Partners has a 1 year low of $31.63 and a 1 year high of $44.14.

Hess Midstream Partners (NYSE:HESM) last released its earnings results on Monday, May 4th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $389.51 million. Hess Midstream Partners had a net margin of 22.64% and a return on equity of 84.47%. Hess Midstream Partners’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 EPS. Equities analysts anticipate that Hess Midstream Partners will post 2.9 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were paid a $0.7792 dividend. This represents a $3.12 annualized dividend and a yield of 7.7%. The ex-dividend date was Thursday, May 7th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.76. Hess Midstream Partners’s dividend payout ratio is currently 107.96%.

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.