Hess Midstream Partners (NYSE:HESM) Stock Gets Price Target Trim from Wells Fargo & Company

Hess Midstream Partners (NYSE:HESM) had its target price lowered by Wells Fargo & Company from $40.00 to $34.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on HESM. JPMorgan Chase & Co. lowered shares of Hess Midstream Partners from a “neutral” rating to an “underweight” rating and set a $39.00 price target on the stock. in a research note on Friday, October 2nd. Citigroup reduced their price objective on shares of Hess Midstream Partners from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Weiss Ratings lowered Hess Midstream Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 22nd. Barclays set a $32.00 target price on Hess Midstream Partners in a research report on Friday, October 23rd. Finally, UBS Group dropped their target price on Hess Midstream Partners from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Hess Midstream Partners currently has an average rating of “Reduce” and an average target price of $33.25.

Hess Midstream Partners Stock Performance

HESM traded down $0.32 during trading on Wednesday, hitting $29.98. The stock had a trading volume of 2,566,043 shares, compared to its average volume of 3,460,939. The company has a debt-to-equity ratio of 9.39, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market capitalization of $6.18 billion, a P/E ratio of 10.27 and a beta of 0.68. The company’s 50-day moving average price is $35.72 and its 200 day moving average price is $37.86. Hess Midstream Partners has a twelve month low of $29.52 and a twelve month high of $41.44.

Hess Midstream Partners (NYSE:HESM) last announced its quarterly earnings data on Friday, October 30th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Hess Midstream Partners had a net margin of 23.49% and a return on equity of 94.12%. The company had revenue of $410.10 million during the quarter, compared to the consensus estimate of $404.67 million. During the same quarter in the prior year, the firm earned $0.75 EPS. Hess Midstream Partners’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities research analysts forecast that Hess Midstream Partners will post 3.30 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.7985 per share. This represents a $3.19 annualized dividend and a dividend yield of 10.7%. The ex-dividend date is Thursday, November 5th. This is an increase from Hess Midstream Partners’s previous quarterly dividend of $0.7888. Hess Midstream Partners’s payout ratio is presently 108.22%.

Hedge Funds Weigh In On Hess Midstream Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Moors & Cabot Inc. purchased a new position in shares of Hess Midstream Partners in the 3rd quarter valued at about $467,000. Russell Investments Group Ltd. lifted its stake in shares of Hess Midstream Partners by 385.6% in the third quarter. Russell Investments Group Ltd. now owns 3,686 shares of the company’s stock valued at $138,000 after purchasing an additional 2,927 shares during the period. Alps Advisors Inc. boosted its holdings in Hess Midstream Partners by 4.0% during the third quarter. Alps Advisors Inc. now owns 30,427,712 shares of the company’s stock worth $1,137,084,000 after buying an additional 1,173,638 shares in the last quarter. Arrow Investment Advisors LLC boosted its holdings in Hess Midstream Partners by 16.3% during the third quarter. Arrow Investment Advisors LLC now owns 6,506 shares of the company’s stock worth $243,000 after buying an additional 912 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in Hess Midstream Partners by 7.7% during the third quarter. Kestra Advisory Services LLC now owns 8,974 shares of the company’s stock worth $335,000 after buying an additional 640 shares in the last quarter. 98.97% of the stock is owned by institutional investors and hedge funds.

About Hess Midstream Partners

Hess Midstream Partners LP (NYSE:HESM) is a midstream energy company that owns and operates infrastructure supporting oil and gas production, primarily in the Bakken and Three Forks shale plays of North Dakota. The company provides essential services between the wellhead and downstream markets rather than exploring for or producing hydrocarbons itself.

Its operations include gathering, processing, storage and transportation services for crude oil, natural gas and natural gas liquids. Hess Midstream also provides produced-water gathering and disposal services, helping manage water generated during oil and gas production.