Hess Midstream Partners LP (NYSE:HESM) Receives $40.57 Consensus Price Target from Brokerages

Hess Midstream Partners LP (NYSE:HESM) has earned an average rating of “Reduce” from the nine research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $40.5714.

Several analysts have recently commented on HESM shares. Zacks Research downgraded Hess Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Wall Street Zen downgraded Hess Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Hess Midstream Partners in a research report on Monday, December 29th. Finally, Raymond James Financial downgraded shares of Hess Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th.

Hess Midstream Partners Stock Up 0.9%

Shares of NYSE HESM opened at $37.85 on Wednesday. The company has a debt-to-equity ratio of 8.83, a current ratio of 0.75 and a quick ratio of 0.75. The company has a 50-day moving average price of $35.08 and a 200-day moving average price of $35.81. The stock has a market capitalization of $7.86 billion, a P/E ratio of 13.23 and a beta of 0.62. 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 posted its earnings results on Monday, February 2nd. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. The company had revenue of $374.50 million for the quarter, compared to analyst estimates of $419.16 million. Hess Midstream Partners had a net margin of 21.77% and a return on equity of 73.17%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. On average, equities research analysts forecast that Hess Midstream Partners will post 2.5 EPS for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Thursday, February 5th were issued a dividend of $0.7641 per share. This represents a $3.06 annualized dividend and a yield of 8.1%. This is a boost from Hess Midstream Partners’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, February 5th. Hess Midstream Partners’s dividend payout ratio is presently 106.99%.

Institutional Investors Weigh In On Hess Midstream Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in HESM. Strategic Advocates LLC bought a new position in shares of Hess Midstream Partners during the 3rd quarter worth approximately $28,000. Marquette Asset Management LLC purchased a new stake in shares of Hess Midstream Partners during the third quarter valued at approximately $30,000. IFP Advisors Inc lifted its holdings in Hess Midstream Partners by 70.0% during the fourth quarter. IFP Advisors Inc now owns 1,413 shares of the company’s stock worth $49,000 after acquiring an additional 582 shares during the period. CENTRAL TRUST Co boosted its position in Hess Midstream Partners by 34.9% in the second quarter. CENTRAL TRUST Co now owns 1,545 shares of the company’s stock worth $59,000 after purchasing an additional 400 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Hess Midstream Partners by 14.3% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $92,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

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.